Two-Wheeler Price: Crores of people use two-wheelers in India. Commuting is very easy using a two-wheeler. A Two-wheeler insurance plan is a general insurance that provides protection to the insured two-wheeler and its owner/driver against unfortunate events. This includes road accidents and natural calamities which may require unforeseen expenses for the owner. This coverage is offered for two-wheelers such as motorcycles, scooters, etc.
Two Wheeler Insurance Policy
Importance of Two Wheeler Insurance
As per the Indian Motor Vehicles Act, 1988, third-party vehicle insurance cover is mandatory for any two-wheeler plying on Indian roads. Two-wheeler insurance plans not only provide coverage against third-party liability but also provide comprehensive coverage to the owner/driver of the two-wheeler. These plans cover the cost of repairs and damages caused to the insured two-wheeler due to the accidental death or disability of the owner/driver.
Types of two-wheeler insurance
Whereas basically two wheeler insurance is divided into two parts. Each of these two types offers a different set of benefits and perks to the policyholders. This includes third party insurance and comprehensive two-wheeler insurance. In such a situation, to avoid any problems, you should know which two-wheeler insurance policy you are taking.
Third-Party Insurance:
The plan covers the insured person and the owner/driver of the two-wheeler vehicle against third-party liabilities arising out of an accident, causing damage or loss to a third party or its property. In this type of policy, only third-party damages caused to the insured vehicle are covered. Any damage caused to the insured two-wheeler is covered only in a comprehensive plan. Third-party two-wheeler cover is mandatory.
Comprehensive Two-Wheeler Insurance:
Also called a package policy, this two-wheeler insurance provides comprehensive coverage to the insured two-wheeler. Apart from third-party liability cover, the plan also covers the disability or death of the owner/driver and damage caused to the insured two-wheeler due to accident, theft, riots, fire, earthquake, or explosion. There are many add-on benefits like roadside assistance cover, towing assistance, zero depreciation cover, and emergency fuel assistance.
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