6/24/2023 0 Comments Fastlane towing services![]() Insured Declared Value (IDV)Ī vehicle's current market value is its IDV. This means the former will have to pay a higher premium for insurance, while the latter would have to pay a lesser cost. A new bike has a higher value than an old bike. Therefore, when purchasing a bike insurance policy, insurers require you to enter the age of the bike to provide policy rates. The age of a vehicle is also a factor when calculating the policy premium. However, if you own a high-priced sports bike, you will have to pay a greater premium. If you own a low-cost bike, your insurance rate will be lower as well. The manufacture and model of the vehicle are essential elements that influence the bike insurance rate. Here’s the list of factors that influence the cost of a bike insurance policy: Make and model The insurance company calculates the premium amount by weighing various risks. Several factors determine the premium for two-wheeler insurance. Get more information about the available add-on covers.įactors affecting two-wheeler insurance premium Also, get personal accident cover for occupants. These include loss of accessories, legal liability to paid driver, cleaner, or any workman. Multiple optional add-ons coversĬhoose from multiple add-on covers. No claim bonusīenefit from No Claim Bonus and get up to a 50% discount on your own damage premium, depending on the policy years. The unfortunate event may lead to injuries, disability, or death of the owner-rider of the vehicle. Know more about third-party bike insurance coverage. When buying two-wheeler insurance online with third-party coverage, get coverage for third-party injuries or property damage. Get coverage against damages caused to your two-wheeler due to natural calamities, theft, fire, and accidents. Repair your two-wheeler at partner garages and get it delivered to your doorstep within three days. Repair your damaged two-wheeler across 6,500+ network garages and avail of cashless claim facilities. Given below are the key features and benefits of two-wheeler insurance:Ĭashless and reimbursement claim settlementĬovers accidents and natural or man-made calamitiesĬovers third-party injuries and property damagesĬashless claim settlement at 6,500+ network garages To avoid paying fines, purchase or renew two-wheeler insurance online for up to three years. Bike insurance protects you in the event of an accident while riding a two-wheeler/motorbike on Indian highways. Third-party two-wheeler insurance in India comes under the Motor Vehicle Act of 1988. The insurance company offers financial coverage to the bike owner in the event of an accident. Bike insurance is a contract between the bike owner and the insurance provider. ![]()
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