Two wheeler insurance is extremely important if you want to ride your bike on Indian roads. Not only is it mandatory to have third party liability insurance under the Motor Vehicles Act, 1988, having two wheeler insurance also provides financial protection in case of damages and losses from thefts and accidents.



If you've not covered your two wheeler with insurance, then you must buy a policy. But before you buy a policy, there are some things you need to consider so that you can make the right decision with regards to the policy and its coverage.

Here are 5 things to remember before buying two wheeler insurance:

Type of insurance coverage:

There are three types of two wheeler insurance coverage:

Third party liability coverage

Own damage insurance

Personal accident cover

A third party liability insurance provides protection against claims made by third parties for damage to property or harm or injury caused by the two wheeler driver. This insurance coverage is mandatory under law. For two wheelers purchased after September 2018, only long term two wheeler insurance i.e coverage for 5 years is available. For old two wheelers, tour phượng hoàng cổ trấn single year policies are available.

Own damage insurance covers the risk of theft, loss or damage to the two wheeler due to a range of different factors. This policy can be purchased either bundled with the third party liability or separately for new two wheelers.



Personal accident cover provides compensation in case of disablement or accidental death. It is important to know what type of coverage you want while buying the policy. If you opt for the mandatory third party liability coverage, it does not cover any losses on account of accidents or theft of the two wheeler.

Insured Declared Value (IDV):

The amount that is insured in the policy is called IDV. This is the written down value of the two wheeler after considering the impact of depreciation. The value of an own damage policy is the IDV. You can opt for a higher IDV but it will reflect as a higher premium. The compensation for third party liability damage policies is generally fixed and does not change.

Insurance add ons:

When you buy two wheeler insurance online, you can also opt for add ons or additional items of coverage on payment of additional premium. For example, if you opt for zero depreciation, then the IDV will be equal to the off road purchase price of the two wheeler. Opting for engine protect will provide protection against water damage to the engine.

No Claim Bonus:

No Claim Bonus or NCB is a type of bonus or reward that the insurance company gives to the policyholder for not making a claim in the previous year. While buying two wheeler insurance or renewing your policy, it is important to consider the No Claim Bonus (NCB) percentage. This percentage will reduce the premium amount. However, if you don't renew your insurance policy in time and it lapses, you will lose the benefit of NCB that you have.

Online is cheaper than offline:

One thing to remember while buying two wheeler insurance is that the insurance is cheaper when you buy it online. Two wheeler insurance online is cheaper than a policy bought offline through an agent. This is because when you buy the policy online, the insurance company does not have to pay the agent's commission.












Anujit Bhattachaarya is a finance student who loves to write in his free time. He has spent a considerable amount of time researching about two-wheeler insurance. Through his work, he has listed things to remember before taking out one