Two Wheeler Insurance

Two Wheeler Insurance

Secure Your Vehicle and Yourself from Risks with Two-Wheeler insurance

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Two-wheeler insurance or bike insurance provides financial cover against any damages or losses that you face, which are caused by accidents, theft, and even natural disasters. Two-wheeler insurance also protects the insured vehicle and its owner from any third-party liabilities if it is ever involved in an accident causing injury to any person or causes damage to another vehicle, or property of others.


Bike insurance is mandatory for owners of two-wheelers in India. Without motorcycle insurance, you could end up paying a hefty fine, face imprisonment for up to 3 months, or both. Even unintentional losses caused to third-parties may be payable.


Your bike insurance policy protects you from having to cover these third-party costs such as loss to property and medical expenses. Bike insurance is also essential as it provides financial security for your vehicle. If your vehicle is damaged without bike insurance, then the costs associated with repairs have to be paid by you.


In case of the untimely demise of a third-party, the compensation payable to the surviving members of the deceased person's family would also have to be borne by you if you do not have any two-wheeler insurance.

Features Of Bike Insurance

Purchase a two-wheeler insurance policy from Liberty General Insurance for your motorcycle for a host of attractive features such as:

  • Renewal discounts - to help you stay insured at costs that are easier on your wallet.
  • Roadside assistance – if an accident occurs and you need support, we are just a call away.
  • Instant online policy – get your bike insurance policy online and ensure it is just a few clicks away at all times.
  • Zero documentation – to make the process as simple as possible.
  • No paperwork – avoid trips to your nearest branch for a signature, thanks to our fully-digital solution.

Why Two-Wheeler Insurance?

Two-wheelers offer an affordable means of personal transport for people to commute in cities, towns, and even villages. In areas where travelling via cars or buses is a challenge due to harsh road conditions, it makes sense to own a two-wheeler. They are also incredibly economical and easy on the pocket when compared to cars. However, getting two-wheeler insurance is mandatory under The Motor Vehicles Act.

Apart from the third party liability insurance being mandatory, there are many reasons why you should have two wheeler insurance if you own a motorcycle or bike. This kind of insurance protects your asset – the vehicle if any damage occurs during accidents. It also protects others via third party protection, compensation to the affected parties, and even helps when property owned by others has been damaged. Bike insurance ensures that you have peace of mind always.


Types Of Two-Wheeler Insurance

At Liberty General Insurance, we offer two types of two-wheeler insurance policies. One is a standard annual policy, and the other is a multi-year plan. Let's take a look at both:

Annual Policy

This bike insurance policy is valid for a year, and you need to pay the premium annually. It covers vehicle damage, injury to you, or a third-party. You can renew this policy conveniently via the LiveMobile app or on our website.

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Multiyear Policy

This unique two-wheeler insurance policy is an exclusive offering from Liberty General. The most significant benefit is that you can pay your premium once and get long-term coverage of up to three years! If you are a frequent biker, you should opt for this one-of-a-kind product.

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With both policies, you have access to multiple add-on covers from LGI.

Why Liberty General Insurance?

Liberty General Insurance is a leading general insurance provider in India, with over 91% of all two-wheeler claims settled in the last financial year. Over 1200 dedicated employees, spread across over 110 locations in 29 states and 95 cities in India, provide comprehensive and dedicated support to service all your insurance needs. With over 4300 partner garages and 5000+ partner hospitals as part of an ever-growing network, Liberty General Insurance continues to increase its reach and influence in India while offering solutions to customers across a broad spectrum. Other offerings from Liberty General Insurance include health and personal accident insurance, car insurance, employee compensation insurance, commercial insurance, marine insurance, and fire, and engineering insurance, along with a host of customisable insurance products.

What is IDV?

The insured declared value (IDV) of motorcycles, bikes, and scooters is the sum insured coverage provided as part of the bike insurance policy. The IDV is always based on the selling price listed by the manufacturer of the vehicle, the brand, and the model or variant at the time of commencement of the insurance policy or during renewal. This amount is also adjusted for depreciation.

IDV represents the current market value of your motor vehicle. When a claim is made, this is the maximum amount that can be expected by the insured party.

Two-wheeler insurance premium

Understanding how to calculate your two-wheeler insurance premium on the Liberty General Insurance website is easy:

  • You can click here to navigate directly to the page or go to the homepage.
  • From there, you can click on the two-wheeler tab and select the buy online or renew LGI policy button, depending on your requirement.
  • After this, you will need to provide some necessary information about the motorcycle, its make, and some contact details and personal information.
  • You can then access the quote for your motorcycle based on the information provided by you.
  • As part of the new digital initiatives at Liberty General Insurance, you can also choose to receive updates on your policy after purchase directly via WhatsApp.
  • You can also reach out to our customer support teams with queries related to your two-wheeler insurance premium.

Understanding Third-Party Liability

In India, it is mandatory to have at least third-party insurance cover, to protect against damage caused to others or their property in case of an accident. Third-party insurance cover is one of the main types of bike insurance available in the country. It protects the insured party from legal liabilities associated with the death/disability to third parties. Motorcycle insurance also secures the insured party against damage or loss caused to property. These policies also provide personal accident coverage for the insured party. There is no payout under third party cover when the motorcycle is lost, stolen, or damaged.

  • With effect from September 2018, the sum insured is now increased to Rs.15 lakh, rather than the original Rs.1 lakh.
  • Third-party liability for new vehicles is mandatory for a term of at least 5 years. Personal accident cover can be availed for a minimum of 1 year to a maximum of five years.
  • Personal accident coverage for the insured party is payable regardless of the vehicle in use at the time of the claim. So for people with more than one vehicle, motorcycle insurance, which includes personal accident cover, would automatically be in effect in case of accidents, regardless of the vehicle they were using at the time.

To learn more about the third party insurance policies available with Liberty General Insurance, click here.

Comprehensive motorcycle insurance policies are different, ad cover the liabilities covered by third party insurance while also offering additional protection to the two-wheelers and the insured party. There may be add-ons which are added to the comprehensive cover for two-wheeler insurance, and those that opt for long-term comprehensive motorcycle insurance policies may also have additional benefits such as:

  • Premium rate hike protection - where insurance charges do not rise dramatically
  • No claim benefit – where if no claims are made during the policy period, a rebate is offered on renewal
  • Long-term coverage – where one-time payments provide security for a period longer than one year.

If you would like to learn more about Liberty General Insurance's comprehensive motorcycle insurance policies, click here.

Benefits Of Buying Bike Insurance Online

Buying bike insurance online offers a host of benefits such as:

  • Time savings – Think of a time when you had to go specifically to a branch to get your insurance. Thanks to two-wheeler insurance online, you can now smoothly insure your vehicle from the comfort of your smartphone or computer at your convenience.
  • Safety and security – When you submit your two-wheeler insurance information online, it remains completely safe and secure. With multiple protections to safeguard your data and financial details, providing data and making payments towards your two-wheeler insurance online is easier than ever before.
  • Customisation – If you want to purchase add-ons along with your two-wheeler insurance online, you can do so with ease.
  • Switching insurers – If you get a more competitive offer from another insurance provider or feel that better coverage is being offered, you can easily switch your insurance policy over to the other organisation at the time of renewal.
  • Transparency – All the details are available at the time when you purchase bike insurance online. This visibility ensures that you know all the terms and conditions and that no undue influence is exerted when you apply for your insurance.

Liberty General Insurance- Two Wheeler Package Policy

(The term two wheeler referred to in this Policy will include motor cycle/scooter/auto cycle or any other motorized two wheeled vehicle mentioned in the Schedule.) Now This Policy Witnesseth: That subject to the Terms Exceptions and Conditions contained herein or endorsed or otherwise expressed hereon.

Bike insurance policy inclusions are divided into three sections, let us look at all of them:

Section I - Loss of or Damage to the Vehicle Insured

The company will indemnify the insured against loss or damage to the vehicle insured hereunder and its accessories whilst thereon:

  • i. by fire explosion, self-ignition or lightning;
  • ii. by burglary, housebreaking or theft;
  • iii. by riots or strikes;
  • iv. by an earthquake (fire and shock damage);
  • V. by floods, typhoons, hurricanes, storm or tempest inundation, cyclones, hailstorms or frost;
  • Vi. by accidental external means;
  • Vii. by a malicious act;
  • Viii. by terrorist activity;
  • ix. whilst in transit by road rail inland- waterway lift elevator or air;
  • X. by a landslide or rockslide

Section II - Liability to Third Parties

Subject to the limits of liability as laid down in the schedule hereto; the company will indemnify the insured in the event of an accident caused by or arising out of the use of the insured vehicle against all sums which the insured shall become legally liable to pay in respect of-

  • i) Death of or bodily injury to any person including occupants carried in the insured vehicle (provided such occupants are not carried for hire or reward) but except so far as it is necessary to meet the requirements of Motor Vehicles Act, the company shall not be liable where such death or injury arises out of and in the course of the employment of such person by the insured,
  • ii)Damage to property other than property belonging to the insured or held in trust or the custody or control of the insured. PROVIDED ALWAYS that the company shall not be liable in respect of death injury or damage caused or arising beyond the limits of any carriageway or thoroughfare in connection with the bringing of the load to the vehicle for loading thereon or the taking away of the load from the car after unloading therefrom.

Section III - Personal Accident Cover for Owner-Driver

Subject otherwise to the terms exceptions conditions and limitations of this policy, the company undertakes to pay compensation as per the following scale for bodily injury/ death sustained by the owner-driver of the vehicle in direct connection with the car insured whilst mounting into/dismounting from or travelling in the insured vehicle as a co-driver, caused by violent, accidental external and visible means which independent of any other cause shall within six calendar months of such injury result in:

Nature of Injury Scale of Compensation
i) Death 100%
ii) Loss of two limbs or sight of two eyes or one limb and sight of one eye 100%
iii) Loss of one limb or sight of one eye 50%
iv) Permanent total disablement from injuries other than named above. 100%

Two-Wheeler Insurance Exclusions

The company will not be liable to indemnify the insured for the following:

If no claim is made or pending during the preceding year(s) of your two-wheeler insurance, you are eligible for a No Claim Bonus –

  • 1. Where a loss is covered under any other type of two-wheeler insurance policy with any other insurer or manufacturer's warranty or recall campaign or under any other such packages at the same time.
  • 2. Any consequential loss apart from the damage to the engine's internal child parts due to water ingression/leakage of lubricating oil and damage to gearbox arising out of leakage of lubricating oil due to accidental means.
  • 3. Cost of engine oil and consumables in case of flushing of the engine.
  • 4. Loss or damage, including corrosion of engine due to delay in intimating company or uncertainty in retrieving the insured vehicle from the water-logged area.
  • 5. Where reasonable care has not been taken by the insured to protect the insured vehicle's loss or damage.

Additional Covers For Motorbike Insurance

You can avail of any of these add-on covers on your two-wheeler insurance policy:

1.Depreciation Cover

This cover includes the depreciation amount deducted on the value of replaced bike parts. The parts have to be damaged in an accident.

2.Consumables Cover

This cover includes expenses toward replacing vehicle consumables and accessories which are unfit for use or completely used. These accessories should have been damaged in an accident. Consumables and accessories include grease, lubricants clip, air conditioner's gas, bearings, engine oil, oil filter, fuel filter, brake oil, nuts and bolts, screws, and washers, and the like.

3.Gap Value Cover

This cover includes the difference amount between the amount received for a claim filed under the Own Damage (OD) Section and the vehicle value. The amount that qualifies under the Own Damage section is the Insured Declared Value (IDV) less deductibles under the policy. Your vehicle's value is the price per a purchase invoice OR the current replacement value if the same model isn't available. You can claim the lesser of two in the event of a theft or total loss or a Constructive Total Loss (CTL) of the vehicle. This cover also includes road tax and first-time registration charges if specifically declared, and an additional premium is paid.

4.Roadside Assistance Cover

You have access to roadside assistance in case of breakdown of the insured vehicle. Upon request, with a maximum of four claims related to any one or more of the following emergency assistance services during the policy period through the authorised vendor, these are the services for roadside assistance:

S. No. Featured benefits Inclusion
1 Breakdown support over phone Yes
2 Minor repair (onsite only) Up to 50 Kms
3 Arrangement of emergency fuel (petrol only) in case the vehicle runs out of fuel (Cost of Fuel shall be paid by insured on the spot) Up to 50 Kms
4 Flat Tyre Support Up to 50 Kms
5 Assistance in case of lost keys Up to 50 Kms
6 Transfer/ Towing due to major breakdowns Up to 25 Kms
7 Alternative Transport assistance to the nearest safe location for the passengers of the vehicle (Taxi fare for the journey shall be borne by the customer and shall be payable directly to the provider on the spot) Yes

5.Engine Safe Cover

LGIs vehicle insurance for two-wheelers also extends to cover consequential damages to the Insured vehicle engine's internal child parts. These damages can arise out of water ingression/leakage of lubricating oil and damage to the gearbox. The leakage must happen only as a cause of an accident.

Under this cover, the company will compensate the insured for the following:

  • a) Repair or replace the engine's internal child parts such as pistons, connecting rods, crankshaft, and cylinder head.
  • b) Repair or replace the gear box's internal components such as gears or shafts in the gearbox housing.
  • c) Labour cost incurred by insured to overhaul the damaged engine and gearbox

Frequently Asked Questions

Q1. Is bike insurance mandatory in India?

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A. Yes. Bike insurance is mandatory in terms as per the terms of Motor Vehicles Act, 1988

Q2. Can I purchase bike insurance online?

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A. Yes, bike insurance can easily be purchased online in India.

Q3. What is bike insurance?

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A. Bike insurance is a policy that covers two-wheelers against damages and losses against accidents or theft. One can buy bike insurance online or by visiting the insurance company branch in person.

Q4. What are the different types of bike insurance?

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A. Bike insurance can be of two types in India: Liability only or third-party two-wheeler insurance - Third-party bike insurance is mandatory for every motor vehicle on Indian roads. It only covers against the loss or damage caused to a third party in case of an accident arising out of the insured vehicle's use. Liability-only bike insurance policies do not directly cover the insured vehicle or the insured party.
Comprehensive two-wheeler insurance - It is an all-inclusive bike insurance policy that provides third-party coverage and coverage to the insured party in cases of theft, damage, or loss of the motor vehicle.

Q5. Does a two-wheeler insurance policy need to be renewed online every year?

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A. Two wheeler insurance policies do not need to be renewed online every year in the case of a multi-year two-wheeler insurance policy. For a two-wheeler insurance policy where the term of insurance is one year, annual renewal is required.

Q6. Can bike insurance policy renewals be done online?

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A. Yes, bike insurance policy renewals can be done online with ease on the Liberty General Insurance website. Click here to renew your policy today!

Q7. What is multi-year coverage? Is it applicable to every two-wheeler policy?

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A. A multi-year two-wheeler insurance policy can last for up to 3 years and must be renewed only when the policy term is about to end. Customers can choose between periods of 2 or 3 years at the time of issuance of the two-wheeler insurance policy.

Q8. What are the factors that affect the issuance of a two-wheeler insurance policy?

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A two-wheeler insurance policy can be affected by:

  • Location
  • Gender and age of the driver
  • Marital status
  • Driving history
  • Previous insurance
  • Cubic capacity of the engine
  • Age of the vehicle
  • Vehicle use
  • Make, model, and the variant of your vehicle

Q9. What is zero depreciation cover in a two-wheeler insurance policy?

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A. Zero depreciation cover is also known as a bumper to bumper bike insurance policy. Zero depreciation cover does not deduct for depreciation, thus offering complete cover. It means that if your vehicle gets damaged in an accident, no depreciation is subtracted from the coverage for depreciation, and the insurance company will pay out the entire cost of the body part for replacement.

Q10. How do I buy two-wheeler insurance online?

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A. Buying two-wheeler insurance online is easy via the insurer's website. You can purchase two wheeler insurance online from Liberty General Insurance here. When you buy two wheeler insurance online, you can also enjoy various benefits, make the purchase at your convenience, and get access to your new two-wheeler policy instantly.

Q1. Is it possible to buy a multi-year two wheeler policy online?

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A. Yes, you can buy bike insurance online for a multi-year term in the same manner as a regular annual bike insurance policy.

Q2. Why should I buy two wheeler insurance online?

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A. If you want to learn about the various terms and conditions around motorbike insurance, then looking for it online is a good idea. A bike insurance policy online allows instant insurance quotes, special offers on the bike policy, effective comparison between offerings, and the opportunity to complete the entire transaction online with zero paperwork or hassle.

Q3. How do I ensure that the quote for my two-wheeler insurance policy online is the best one?

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A. Online insurance quote generators on the insurer's website allow for instant access to policy quotes, which can then be compared with others to find the perfect policy for you. Access the Liberty General Insurance quote generator here.

Q4. What are the types of bike policy offered by Liberty General Insurance?

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A. There are primarily two types of bike policy offered by Liberty General Insurance – a package policy and a third-party liability policy. You can access the various policy options available to you here. You can also avail of a selection of annual or multi-year policies and a host of add-ons based on your needs.

Q5. What kind of add-ons are available with the two-wheeler insurance policy from Liberty General Insurance?

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A. The five add-on covers to your existing or new two-wheeler insurance policy are:

  • Depreciation cover
  • Consumable cover
  • GAP value cover
  • Roadside assistance cover
  • Engine safe cover

Q6. How many network garages are currently part of the Liberty General Insurance garage network?

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A. Currently, there are over 4300+ network garages across the country that provide cashless cover in India. They can be found easily by using the Liberty General Insurance Garage locator tool.

Q7. How do I contact Liberty General insurance about motorcycle insurance claims?

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A. You can call on 1800 266 5844 or register your claim via the website here.

Q8. How many Liberty General Insurance branches are there in India, and how do I find one?

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A. There are currently 110 branches of Liberty General Insurance spread across 95 cities and 25 states around India. You can find the one closest to you easily by using our branch locator on the Liberty General Insurance website here.

Q9. What modes of payment are accepted when I buy a two-wheeler insurance policy online?

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A. When you buy a two-wheeler insurance policy online, you can use various payment options such as your credit or debit card, net banking, digital payment wallets, and even UPI.

Q10. Is personal accident cover provided when you buy a two-wheeler insurance policy online?

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A. When you buy a two-wheeler insurance policy online from Liberty General Insurance, personal accident cover is provided to the owner or rider. Pillion riders can also be covered under personal accident coverage by paying an extra premium. However, this personal accident cover is not provided in the case of their-party liability policies.


Age of the vehicle % of Depreciation for fixing IDV
Not exceeding 6 months 5%
Exceeding 6 months but not exceeding 1 year 15%
Exceeding 1 year but not exceeding 2 years 20%
Exceeding 2 years but not exceeding 3 years 30%
Exceeding 3 years but not exceeding 4 years 40%
Exceeding 4 years but not exceeding 5 years 50%

Q11. What is the claim settlement ratio when you buy a two-wheeler insurance policy online from Liberty General Insurance?

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A. The claim settlement ratio when you buy a two-wheeler insurance policy online from Liberty General Insurance is over 91%.

Q12. What is the depreciation schedule for the fixing of IDV when you buy a two-wheeler insurance policy online?

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A. The depreciation schedule when you buy a two-wheeler insurance policy online is:


Age of the vehicle % of Depreciation for fixing IDV
Not exceeding 6 months 5%
Exceeding 6 months but not exceeding 1 year 15%
Exceeding 1 year but not exceeding 2 years 20%
Exceeding 2 years but not exceeding 3 years 30%
Exceeding 3 years but not exceeding 4 years 40%
Exceeding 4 years but not exceeding 5 years 50%

Q13. How does the Roadside Assistance Cover work when you buy a bike insurance policy online?

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A.When you buy a bike insurance policy online and need assistance while on the road, you need to contact the number mentioned in your policy and log your request for it to be serviced.

Q14. What happens if I forget to renew my bike insurance policy?

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A. If you have forgotten to renew your bike insurance policy on time, you can always buy a bike insurance policy online. Inspection of the vehicle is not required, and upon successful payment when you purchase motorcycle insurance online, a policy copy is issued to you. This issuance of the policy copy also signals the start of coverage for your two-wheeler.

Q15. What happens to the no claim bonus when I buy bike insurance online after the original policy has expired?

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A. If you have a no-claim bonus eligible on your old policy but forgot to renew it on time, it may still be valid! When you buy a bike insurance policy online, the 'no claim bonus' may still be active for a period up to 90 days or as intimated by the insurer in the policy document.

Q16. How do I change the policy documents' information when I buy bike insurance online?

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A. To change the details when you buy bike insurance online, you need to raise a request here.

Q17. What happens to my two-wheeler insurance policy if I sell the vehicle to another party?

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A. There are multiple options available to you in the case of a sale of your vehicle to another party. You can choose to transfer the policy to the new owner as a part of the sales process by furnishing documents such as the sale deed, form 29, seller's NOC, and NCB recovery. The no-claim bonus can be transferred towards a new vehicle's insurance policy, should you choose to purchase one. The policy can also be cancelled at the time of sale, allowing the new vehicle owner to buy insurance later.

Q18. Can I get policy information related to motorcycle insurance and support via WhatsApp?

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A. Yes, you can get information related to motorcycle insurance directly from our support teams. To get in touch with them now, click here.

Q19. How many partner hospitals are available to me when I purchase motorcycle insurance from Liberty General Insurance?

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A. Over 5000 partner hospitals are instantly accessible when you purchase motorcycle insurance from Liberty General Insurance

Two Wheeler Insurance Glossary (A)

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  • Accident- An unlikely event which is not expected or designed, and causes damage, injury or death
  • Accident-only policies- Bike insurance policy which provides compensation only in cases arising from an accident or injury
  • Accidental Bodily Injury- Any injury to the body as an outcome of an accident
  • Accidental Death and Dismemberment: An insurance benefit or a rider which reimburses a pre-specified amount in the event of death or dismemberment caused by accident.
  • Act of God- A natural calamity such as flood, snowstorm, an earthquake or any other event caused by nature that is unpredictable and occurs without human interference.
  • Actual Cash Value – It is the market value of a vehicle that is paid by a two-wheeler insurance policy in case of total loss or damage to the vehicle.
  • Additional Insured- Is any person or party, (other than the policyholder) who is added to motorcycle insurance to be covered under that policy.

Two Wheeler Insurance Glossary (B)

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  • Beneficiary- It is the person or entity (e.g. corporation, trust, etc.) named in the policy as the recipient of insurance proceeds upon the death of the policyholder.
  • Breach of Condition- If a condition from 2 wheeler insurance contract is broken by the insured, the insurance company may cease the contract benefits from inception.

Two Wheeler Insurance Glossary (C)

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  • Cancellation- Discontinuance of a motorcycle insurance policy before its expiration date, either by the insured or the insurer
  • Claim- Request made by an insured to the insurance company for payment of the benefits as per the terms of a bike insurance policy.
  • Claim Amount- The amount which is paid by the insurance company for the accidental damages or injuries as per the terms and conditions of a bike insurance policy.
  • Clause- Special conditions in the bike insurance policy which define the scope of coverage.
  • Coverage- It includes the protection or benefits offered by a two-wheeler insurance policy. Before you buy bike insurance, it is advisable to read the policy coverage in detail.
  • Comprehensive Coverage- A comprehensive bike insurance policy pays for physical damage or loss of your car from causes like natural calamities, vandalism, fire, and theft, including third-party damage or loss.

Two Wheeler Insurance Glossary (D)

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  • Date of Commencement- The date on which two-wheeler insurance cover begins
  • Death Benefit Payable- It is the amount payable, as stated in a bike insurance policy, to the beneficiary (mentioned in the policy) upon the death of the insured.
  • Declaration- This is the section of the two-wheeler insurance policy form where the insurance-buyer has to declare that the statements or answers given are fully accurate and trues. If it were not so, there would be legal consequences.
  • Deductible- A specified amount that the insured agrees to pay for the damages arising from an accident. Generally, choosing a higher deductible will lower the premium of your motorcycle insurance.
  • Depreciation- Decrease in the market value of the vehicle due to normal wear and tear or age

Two Wheeler Insurance Glossary (E)

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  • Effective Date- The inception date upon which the bike insurance policy is put in force
  • Excess- An agreed amount up to which no claim is paid under a two-wheeler insurance plan.
  • Exclusions- These are all the perils or risks which are not covered under the terms of an insurance policy. No benefits are paid for the exclusions.

Two Wheeler Insurance Glossary (I)

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  • Inclusions- These are all the perils or risks that are covered under the terms of an insurance policy.
  • Insured: The person who is covered under an insurance policy.
  • Insurer: It is the insurance company which provides insurance cover upon payment of premiums.
  • Insured Declared Value (IDV): IDV is the current market value of a vehicle. This value agreed upon by the insurer and the insured and is paid on theft or total loss of the vehicle.
  • Insurance Policy: It is a formal contract describing the policy term, coverage, premiums and deductibles.

Two Wheeler Insurance Glossary (L)

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  • Lapse- Termination of a two-wheeler insurance contract because of non-payment of premiums.
  • Liability- Any legally imposed obligation
  • Limit- The maximum amount of protection, offered in a policy term.

Two Wheeler Insurance Glossary (N)

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  • No-Claim Bonus- It is a bonus given to policyholders on policy renewal for not claiming in the previous year. NCB is offered as a discount on the own damage premium.

Two Wheeler Insurance Glossary (O)

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  • Own Damage Premium (OD) - It pays for the expenses incurred to repair /replace parts damaged in the road accident, theft or damage of your vehicle due to fire, earthquake, etc.

Two Wheeler Insurance Glossary (P)

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  • Package Policy- A two-wheeler insurance policy which offers two or more types of insurance covers in the same policy.
  • Perils- Perils include accidental or natural occurrences, like flood, lightning, fire, etc.
  • Premium- It is the amount paid by the insured to the insurer to access insurance cover according to terms and conditions of the policy.
  • Policy Term- The period of coverage under an insurance policy
  • Personal Accident Cover: It covers the insured against accidental death and permanent total disability. Add-on personal accident cover can also be purchased to cover the pillion rider.

Two Wheeler Insurance Glossary (R)

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  • Reimbursement- It is the payment of the expenses incurred as an outcome of an accident as specified in the policy.
  • Renewal- It refers to the continuance of a two-wheeler insurance policy after the expiry of its original term for a new policy term.

Two Wheeler Insurance Glossary (S)

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  • Settlement- It is the payment of a claim as per the terms and conditions laid down in the bike insurance contract.
  • Sum Insured- The limit of liability as guaranteed by the insurer under a two-wheeler insurance policy.

Two Wheeler Insurance Glossary (T)

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  • Third-Party- In a bike insurance contract, the third party is anyone other than the insured (first party) and insurance company (second party).

Two Wheeler Insurance Glossary (Z)

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  • Zero Depreciation Cover- Zero depreciation cover is an add-on cover to an existing bike insurance policy. It provides complete coverage without deducting for depreciation.

Why Two Wheeler Insurance

Listen to Our Customers

Thanks Manish

Dear Mr. Dharma – I would like to thank your company personnel at the customer services division for their excellent support. Your customer care executive, Manish Bhatia took care of all my queries in a very courteous and professional manner.

Would also like to thank Mr. R Rajkiran from ‘Invee Intelligence Private Limited’ and Mr. Umesh for taking this issue to closure.

Keep up the good work.

Majid Hashmat

Thanks Manish

Dear Mr. Dharma – I would like to thank your company personnel at the customer services division for their excellent support. Your customer care executive, Manish Bhatia took care of all my queries in a very courteous and professional manner.

Would also like to thank Mr. R Rajkiran from ‘Invee Intelligence Private Limited’ and Mr. Umesh for taking this issue to closure.

Keep up the good work.

Majid Hashmat

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Motor insurance covers several type of vehicle including two, three, and four wheelers. Typical Motor Insurance Policies consists ...

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Registration Number: 150 | ARN:Advt/2018/March/26 | CIN: U66000MH2010PLC209656

2019 Liberty General Insurance Ltd.

Reg Office: 10th floor, Tower A, Peninsula Business Park, Ganpat Rao Kadam Marg, Lower Parel, Mumbai - 400013

Trade Logo displayed above belongs to Liberty Mutual and used by the Liberty General Insurance Limited under license. For more details on risk factors, terms & conditions please read sales brochure carefully before concluding a sale.