Two Wheeler Insurance
Buy/Renew Bike Insurance Policy Online
Buy/Renew Bike Insurance Policy Online
| Key Features | Benefits of IFFCO-Tokio |
|---|---|
| Premium | Starting at only ₹1.5 per Day* |
| NCB Benefits | Get up to 50% Discount |
| Easy Claims | App-based Claim Settlement within 4 Hours |
| Claim Assistance | Available |
| Own Damage(OD) Cover | Available under Comprehensive Insurance |
| Damages to Third-Party | Available |
| Personal Accident (PA) cover | Available |
| Online Renewal | Available |
| Quick Claim Settlement | Available |
Buy/Renew Bike Insurance Policy Online
There are two types of bike insurance plans, i.e. third-party bike insurance & comprehensive bike insurance. Both of these Two Wheeler Insurance plans offer different levels of protection. Let us see the coverage for each type of two wheeler insurance plans:
Comprehensive bike insurance policy covers one’s own damage as well third-party liabilities.
Key Things to remember:
Third Party Two Wheeler Insurance plans only covers any damage to a third party.
Key Things to remember:
You require two wheeler insurance in India due to following reasons –
Mandated by Law - Having a bike insurance plan is compulsory as per the Motor Vehicles Act.
Covers Repair Costs - A bike insurance policy ensures that your vehicle is restored to its original condition without putting a dent in your finances.
Covers Third-Party Liabilities - Bike insurance plan will cover your legal liability for third party losses.
Bike insurance, also known as motorcycle insurance or Two Wheeler Insurance, provides several benefits to riders and owners of motorcycles. These benefits can vary depending on the type of coverage you choose and the specific insurance policy, but generally, bike insurance offers the following advantages:
Provide Financial Coverage : With a Two Wheeler Insurance policy, you will be financially secured in case your bike gets damaged due to any natural or man-made disaster. This will help you avoid hefty expenses that you would have to pay from your own pocket.
Fulfill Legal Requirements : According to the Motor Vehicle Act, it is compulsory to have at least a basic third-party insurance policy. Without this policy, it is illegal to ride your bike on Indian roads. Hence, with a two-wheeler policy covering you, you have nothing to worry about!
Protection against Hefty Fines : Riding your bike on Indian roads without having a motor insurance policy could result in you ending up with a hefty fine. With a Two Wheeler Insurance policy in place, you can easily avoid this unnecessary hassle.
Optional Add-ons : You can also opt for better coverage in the form of a comprehensive bike insurance policy. Such policies also allow you to include various useful add-ons such as towing, zero-depreciation, no claim bonus, etc.
Buy/Renew Bike Insurance Policy Online
The coverage in your bike insurance policy depends on the type of policy that you have selected. IFFCO Tokio Comprehensive Two Wheeler Insurance cover the following types of financial liabilities:
Accidents or Collisions
Covers repair or replacement costs for your bike in case of an accident.
Theft
Protects against financial loss if your bike is stolen.
Natural Disaster
Covers damage due to events like floods, earthquakes, cyclones, etc.
Fire & Explosion
Covers damage caused by fire-related incidents.
Personal Accident
Offers compensation for bodily injury or death of the owner-driver of the insured vehicle due to an accident.
Third-Party Losses
Covers bodily injury, death, or property damage to a third party in an accident involving your bike.
Two Wheeler Insurance plans have a standard set of exclusions that are not covered by the policy. Let us look at some of the situations in which case your two wheeler insurance policy will not be covering the damages caused to your bike:
Damages while riding under the influence of drugs or alcohol
Damage due to the driver's negligence
Wear and tear of the bike
Mechanical or electrical breakdown
Damage during war and similar conditions
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Buy/Renew Bike Insurance Policy Online
Have you ever wondered why different people are charged different insurance premiums? Well, this is because the price of your bike insurance policy is calculated keeping in mind several factors. Some of these factors include:
Type of cover
One of the first things that affect the price of your bike insurance policy is the type of plan you opt for. Third-party bike insurance plans are the most basic and so cost less but offer limited cover. In case of comprehensive bike insurance, your choice of add-ons will also influence the cost of the policy.
Cubic capacity of the bike
The cost of the third party component of your plan depends heavily on the cubic capacity of your bike. The higher the cubic capacity, the more premium you have to pay for a third party bike insurance policy.
Value of the bike
The higher the coverage amount (IDV) the higher the cost to insure it! In case of a total loss, the insurance company has to provide the current marketing value of your bike (IDV), which is bound to on the higher side for a more expensive motorcycle.
Age
In case of a claim or total loss of your bike, the insurance company provides compensation based on the market value of your bike and its parts. So, when your bike is new, the insurance company is liable to higher payouts and therefore charges you a higher premium for your bike insurance policy. However, as your bike gets older, its market value decreases and so does your insurance provider’s liability in case of a claim. Therefore, as your bike gets older, your bike insurance premiums also decrease.
Accessories
People may include electrical or non-electrical accessories cover in bike insurance and this can affect your bike insurance premium.
Have you ever wondered why different people are charged different insurance premiums? Well, this is because the price of your bike insurance policy is calculated keeping in mind several factors. Some of these factors include:
Type of cover
One of the first things that affect the price of your bike insurance policy is the type of plan you opt for. Third-party bike insurance plans are the most basic and so cost less but offer limited cover. In case of comprehensive bike insurance, your choice of add-ons will also influence the cost of the policy.
Cubic capacity of the bike
The cost of the third party component of your plan depends heavily on the cubic capacity of your bike. The higher the cubic capacity, the more premium you have to pay for a third party bike insurance policy.
Value of the bike
The higher the coverage amount (IDV) the higher the cost to insure it! In case of a total loss, the insurance company has to provide the current marketing value of your bike (IDV), which is bound to on the higher side for a more expensive motorcycle.
Age
In case of a claim or total loss of your bike, the insurance company provides compensation based on the market value of your bike and its parts. So, when your bike is new, the insurance company is liable to higher payouts and therefore charges you a higher premium for your bike insurance policy. However, as your bike gets older, its market value decreases and so does your insurance provider’s liability in case of a claim. Therefore, as your bike gets older, your bike insurance premiums also decrease.
Accessories
People may include electrical or non-electrical accessories cover in bike insurance and this can affect your bike insurance premium.
This is stipulated by the Insurance Regulatory and Development Authority of India (IRDAI) and it is directly proportional to your bike’s cubic capacity.
| Cubic capacity | Premium with effect from 1st June 2022 (Rs.) |
|---|---|
| Not exceeding 75cc | Rs. 538/- |
| Exceeding 75cc but not exceeding 150cc | Rs. 714/- |
| Exceeding 150cc but not exceeding 350 cc | Rs. 1,366/- |
| Exceeding 350cc | Rs. 2,804/- |
Buy/Renew Bike Insurance Policy Online
Buy/Renew Bike Insurance Policy Online
If you love the freedom of open road, then you will love the freedom of choices we provide. We offer easy-to-understand and affordable third party bike insurance plans, comprehensive & depreciation waiver in your bike insurance plans. You can also opt for long-term third-party bike insurance cover or a single-year own damage insurance. Alternatively, you could bundle the two together and enjoy better savings.
As far as protection is concerned, our bike insurance policies provide coverage against accidents, theft, natural calamities like cyclones, floods, storms, lightning, earthquake, landslide, etc. When you ride with us, you get complete protection, on and off the road.
Cashless Repair: Vast network of cashless garages PAN India
High Claim Settlement: High claim settlement provide piece of mind.
Quick Claim Settlement: Instant claim settlement upto 50,000 through QCS app
24*7 Support: Our team is available for your support even on holidays.
Trusted Brand: Servicing our customers for more than 22 years
Wide Network: You can buy bike insurance plan from more than 20,000 agents and branches.
Buy/Renew Bike Insurance Policy Online
80% CUSTOMERS CHOOSE THIS |
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| Coverage under Bike Insurance | Comprehensive Bike insurance | Third Party Bike insurance |
|---|---|---|
| Accident Cover |  |
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| Theft Cover | |
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| Natural Calamities Cover | |
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| No Claim Bonus upto 50% | |
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| Choice of add-ons | |
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| Customization of bike value | |
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| Cashless Claims | |
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| Quick Claim Settlement | |
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| Personal accident cover | |
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| Damage to third party property | |
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| Injury to a third party person | |
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| No hefty fines levied if valid policy in place | |
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There are two ways to purchase a bike insurance. You can either visit our branch or you could go online to make the purchase with just a few clicks and taps. The second option is fast becoming the ‘go-to’ alternative for many motorists. Let us explore the reasons behind this or we can say let us explore the benefits of buying two wheeler insurance online:
Buy/Renew Bike Insurance Policy Online
You can buy two wheeler insurance online with following simple steps :
Buy/Renew Bike Insurance Policy Online
To enjoy continued coverage & to ensure you are legally riding your bike, you must keep your bike insurance policy valid at all times. For this, you need to renew your Two Wheeler Insurance plan well before its expiry date. You can renew your Two Wheeler Insurance plan via two methods. We have explained them below:
Buy/Renew Bike Insurance Policy Online
IFFCO Tokio offers Quick and Easy Two Wheeler Insurance Claim in 3 simple steps using our QCS App:
Intimate - Intimate your claim by calling the toll-free number or through the app itself.
Survey & Verify - Upload documents, photographs, and videos of the damage caused to your bike.
Settle - Once approved, the compensation amount would get transferred to your bank account.
Intimate
Survey & Verify
Settle
Please note that you can register a claim in via following modes –
Get Cashless repairs at 4300+ garages across India
Buy/Renew Bike Insurance Policy Online
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Buy/Renew Bike Insurance Policy Online
Buy/Renew Bike Insurance Policy Online
