Two Wheeler Insurance
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Two wheeler insurance, or bike insurance, is an insurance policy that helps you to cover against damages that may happen to both you and to your two-wheeler due to events like accidents, thefts, fires, or natural disasters. You will also get protection against liabilities arising due to damages to any third-party vehicle, property or person. A two-wheeler insurance covers different types of two-wheelers, like motorcycles, mopeds, scooters and more.
Two-wheeler sales in India reached an all-time high as of 2019, when India's auto industry sold some 21 million units. This figure is almost double the 2011 sales, when just 11.77 million two-wheeler units were sold in India. This data alone speaks for the volumes of two-wheelers in India! (1)
With so many two-wheelers muddling across cities, accidents are prone to happen. Perhaps that’s why, at least having a Third-Party Bike Insurance is mandatory by law. This way, if you run into a third-party vehicle or someone bumps into you, you will be covered against any damages and losses caused.
Digit provides two-wheelers with three kinds of bike insurance policies. From the complete Comprehensive Cover to standalone Third-Party and Own Damage Bike Insurance Policies as well.
The best part? Comprehensive Bike Policies can further be customized by opting for add-ons that help protect your bike in all possible situations. All this within just a few minutes to spare online, and we’ll take care of the rest!
Two wheeler insurance add-ons which you can buy with your Two Wheeler insurance policy
It is equally important to know what’s not covered in your two-wheeler insurance policy, so that there are no surprises when you make a claim. Here are some such situations:
Starting from ₹752
No Claim Bonus
Up to 50% Discount
5 Add-ons available
Available at 2900+ Garages
Smartphone-enabled Claim process. Can be done online within 7 minutes!
Claim Settlement Ratio
97% Claim settlement ratio - time period: Oct'19 to Mar'20
Own Damage Cover
Damages to Third-Party
Unlimited Liability for Personal Damages, Up to 7.5 Lakhs for Property/Vehicle Damages
Damages/Losses to own two-wheeler due to an accident
Covers for damages to your own two-wheeler in case of an accident or collision.
Damages/Losses to own two-wheeler in case of fire
Covers for damages and losses to your own two-wheeler caused due to a fire.
Damages/Losses to own two-wheeler in case of a natural calamity
Covers for damages and losses to your own two-wheeler caused due to a natural calamity such as floods, earthquakes, cyclone, etc.
Damages to Third-Party Vehicle
Covers for damages caused by your two-wheeler to any third-party vehicle, to up to 7.5 lakhs.
Damages to Third-Party Property
Covers for damages and losses caused by your two-wheeler to any third-party property, to up to 7.5 lakhs
Personal Accident Cover
Covers for owner-rider's bodily injuries or death. (Mandatory by law, one can opt in for the same if they don’t have one already)
Injuries/Death of a Third-Party Person
Covers for bodily injuries or death caused by your two-wheeler to any third-party person, up to unlimited liability.
Theft of your scooter or bike
Covers for losses if your two-wheeler is unfortunately stolen.
Customize your IDV
Customize the IDV of your two-wheeler as per your choice and consequently adjust your two-wheeler insurance premium accordingly.
Extra protection with customized add-ons
Give your two-wheeler an extra layer of protection with customized add-ons such as tyre protect cover, consumable cover, zero depreciation add-on, etc.
After you buy or renew our two wheeler insurance plan, you live tension free as we have a 3-step, completely digital claims process!
Just call on 1800-258-5956. No forms to be filled.
Get a link for Self-Inspection on your registered mobile number. Shoot your vehicle’s damages from your smartphone through a guided step by step process.
Choose the mode of repair you wish to opt for i.e. Reimbursement or Cashless through our network of garages.
When we say we’re making claims and well, insurance simple, we truly mean it!
This is the first question that should come to your mind when switching your insurance company. Good you’re doing that!Read Digit’s Claims Report Card
IDV is the maximum amount your insurance provider can give you, in case your bike is stolen or totally damaged.
The 2 Wheeler Insured Declared Value and your two wheeler insurance premium go hand in hand. This means, the higher your IDV is, the higher your bike insurance premium – and as your vehicle ages and IDV depreciates, your premium also decreases.
Also, when you decide to sell your bike, a higher IDV means you’ll get a higher price for it. Price may also be affected by other factors like usage, past bike insurance claims experience etc.
So, when you’re choosing the right two wheeler insurance policy for your bike, remember to make note of the IDV being offered, and not just the premium.
A company offering a low premium may be tempting, but this could be because the IDV on offer is low. In case of total loss of your bike, a higher IDV leads to higher compensations.
At the time of resale, your IDV is indicative of the market value for your bike. However, if you have maintained your bike really well and is shining as good as new, you can always aim at a price more than what your IDV might offer you.
At the end of the day, it all boils down to how much love you have showered on your bike.
NCB (No Claim Bonus) definition: NCB is a discount on premium given to the policyholder for having a claim-free policy term.
A no claims bonus ranges from a discount of 20-50% and is something you earn at the end of your policy period by maintaining a record of making no bike accident claims under your bike insurance policy.
This means that you can’t get a no claims bonus when you buy your first comprehensive bike insurance policy – you can only get it on your policy renewal.
A No Claim Bonus is meant for the bike insurance policyholder regardless of the bike. This means, even if you switch your bike, your NCB stays with you.
If you decide to buy a new bike, you will be issued a new bike insurance policy, but you can still avail of the NCB you accumulated on the old bike or policy.
Like everything in life, there is a decrease in value of certain parts of your bike, including the bumper or any other metal or fibre glass parts.
So, when a damage happens, the full cost of replacement is not given as depreciation is deducted from the claim money.
But this addon makes sure there is Zero Depreciation and you get the full value of the cost of repair/replacement provided the vehicle is repaired at Digit Authorized Workshop.
Know more about Zero Dep Two Wheeler Insurance
If you opt to get your bike repaired with a Digit Authorized Repair Center, we will make the payment for the approved claim amount, directly to the Repair Center. This is a Cashless Claim.
Please note, if there are any deductibles, like a Compulsory Excess/ Deductible, any repair charges for which your insurance doesn’t cover you or any depreciation costs, that is to be paid by the insured’s own pocket.
Know more about Cashless Bike Insurance.
A bike insurance calculator is an online tool to help you ascertain the right bike insurance quote for your bike.
The same can be calculated by entering your bike’s basic details such as your bike’s make and model, registration date, type of plan, etc.
Know more about Two Wheeler Insurance Premium Calculator.
Components of a Bike Insurance Premium
Own Damages Cover - Included in Standard/Comprehensive and standalone Own Damage policies, this part of your bike insurance would cover for losses and damages caused to your own bike.
How should you compare your bike insurance with other companies?
Know more about Long Term Two Wheeler Insurance for 3 Years.
Know more in detail about Why Bike Insurance is Mandatory in India?
In the world of online shopping, quick UPI payments and what not, buying a bike insurance online is just one part of this ever-growing digital economy. It not only makes things easier and more convenient for you, but also helps reduce costs and hence, your bike insurance premiums!
All you need to do to buy a bike insurance online is keep your basic two-wheeler details handy and your debit/credit card or UPI id ready and your bike insurance will be emailed to you in no time.
Do you know that you can buy or renew your bike insurance policy regardless of whether it’s a brand-new bike or a secondhand one?
However, if you're purchasing a second-hand bike, check if the owner already has a two-wheeler insurance or not, and get the same transferred to your name, well within 14 days of purchase. Additionally, also make sure:
Know more about
If you’ve never bought a bike insurance for your bike, it’s still never too late to get one. However, here are the three most important things you should keep in mind before buying a bike insurance for your old bike.
1. Bike Use & Type of Bike Insurance: Are you buying a bike insurance to just keep your old bike legal when you take it out, or protect it from damages and losses? Based on your bike’s use and type, you need to decide whether a third-party or comprehensive bike insurance works for you.
2. IDV of your Bike: IDV is the market value of your bike. Basis this, your bike insurance premium and your claim amount too during claims. Since your bike is an old one, set your IDV basis its current market value, and don’t forget to also account for the depreciation over the years!
3. Additional Covers: When you opt for a two-wheeler comprehensive insurance, you will be given the option to add additional covers to your policy to give your bike extensive coverage. As per the use and age of your bike, you can pick a combination of add-ons that will help you cover for your bike in all possible situations.
However, if you’re planning to buy a bike insurance for your old two-wheeler, see which add-ons would be applicable or not. For example; A Return to Invoice cover may not be applicable if your bike is more than five years old.
Know more about Old Bike Insurance.
Why is it Important to Renew your Expired Bike Insurance Policy on time?
Know more about How to Renew Expired Bike Insurance Policy?