Two Wheeler Insurance

Total Cover

100% Claim Settlement

No

Documentation

Reasonable

Premium

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Total Cover

100% Claim Settlement

No

Documentation

Reasonable

Premium

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Client Testimonials​

Prakhar Srivastava
2 months ago
They guided me through the intricacies of various insurance options, ensuring I fully understood each policy's coverage and benefits. Their transparency and willingness to address all my concerns instilled a sense of trust and confidence in their services.
punitchibber chibber
2 weeks ago
Good service whenever we call to them they give positive response i have a claim they support and my claim got settled
Agam Kansal
2 weeks ago
Brilliant place for all types of insurance. Always connected with every claim settlement.. Hassle free.. Kudos to beemawala..
rahul goyal
6 months ago
Beemawala and team is a best Company for take any type of insurance. They support and take care of your claim . Thanks a lot for your support of my claims many times .
Devyani Kharbanda
2 years ago
Shantanu is professional and very prompt in responding to my questions. I’m a repeated client and he’s been supportive throughout. I highly recommend his services. I wish him and his team good luck for future.

TOPIC - What is Two Wheeler Insurance ?

It provides a One-year third-party premium and a one-year own damage (OD) premium but we also have option to buy two year or three year policy with complete coverages at one go.

Two Wheeler Insurance provides coverage for vehicles against various risks, including accidental damage, theft, and third-party liabilities. It offers financial protection to two wheeler owners in case of unfortunate incidents, helping them manage repair costs, legal expenses, and damages to third parties. Having two wheeler Insurance is mandatory in India as per the Motor Vehicles Act, ensuring responsible driving and safeguarding both Vehicle owners and third parties from potential financial burdens.

⛦ Example Scenario:


In the case of Rahul’s two wheeler accident in Shimla, where his two wheeler was washed away in a flood, his two wheeler nsurance policy proved to be immensely helpful. The incident was immediately reported to the insurance company, and a surveyor was assigned to assess the damage. As the policy covered damages from natural disasters, the insurance claim was accepted. The two wheeler was towed to an authorized garage for repairs, and the insurance company settled the repair bills directly, relieving Rahul from financial burden. The incident highlighted the significance of having a reliable two wheeler insurance policy to protect against unforeseen events and ensure peace of mind for Indian two wheeler owners.

Coverages Of Two Wheeler Insurance

Own Damage (OD) Coverage

Own Damage (OD) Coverage

Protection against damages to your Vehicle due to accidents, fire, theft, vandalism, or natural calamities.

Third-Party Liability Coverage

Third-Party Liability Coverage

Covers legal liabilities for bodily injuries or property damage caused to third parties in an accident involving your vehicle .

Personal Accident (PA) Cover

Personal Accident (PA) Cover

Compensation for injuries or death to the owner/driver of the insured two wheeler .

Passenger Cover

Passenger Cover

Coverage for passengers traveling in the insured Vehicle against bodily injuries or death.

Zero Depreciation Cover

Zero Depreciation Cover

Full reimbursement of repair/replacement costs without considering depreciation.

Return to Invoice (RTI) Cove

Return to Invoice (RTI) Cove

Ensures reimbursement of the Vehicle’s invoice value in case of total loss or theft.

Additional Add-ons OF Coverages of Two Wheeler Insurance

Zero Depreciation Cover

Zero Depreciation Cover

Provides full reimbursement for repair/replacement costs without considering depreciation.

Return to Invoice (RTI) Cove

Return to Invoice (RTI) Cover

Ensures reimbursement of the Vehicle’s invoice value in case of total loss or theft.

Passenger Cover

Passenger Cover

Coverage for passengers traveling in the insured Vehicle against bodily injuries or death.

Factors Determining the Premium of Coverages of Two Wheeler Insurance

Two Wheeler Make and Model

Two Wheeler Make and Model

The brand, model, and variant of the Two Wheeler play a significant role in premium calculation. Expensive or high-end Two Wheeler may attract higher premiums.

Two Wheeler 's Age

Two Wheeler 's Age

Since this policy is designed for brand-new Two Wheeler , the age of the vehicle is a crucial factor in premium calculation. Newer Two Wheeler usually have lower premiums.

Insured Declared Value (IDV)

Insured Declared Value (IDV)

The IDV represents the Two Wheeler’s current market value and is a major factor in premium calculation. Higher IDV results in a higher premium.

RTO Number / State

RTO Number / State

The location where the Two Wheeler is registered (RTO number or state) affects the premium. Metropolitan cities or certain states may have higher premiums due to increased risks.

Engine Capacity

Engine Capacity

The engine’s cubic capacity also influences the premium. Two Wheeler with higher engine capacity may have higher premiums.

Fuel Type (CNG / Petrol / Electric)

Fuel Type (CNG / Petrol / Electric)

The type of fuel used in the new Vehicle affects the premium, with CNG and diesel-powered Vehicles potentially having different premium rates compared to petrol or electric Vehicles.

Previous Claims History

Previous Claims History

A history of past claims may affect the premium amount.

Policy Add-ons

Policy Add-ons

The choice of add-ons, like zero depreciation cover or engine protection, will impact the total premium cost.

No Claim Bonus (NCB)

No Claim Bonus (NCB)

NCB earned for every claim-free year can significantly reduce the premium amount.

Voluntary Deductibles

Previous Claims History

Opting for a higher voluntary deductible amount can reduce the premium.

Major Differences Between Own Damage (OD) Cover and Third-Party Liability Cover In Two Wheeler Insurance

Coverage Own Damage (OD) Cover Third-Party Liability Cover
Definition
Provides coverage for damages to your vehicle due to accidents, theft, natural calamities, fire, and more.
Covers legal liabilities for damages caused to third-party property, injuries, or death due to your vehicle's involvement in an accident.
Scope of Coverage
Protects your own vehicle against a wide range of perils and damages.
Only covers damages and injuries caused to third parties, not your vehicle.
Premium Determination
Based on factors like vehicle's make, model, IDV, and add-ons chosen.
Regulated by the Insurance Regulatory and Development Authority of India (IRDAI). Premium rates are predefined based on the vehicle's engine capacity.
Coverage Extent
Comprehensive coverage for your vehicle, including theft, own damage, and accidents.
Limited to liabilities arising from third-party property damage, injuries, or death.
Add-ons
Various add-ons like zero depreciation, engine protection, roadside assistance, etc., can be availed to enhance coverage.
No add-ons are available, as it is a standardized cover as per IRDAI regulations.
Legal Compliance
Optional, but highly recommended for complete protection of your vehicle.
Mandatory by law to drive a vehicle on Indian roads.
Claim Settlement
Applicable for damages to your vehicle, subject to policy terms and conditions.
Covers financial liabilities towards third parties up to the prescribed limits.
Insurance Premium
Can significantly impact the premium amount based on the extent of coverage and chosen add-ons.
Premium rates are fixed as per the IRDAI guidelines and are based on the vehicle engine capacity.

How to Settle Two Wheeler Insurance Policy Claims?

- Claim due to an accident -

Inform the Insurer

Inform the Insurer

Notify your insurance company about the accident and damages as soon as possible. Provide all necessary details, such as the policy number, date and time of the incident, location, and a brief description of the accident.

File an FIR (If applicable)

File an FIR (If applicable)

If there is significant damage or third-party involvement, file a First Information Report (FIR) at the nearest police station. This is especially important for theft or major accidents.

Survey and Assessment

Survey and Assessment

The insurance company will appoint a surveyor to assess the extent of damage to your vehicle. Cooperate with the surveyor and provide all relevant documents and evidence related to the accident.

Submit Required Documents

Submit Required Documents

Submit the duly filled claim form along with the required documents, such as a copy of the vehicle’s registration certificate (RC), a valid driving license, the FIR (if applicable), and any other documents requested by the insurer.

Repairs and Inspection

Repairs and Inspection

After the assessment, the insurer may arrange for an inspection of the damaged vehicle or direct you to an authorized garage for repairs. Some insurers may offer cashless facility at network garages.

claim settlement

Claim Settlement

Once the repairs are completed, submit the bills and invoices to the insurance company for reimbursement or settlement as per the policy terms.

Claim Amount

Claim Amount

The claim amount will depend on the extent of damage and the terms of your insurance policy, including the deductible and policy coverage.

Excess Payment

Excess Payment

Pay the applicable excess or deductible amount as per the policy terms. The insurer will cover the remaining claim amount.

Necessary Documentation

Necessary Documentation

Keep copies of all documents related to the claim, including the settlement letter and payment receipt, for future reference.

How to Settle Two Wheeler Insurance Policy Claims?

- In case of theft of the vehicle -

File an FIR (If applicable)

File a Police Report

Immediately report the theft to the nearest police station and obtain a First Information Report (FIR) or a Non-Cognizable Report (NCR) as required by the insurer.

Inform the Insurance Company

Inform the Insurance Company

Contact your insurance company’s customer support or claims helpline as soon as possible and provide them with all the necessary details about the theft incident.

Submit Required Documents

Submit Required Documents

The insurance company will request specific documents, such as the FIR/NCR copy, original policy documents, vehicle registration certificate (RC), claim form, and any other documents as required.

Cooperate with Investigation

Cooperate with Investigation

The insurer may conduct an investigation to verify the theft incident. Cooperate fully and provide any additional information or documents they may require.

claim survey

Claim Survey

An authorized surveyor appointed by the insurance company will assess the loss and damages to determine the claim amount.

Transfer Vehicle Ownership

Transfer Vehicle Ownership

In case the stolen vehicle is not recovered, transfer the ownership of the vehicle to the insurance company as per their requirements.

Claim Settlement

Claim Settlement

Once the surveyor’s report is received, and all necessary documentation is in place, the insurance company will process the claim settlement.

Claim Payout

Claim Payout

If the claim is accepted, the insurance company will provide the claim payout amount as per the terms and conditions of the policy.

Exclusions of Two Wheeler Insurance

Consequential Loss

Consequential Loss

Insurance may not cover losses that result as a consequence of a covered event, such as financial losses due to missed business opportunities.

Driving Under Influence

Driving Under Influence

Accidents caused while driving under the influence of alcohol or drugs may be excluded from coverage.

Unauthorized Drivers

Unauthorized Drivers

If an accident occurs while someone other than the authorized driver is driving the insured Two Wheeler , it may not be covered.

Racing or Adventure Activities

Racing or Adventure Activities

Damages occurring during racing, rallies, or adventure sports are typically excluded.

Intentional Damage

Intentional Damage

Any damages caused intentionally by the insured or any other person will be excluded from coverage under the Two Wheeler Insurance policy.

Wear and Tear

Wear and Tear

Regular wear and tear of the vehicle or mechanical breakdowns are not covered.

Illegal Activities

Illegal Activities

Accidents caused while using the Two Wheeler for illegal purposes may be excluded.

Loss of Personal Belongings

Loss of Personal Belongings

Loss of personal belongings from the Two Wheeler may not be covered.

War or Terrorism

War or Terrorism

Damages due to war, war-like situations, or acts of terrorism are generally excluded.

Nuclear Damage

Nuclear Damage

Any damages caused by nuclear activity are not covered.

Expired or Lapsed Policy

Expired or Lapsed Policy

If the policy is expired or lapsed at the time of the incident, there will be no coverage.

Documents Required " for Claim Settlement under Two Wheeler Insurance"

- IN CASE OF THEFT CLAIM -

Police FIR (if applicable):

First Information Report (FIR)

A copy of the FIR lodged with the police station reporting the theft of the vehicle.

KYC Documents

KYC Documents

Valid Know Your Customer (KYC) documents of the insured, such as Aadhar card, Passport, Voter ID, etc., for identification purposes.

Insured's PAN Card

Insured's PAN Card

A copy of the insured’s Permanent Account Number (PAN) card to verify tax-related information.

Insured's GST Certificate

Insured's GST Certificate

If applicable, a copy of the insured’s Goods and Services Tax (GST) certificate.

Claim Form

Duly Filled Claim Form

A completed claim form provided by the insurance company, containing all necessary details about the incident.

Policy Document

Policy Document

The original insurance policy document showing the coverage details.

Vehicle Registration Certificate (RC)

Vehicle Registration Certificate (RC)

A copy of the vehicle’s RC to establish ownership and vehicle details.

Driving License

Driving License

A valid driving license of the insured to verify the authority to drive the vehicle.

Keys and Locks

Keys and Locks

All available sets of keys and locks of the stolen vehicle.

Previous Insurance Records

Previous Insurance Records

If applicable, documents related to any previous insurance claims or policies.

No Trace Report

No Trace Report

If the vehicle is not recovered, a No Trace Report from the police stating that the stolen vehicle could not be located.

NOC from Financier

NOC from Financier

In case of a financed vehicle, a No Objection Certificate (NOC) from the financing institution.

Letter of Subrogation

Letter of Subrogation

If the claim is paid to the policyholder, the insured needs to provide a letter of subrogation allowing the insurance company to take legal action against the guilty party.

Documents Required "for Claim Settlement under Two Wheeler Insurance"

- ACCIDENTAL CLAIM -

Claim Form

Accident Claim Form

A duly filled and signed claim form providing details of the accident, the extent of damages, and injuries (if any).

KYC Documents

KYC Documents

Valid Know Your Customer (KYC) documents of the insured, such as Aadhar card, Passport, Voter ID, etc., for identification purposes.

Insured's PAN Card

Insured's PAN Card

A copy of the insured’s Permanent Account Number (PAN) card to verify tax-related information.

Insured's GST Certificate

Insured's GST Certificate

If applicable, a copy of the insured’s Goods and Services Tax (GST) certificate.

Policy Document

Copy of the Insurance Policy

A copy of the valid and active insurance policy for the vehicle.

Police Report/FIR

FIR/NCR Copy(if applicable)

A copy of the First Information Report (FIR) or Non-Cognizable Report (NCR) filed with the police in case of an accident.

Driving License

Driving License

A copy of the valid driving license of the driver involved in the accident.

Vehicle Registration Certificate (RC)

Vehicle Registration Certificate (RC)

A copy of the vehicle’s RC, which includes details such as the registration number, engine number, chassis number, etc.

Estimate of Repairs

Estimate of Repairs

An estimate of the repair costs from an authorized garage or workshop.

Photographs(if available)

Photographs(if available)

Clear photographs of the accident scene, damages to the vehicle, and the location.

Witness Statements

Witness Statements

Statements from any witnesses present at the time of the accident (if available).

Medical Records (if applicable)

Medical Records (if applicable)

Medical documents, bills, and reports in case of injuries to the insured or any third party.

Police Investigation Report (if applicable)

Police Investigation Report (if applicable)

In case of a serious accident, a police investigation report may be required.

Contact Information for Claim Settlement: related to Two Wheeler Insurance Policy

If Policy Obtained through Agent/Broker

Contact your agent or broker first, as they will guide you through the claims process and assist in reporting the claim.

If Policy Obtained Directly from Insurance Company

Contact the insurance company’s claims department directly to report the claim and follow their instructions for a smooth claims settlement.

Claim Contact Information for Policy from Beemawala.com

If you have taken the policy from Beemawala.com, please use the following contact details to register your claim.

Frequently Asked Questions: Two Wheeler Insurance

– You can check your two-wheeler insurance status online through the insurer’s website or mobile app. Alternatively, you can contact the customer service team or visit the nearest branch office.
– You can renew your two-wheeler insurance online by visiting the insurer’s website or app. Enter your policy details, select the coverage, and make the payment.
– To renew your two-wheeler insurance, log in to the insurer’s website, enter your policy details, review the coverage, and complete the renewal process by making the payment.
– You can renew your two-wheeler insurance online by visiting the insurer’s website or app, entering your policy details, reviewing the coverage, and making the payment.
– You can pay for your two-wheeler insurance online through the insurer’s website or mobile app using various payment options like net banking, credit/debit cards, or mobile wallets.
– You can check the status of your two-wheeler insurance online by logging into your account on the insurer’s website or app. You can also contact the customer service for assistance.
– In case of an accident or damage to your two-wheeler, inform the insurer immediately, and submit the required documents for the claim process. The insurer will assess the claim and provide the necessary assistance.
Typically, OD coverage is available for one year, while Third-Party coverage can be purchased for three years for new cars.
– Comprehensive insurance provides coverage for own-damage to your two-wheeler and third-party liabilities arising from accidents. It also offers protection against theft, natural disasters, and other unforeseen events.
– You can renew your two-wheeler insurance online by visiting the insurer’s website or app, entering your policy details, reviewing the coverage, and making the payment.
– Third-party insurance for a two-wheeler provides coverage for liabilities towards third parties for injury, death, or property damage caused by your vehicle.
– NCB stands for No Claim Bonus, which is a discount given on the premium for each claim-free year. It rewards policyholders for not making any claims during the policy term.
– IDV stands for Insured Declared Value, which is the maximum amount payable by the insurer in case of theft or total loss of the insured two-wheeler. It is the current market value of the vehicle.
– You can buy two-wheeler insurance online by visiting the insurer’s website or app, entering your vehicle and personal details, selecting the coverage, and making the payment.
– You can download your two-wheeler insurance policy from the insurer’s website or app after purchasing or renewing the policy. It will be available in a PDF format.
– You can renew your expired two-wheeler insurance online by visiting the insurer’s website or app, entering the policy details, and making the payment. Some insurers may require a vehicle inspection for expired policies.
– You can get two-wheeler insurance online by visiting the insurer’s website or app, filling in your vehicle and personal details, selecting the coverage, and making the payment.
– You can check the validity of your two-wheeler insurance by looking at the policy document or checking the status online on the insurer’s website or app.
– You can download a copy of your two-wheeler insurance policy from the insurer’s website or app after purchasing or renewing the policy.
– Comprehensive two-wheeler insurance provides coverage for own-damage to your vehicle and third-party liabilities arising from accidents. It also offers protection against theft, natural disasters, and other unforeseen events.
– You can get a copy of your two-wheeler insurance policy online by visiting the insurer’s website or app and downloading the policy document in a PDF format.
– The best two-wheeler insurance policy varies based on individual needs and preferences. It’s essential to compare different policies, coverage, and customer reviews to choose the one that suits you best.
– You can find the two-wheeler insurance policy number on the policy document issued by the insurer. It is a unique alphanumeric code mentioned on the top of the document.
– No Claim Bonus (NCB) is a discount given on the premium for each claim-free year. It rewards policyholders for not making any claims during the policy term.
– You can find your two-wheeler insurance policy number on the policy document or the premium payment receipt issued by the insurer.
– As per the Motor Vehicles Act, third-party insurance is mandatory for all two-wheelers in India to cover liabilities towards third parties.
– No Claim Bonus (NCB) is a discount given on the premium for each claim-free year. It rewards policyholders for not making any claims during the policy term.
– You can renew your two-wheeler insurance online by visiting the insurer’s website or app, entering your policy details, reviewing the coverage, and making the payment.
– You can renew your expired two-wheeler insurance online by visiting the insurer’s website or app, entering the policy details, and making the payment. Some insurers may require a vehicle inspection for expired policies.
– You can check the expiry date of your two-wheeler insurance on the policy document or by contacting your insurance provider.
– You can check the insurance status of your two-wheeler by verifying the policy document or checking online on the insurer’s website or app.
– To change the name in the two-wheeler insurance policy, you need to contact your insurance provider and submit the required documents for name correction.
– You can get a copy of your two-wheeler insurance policy online by visiting the insurer’s website or app, logging into your account, and downloading the policy document.

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