Unlike the western countries where two-wheelers are used for sports and "style statement", most Indians use two-wheelers as a means for day-to-day commuting. But they often ignore buying motorbike insurance policy for their two-wheelers as they believe their vehicle is not as expensive as a four-wheeler. But this doesn't mean that you need to ignore insurance for it. Motor insurance guarantees that your two-wheeler remains equally safe and protected. An increasing number of road accidents in current scenario make it even more imperative to get two-wheeler insurance at the earliest.

Types of Motor Bike Insurance Policy

Typically there are three types of motorbike insurance policies available in India:

1. The third party only motorbikes insurance: It is the basic type of cover and the minimum required by the law. This will only cover the liability for damage or injury to a third party and damage to property in an event of an accident caused by your two wheeler vehicle. This does not cover you for damage to your own bike and you will not be insured against it being stolen and so you must buy another insurance too to safeguard your expensive bike especially in the case of theft.

2. Third party fire and theft: It is the next level of cover that protects you from claims made against you in the case of an accident. It also offers cover if your motorbike is damaged under fire or being stolen. Any damage caused to your bike during the theft or attempted theft is also covered under this policy. However, third party fire and theft doesn't include cover for damage to your motorbike, or for personal injury.

3. Comprehensive Cover: A comprehensive cover allows you to claim for any damage to your motorbike (except for anything that comes under your policy exclusions), and can also offer insurance for accidental damage to your motorbike, medical expenses, etc., You may also be entitled to a temporary replacement motorbike if it needs to be fixed after an accident, but double check your policy documents to see if this benefit is included.

Motor Bike Insurance Exclusions

Just like other policies, motorbike insurance policies have exclusions too which streamline what type of activities your insurance will not give cover for. These exclusions vary from one company to another, but a common example is that you will not be covered by your insurance if you race your motorbike. If you are caught battling in race competition without the proper insurance cover, you'll be fined and your insurance premium will increase substantially. Before purchasing an insurance policy, you should always verify the terms and conditions for any exclusion that is to be applied to the policy.

Factors affecting insurance premiums

As a rule of thumb, with insurance policy benefits comes the liability to pay premiums too which are mostly affected by your riding history, address, motorbike insurance type, security, modifications, etc. Hence, it is advised to drive safe and abide by all the traffic rules to cut down on premiums significantly.

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