Insurance Format For Two Wheeler

Idv helps in calculating the premium of your two wheeler insurance policy.

Insurance format for two wheeler. When it comes to two wheeler insurance you have two options comprehensive two wheeler insurance and third party insurance. Nowadays two wheelers are considered one of the easiest transports to commute. The major reason behind this fact is that there is a very lesser chance of getting stuck in traffic in addition to the affordability of the bikes and scooters in comparison to cars. Third party insurance is compulsory for two wheelers while the comprehensive policy offers better coverage since it covers both third party and own damage.

National two wheeler insurance offers both of these policies. Each two wheeler is insured at a fixed amount which is termed as the insured s declared value idv. As the name suggests a comprehensive two wheeler insurance policy gives you and your bike a 360 degree cover against losses suffered due to damage or theft of the insured vehicle. Here s how it works.

Which insurance is mandatory for bikes or two wheelers. The endorsement typically is of two types premium bearing and non premium bearing. Understand theft cover of two wheeler insurance plans. You will also get protection against liabilities arising due to damages to any third party vehicle property or person.

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. This sum insured as part of the two wheeler insurance is calculated based on several factors. You can either opt for a liability only insurance policy or a comprehensive insurance policy. In the video below.

In addition to it any third party liability which has arisen due to the use of your two wheeler is covered under bike insurance. As per the motor vehicle act it is mandatory to buy a third party bike insurance policy without which one cannot use the vehicle on road. Ans the term endorsement with reference to two wheeler insurance refers to an agreement that is documented proof of any changes in the policy terms. It is a rule put in place by the government to have a motor insurance policy if you are planning to ride a motor vehicle.