If you have a bike, then obviously you must insure it against any unforeseen incident such as accident or any natural disaster. Going for a two-wheeler insurance, financially protects your bike from any kind of loss or damage caused. Also, you save yourself from spending a lot of money in order to bear the expenses of your bike.

Features of Two-wheeler Insurance

• Two-wheeler insurance policy provides financial coverage against any unforeseen incident such as- accident, damages caused by your bike.
• In order to avail the benefits of two-wheeler insurance, you need to pay premium as per your insurance policy.
• In India, two-wheeler insurance policy has been mandated by the Motor Vehicles Act, 1988. That means, without a valid insurance policy, you cannot ride your bike on the road.
• With the help of this insurance, you can claim personal accident coverage in case you have met with an accident.    
• Also, your bike gets insured in case of any natural calamities such as- landslides, earthquakes, flood etc.

Types of Two-Wheeler Insurance Coverage Policy

• Third Party Liability Insurance Coverage Policy – As per Indian law, this insurance is mandatory if you want to ride on the roads. It gives coverage for any kind of loss or damages caused by your insured two wheeler vehicle to the third party or property. This insurance also covers any bodily injury of any third party, third party property damage or personal accident coverage of the two-wheeler vehicle owner. But do keep in mind that, third party insurance does not provide any coverage for any kind of loss or damage caused to your insured vehicle. The premium that you need to pay is also quite low.    
• Comprehensive Insurance Coverage Policy – This insurance provides complete coverage to your bike as well as to the third party in case of any loss or damage. The comprehensive insurance provides financial coverage in case of third party property damage or bodily injury, death of a third party, personal accident coverage for the bike owner, damage caused to your bike due to any natural calamity, or in case it has been stolen. The premium is generally high as it is providing complete coverage. Also, you can avail the benefits of add-on coverages.

Add-on Coverage of Two-wheeler Insurance

If you want to increase your financial protection under two-wheeler insurance coverage, you can pay some extra bucks as premium and can enjoy the benefits of add-on covers. Following are the add-on covers that you can opt for-

• Zero Depreciation Cover – Usually at the time of claim, the cost of your two-wheeler vehicle’s depreciable parts such as- plastic or rubber are not covered under the insurance coverage. The cost of depreciation is borne by you and not by the insurance company. But if you opt for this add-on cover, then you need not have to bear any depreciation cost and you can claim the whole amount.
• Personal Accident Coverage for Pillions – If you opt for this add-on cover, then you need not have to pay for the medical expense of the pillion rider in case of any injury. Personal accident cover for pillion rider gives financial protection in case of any disability or death of the pillion rider when met with an accident. 
• Consumables Coverage – This particular add-on cover provides the financial support on engine oil, bolts, nuts and other consumables. Usually, the cost of this consumables are not covered under two wheeler insurance policy. So, you just need to pay some extra penny to enjoy the coverage of the consumables.   
• Engine Cover – The expense of repair of engine due to water logging, leakage of lubricating oil etc. can cost you a hell lot of money. So, if you opt for engine coverage add-on, then you need not have to pay a huge amount for the repair of your bike’s engine.
• Accessories Coverage – This add-on provides financial protection against any damage of your bike’s accessories- either electrical or nonelectrical.  
• Return to Invoice Cover – With time, the market value of your bike will depreciate. If you opt for this add-on cover, in case your bike gets stolen, the insurance company will reimburse the actual value of the bike.     

Benefits of two-wheeler insurance

• The third-party liability or comprehensive insurance coverage provides financial protection.
• You can save a lot of money when you opt for the two-wheeler insurance policy.
• It provides medical expenses for personal accident. 
• You can opt for add-on covers to increase the coverage for your bike. 
• It provides peace of mind.