Two Wheeler Insurance
In India, motor insurance is available according to vehicle type like Two wheeler insurance, Private car insurance and Commercial vehicle insurance. Like other insurance, two wheeler insurance provides the financial assistance to you against losses arise from any unfortunate event. For instance, it protects your two wheeler against any visible accidental damage which may cause any financial loss and against any liability to third party which has arises due to use of two wheeler. In India, under the provision of Motor Vehicle Act 1988, Motor Two Wheeler Third Party Liability insurance policy is mandatory to everyone who owns two wheeler and using on public road. General insurance company registered under IRDAI (Insurance Regulatory Development Authority of India is an insurance regulatory body) from which insurance companies obtain license to carry insurance business, can provide two wheeler insurance policies. Everyone who owns a two wheeler needs to have mandatory two wheeler insurance. There’s a vice-versa relationship between a bike and the rider that is keeping it safe and secure because safety is priority. Two wheelers are more prone to road accidents because of its high vulnerability characteristics. Therefore correct and adequate insurance is very important. Two wheeler comprehensive policy not only provide safeguard against any financial losses arise due to any unforeseen accidental damage to your two wheeler but also having coverage for liability arise towards third party. Hence, investing in buying two wheeler insurance or any other form of insurance products is worth it.
Types of Covers in Two Wheeler Insurance By ShriramGI
What ShriramGI Cover in Two Wheeler Insurance
What ShriramGI Does Not Cover in Two Wheeler Insurance
Two Wheeler Insurance - Additional Covers
Here's Why You Need to Buy Two Wheeler Insurance
Why to Choose Shriram's Two Wheeler Insurance Policy Online?
Key Features of Two Wheeler Insurance by ShriramGI
|Key Features||SGI Benefit|
|Premium||Starting from 482* / INR (* The premium is excluding GST for Third Party Liability Only)|
|No Claim Bonus||Up to 50% Discount|
|Add-Ons||Nil Depreciation & RSA|
|Claim Process||Hassle-free claims process|
|Own Damage Cover||Available|
|Damages to Third-Party||Available|
Two Wheeler Insurance Plans That Fit Your Needs
Third Party Insurance
Third party cover is mandatory in India for every vehicle owner as per the Motor Vehicles Act, 1988. The third party cover saves you from the expenses of damage to the third party property or vehicle. It covers the co-passengers too. Therefore consider third party cover before you go for any other two wheeler insurance policy covers
comprehensive two wheeler insurance cover is one of the best and most preferred insurance policies available with every general insurance company. This cover is very useful because of the package feature containing a third party as well as its own damage covers. Select this comprehensive coverage by paying a little extra.
Know more about the difference between comprehensive and third party two wheeler insurance
|Own damage to two-wheeler due to an accident.||No||Yes|
|Own damage to two-wheeler due to fire||No||Yes|
|Own damage to two-wheeler due to natural calamities||No||Yes|
|Third party damage to the vehicle||Yes||Yes|
|Third party damage to the property||Yes||Yes|
|Personal accident cover||Yes||Yes|
|Theft of the two wheeler||No||Yes|
You can intimate Two-Wheeler claim with following options
Call on our toll-free number
Intimate a claim by visiting
Make Your Two Wheeler Insurance Claims Easy With SGI
- It is important to inform the insurance company instantly after the incident caused by you or someone else. Inform every single detail that happened at the spot.
- Take guidance from our claim representatives to proceed properly. Ask for the requirement or any other documents to complete the process of claim. They will assist you accordingly to file your claim easily.
- You can track your claim status and get timely updates.
Benefits of Buying Two Wheeler Insurance Policy Online
The right choice:
The Internet is the most revolutionary platform that provides information in surplus. You can get to know each and every detail about risks coverage, add-ons, key-features, exclusions as well as the terms and conditions. Online you can easily get suitable two wheeler insurance as there are ample options available.
More coverage options:
When you buy two wheeler insurance online, you will get plenty of coverage options to choose from. Online insurers suit your cover requirements as per the availability. You yourself can explore the types of insurance covers such as third party liability, own damage, and comprehensive. own damage.
Personal Accident Cover for Owner-driver:
Personal accident cover is included in every two wheeler insurance policy with multiple benefits and offers. It compensates for partial and permanent disability. In case of any physical loss of the owner-driver, they will be recovered by the offered compensation due to an accident.
It is good to know that a comprehensive insurance cover combines third party, own damage, and compulsory personal accident (CPA). It gives you complete protection throughout your tenure.
How to Know if You Are Buying Two Wheeler Insurance is Right?
24X7 claim notification service
We are responsible to notify you every single update of your claim registered here. Our claim representatives are fully attentive and active to feed you back whenever needed. Customers are free to put his/her query at any time and it will be resolved in a suitable time period.
Survey and assistance within a day
The facility of the survey is also given on the same day of an inquiry, accordingly assistance is offered to the concerned person or customer.
Quality claim settlement & Customer satisfaction
We ensure that the quality of claim settlement and customer satisfaction are taken care of in each and every step of claim settlement. We believe in serving the best to the customers by providing a clean claim settlement process.
Simple Claims Procedure
The claim settlement process for our customers is easy and hassle-free. So, customers can't feel any complications.
Two Wheeler Insurance: Terminologies
Two wheeler insurance: It is the ultimate safety plan that falls under the general insurance category. It protects vehicle owners from financial losses in case of natural and man-made calamities. As per the law of Motor Vehicles Act 1988 and it is mandatory to buy.
Claim settlement: It is important to check the claim history of the insurance company because that can very well explain the customer’s satisfaction on a higher level. Good claim settlement ratios say all good about the insurers.
Add-ons: As the name suggests, add-ons are the additional coverage or you can say cover for extra protection. You must check this add-on availability i.e. zero depreciation cover.
Insured Declared Value: IDV is considered as the current market value of any vehicle i.e. the maximum sum insured. IDV is one of the essential factors that should be focused on while purchasing two wheeler insurance policy.
What is Long Term Two Wheeler Insurance Policy?
As per latest circular by the IRDAI, 1st September 2018 after honourable Supreme Court order it is mandatory to 5 years insurance policy for fresh (new ) two wheeler in India. Whereas, two to three years policy tenure also available for old vehicles, you can get from Shriram General Insurance (SGI). Old long term product is a filed product by SGI for 2 & 3 years policies. Two wheeler long term insurance policy is available to cover your two wheeler for 2 years, 3 years and 5 years in one go. The cover has made available for all two wheeler owners across India permitted by IRDAI. It is to combat non-renewal of two wheeler and also to encourage people to buy or renew mandatory two wheeler insurance (TP liability policy) on time. Though, two wheeler insurance 3 years is not mandatory to buy for older vehicles. Still, it is the best idea to invest for the long term insurance cover. Long term two wheeler is worth buying as it offers multiple benefits, discounts on premium rates. Also, it helps defencing the yearly increases in third party premiums.
Benefits of Two Wheeler Insurance Long Term Insurance
If you are one of those who always forgot to renew their bike insurance policy on time, two wheeler long term insurance policy is the right choice for you.
- Most convenient: Choosing a long term insurance policy is much beneficial for every two wheeler rider because it is convenient in every way. It is convenient because you just have to spend once and feel free for long term. That’s the reason it is favourable for every kind of insured.
- Dismiss yearly renewal: Long term two wheeler insurance (LTTW) option save time because of avoiding the renewal of policy every year. It is really beneficial as you don’t have to bother once bought long term policy. Those who generally forget to renew their two wheeler insurance policy almost every time; they must feel lucky with two wheeler insurance long term. Because they don’t have to set a reminder for renewal every year. Just one time renewal or buying two wheeler insurance and tension free for complete three years.
- Avoid non-renewal risks: The most common reason for non-renewal on time is people ignore or show reluctance because of the complicated process. Sometimes, the two wheeler got stolen or meets with an accident. These reasons considered as the delay in the insurance renewal. That's why the long term insurance saves one from hassles every year. Hence, it is quite unmanageable to keep track if one has more than one policy. Even if someone remembers the date of renewal he/she can't renew because of lack of time or some other reason.
- Discount on own damage premium: According to the different insurance companies, discounts and offers vary. Insurers provide discounts on long term insurance you opt for. Therefore, this is beneficial because it saves your money and time. Insurers provide various discount offers or coupon which helps in premium price reduction. This is one of the superb ways through which customer attraction increases; everyone wants to save as much money as they can. Long Term policies offers long term discounts, incremental NCB, save enhancement of Third Party premium every year.
- Saves money and time: Buying long term insurance policy can save money and time. This helps to avoid a number of policies from getting lapsed. It saves a lot of time by letting you stay inside the house or office and complete the process online. It gives a complete comfort zone and you don’t have to unwantedly rush to the branches poured in sweat. So, you must have realised the fact that making policy online is much relieving than any other way. This is how it saves your time by not going anywhere and money because you didn’t spend a penny on transport.
The step by step guide to buy two wheeler insurance
Some of the people get confused about how to buy two wheeler insurance policy. Most preferably buying two wheeler insurance is a little convenient as compared to offline. Therefore, it is advisable to buy bike insurance online because of home comfort and easy access. The process is really familiar that you can buy policy on your own and if you feel any confusion assistance is right there to help you out.
Following are the step by step guide you can see
- Go to website: The first thing you choose a website after all comparison for example shriramgi.com there are multiple of insurance products available other than two wheeler like car insurance, home insurance, travel insurance, commercial vehicle and more. Select the one you prefer i.e. two wheeler insurance.
- Click two wheeler tab: After you have visited the website click on the two wheeler insurance tab because you have to buy that. Click on Two Wheeler tab – you will find four more options -
- ‘Renew Shriram Policy'', ''Renew Other Insurer's Policy'', ''Buy Online for New Vehicle'', Buy from Saved Quotes’’. Select the one you want whether to buy or renew as per your choice and requirement.
- Buy Online for New Vehicle: After clicking ‘Buy Online for New Vehicle’ you will get a page requires customer’s basic details, fill the basic information to generate quote. Personal information like Proposer's Full Name, Mobile, Email Address, City, and Area. As well as ''Vehicle Information'' like City where the vehicle was registered (RTO), Bike Make, Fuel Type, Registration/Invoice Date, Bike Model and other required mandatory details.
- Generate Quote/Calculate Premium: After you have filled the entire necessary details click on to the ''Calculate Premium'' button and a new page will open with all premium computation sheet with quote-id, quote date, policy type, cover description along with sum insured and the premium. Do check the conditions and warranties. Your quote will be generated. And, then click ‘’Proceed Next’’.
- Additional Information/ RTO information: The next step is filling up the ''Additional Information'' where you have to give more information about your two wheeler. Fill RTO information. Like Registration number, Engine Number, Chassis Number, Nominee details, and other important information. Choose documents that are required to upload such as RC copy, NCB reserving letter, Invoice/Delivery Challan, Renewal Notice, and other. And, the click on ‘’Proceed Next’’. The proposal will be updated.
- Payment Gateway: Finally you are here, on the ‘’Payment Gateway’’ page with proposal summary and premium computation sheet along with insured and nominee details. After you have revised the whole application choose the preferred payment gateway that may via Debit card, credit card, Net Banking, Paytm and more. Choose one of your choices through which you feel comfortable for payment.
FREQUENTLY ASKED QUESTIONS
Written By: Shriram General Insurance - Updated: 15th March 2021
Shriram General Insurance Co. Ltd. (In partnership with Sanlam, South Africa)
E-8, EPIP, RIICO Industrial Area, Sitapura, Jaipur - 302022 (Raj.)
Toll free: 1800-300-30000(Policy Holders), 1800-103-3009(Others) Fax: 0141-2770692, 2770693