Answered: 5 frequently asked questions about two wheeler insurance.


Two wheeler insurance can be quite difficult to understand for the first time buyer. Several questions are bound to cloud their minds when attempting to purchase a plan for their vehicle. These doubts can end-up confusing novice buyers and even cause them to settle for plans that don’t exactly match their needs. To ensure this doesn’t happen to you, the following article will answer some of the most common questions that perplex two wheeler insurance customers.

  1. Should I buy third party cover or a comprehensive insurance policy?

This is one of the most common questions first-time insurance buyers have. They aren’t sure whether to opt for the affordable third party cover or to opt for the higher protection levels of a comprehensive insurance policy. However, choosing between the two ultimately depends on your needs. If you need an affordable option then third party cover is for you. However, if you can afford to spend a little more, it is advisable that you choose a comprehensive plan instead. This will provide you cover for damages occurring to your bike in an accident, something third party insurance does not provide.

  1. Should I buy two-wheeler insurance online, is it safe, are these plans inferior?

First-time buyers have a lot of doubts regarding online two wheeler insurance. They find the premiums much lower than offline plans and wonder if the cover is inferior and whether or not it is safe to purchase such plans. If you too have such reservations regarding online insurance plans, we suggest you stop second-guessing and just purchase the plan. Online plans are very beneficial – they help you save time, money and energy whilst providing exactly the same cover as their offline counterparts.

  1. What is IDV?

IDV is a very important term in two wheeler insurance, but for first-time buyers, it’s just another insurance jargon that adds to the confusion whilst buying insurance. In actuality, it’s a very simple concept – IDV stands for ‘Insurer Declared Value’ and is the current value of your vehicle. It is also the maximum amount of compensation your insurance company will provide you in case of a total loss or theft of your vehicle. When you buy an insurance policy for your two-wheeler, you have to declare the IDV of your bike; you can state a lower IDV if you want to lower your premium but remember that in case of a total loss you will be provided a lower compensation.

  1. What is NCB and how does it benefit me?

NCB, short for No Claim Bonus, is one of the best features of a car insurance policy. To put it as simply as possible, NCB is a discount your insurance provider levies on your renewal premium for not making a claim in the previous year. The extent of this discount keeps increasing for every year you go without making a claim until it reaches a maximum of 50%.

  1. Which is the best two wheeler insurance company?

Ending with one of the most commonly asked questions about two-wheeler plans. Every buyer wants to know which plan is the best. Sure you can compare factors such as the premium amount, the level of cover, reviews, claim settlement ratio, etc. but ultimately, the best plan is the one that matches your needs perfectly. You will need to compare plans thoroughly to find the one that’s best suited for you.

We hope the above information has helped you answer your doubts. If you are still confused with any aspect of a two wheeler insurance policy, it is best you speak to an insurance provider and get your queries answered before buying a policy. Good luck and all the best, ride safe!

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