Getting 2-wheeler insurance is mandatory in India according to motor vehicle act. If you are riding your vehicle without a valid insurance then you are liable to pay penalties or you may face legal troubles. Thus, it is important to understand what 2-wheeler insurance is and how you can easily get a two-wheeler insurance online.
Here we will discuss all the important factors of two-wheeler insurance to ensure you understand your requirements and buy the right insurance coverage.
FAQs on Two-Wheeler Insurance
Q1. What is the cost of two-wheeler insurance online?
The cost of the two-wheeler insurance depends on several factors, such as your bike’s age, make, model, year of purchase, etc. Researching and understanding these factors and knowing what might affect your insurance premium are crucial. The type of plan you choose will determine the insurance cost.
Q2. What are the types of bike insurance available?
There are usually two types of bike insurance available -
Third-party bike insurance - Third-party bike insurance is the one that is mandatory to have as per the Motor Vehicle Act of India. It protects you against all third-party liabilities but does not cover your vehicle damage. You cannot extend the coverage of third-party 2-wheeler insurance.
Comprehensive bike insurance - Comprehensive bike insurance protects you from all financial adversities, including your vehicle damage due to accidents, natural calamities, theft, etc. You can extend the coverage by purchasing add-ons with a comprehensive plan.
Q3. How to get your 2-wheeler insurance details?
You can get your two-wheeler insurance details by visiting the online portal of your insurance provider. Also, you can visit the RTO official website and enter the bike’s registration number to know the details of your two-wheeler insurance online.
Q4. What is full bike insurance?
Full bike insurance or popularly known as a comprehensive bike insurance plan, covers you from all financial distress. Thus, extending the coverage against several damages such as damage by theft, fire, natural calamities, etc.
Q5. Is t mandatory to buy bike insurance from the dealer?
As per the Competition Commission of India (CCI), buying insurance from the dealer is not mandatory. You can check and compare the two-wheeler insurance online and buy it from a reputed insurance provider. This will help you save time and money, as buying insurance online is convenient, and you can customise it as per your requirements. Also, some insurance providers offer discounts if you purchase online.
Q6. How to download two-wheeler insurance online?
You can download the two-wheeler insurance document online with the following steps -
Go to the insurance provider’s website.
Enter your policy ID and click the download option to get your documents.
Also, you can visit your nearest insurance provider and ask for their customer service representative to help you with the documents. In addition, you can also visit the mParivahan app or website to download the insurance copy.
Q7. What is a two-wheeler insurance premium?
A Two-wheeler insurance premium is a predetermined amount you pay the insurance provider, against which you can file a claim if any emergency occurs. Also, if you fail to pay your insurance premium, your policy will get void, which results in repurchasing the policy. Thus, paying the premium for two-wheeler insurance online on time is advisable to avoid such circumstances.
Q8. What happens if two-wheeler insurance is not renewed?
It is mandatory to renew two-wheeler insurance online because failure to do so will lead to a policy lapse. In this case, you won’t be able to raise a claim if your bike is damaged due to an accident or natural disaster. Hence, you will have to pay for the entire expenses. Also, if you ever get caught riding with an expired policy, you will be fined or jailed, depending on the state law.
With the FAQS on 2-wheeler insurance given above, it will be easier to understand a few terms. Thus, buying a bike insurance plan becomes easy. So, if you have not purchased or renewed your bike insurance yet, it is time now!