3 things every first-time buyer must know about bike insurance
                     3 things every first-time buyer must know about bike insurance 
 
You need to make an informed choice when it comes to buying a bike insurance policy. Not only 
is it mandatory as per law in India but also offers financial assistance at times of road accidents.  
 
Now, whether you use an agent or buy two-wheeler insurance online, everyone needs a little 
hand-holding, especially when making an important investment. With the internet, it is now 
simple to compare different policies and rates, but it is still easy to get confused by unfamiliar 
terms used by insurance companies. To help you, here are 3 things that you must know before 
you buy a two wheeler insurance  policy. 
 
  
 
 
1. Types of bike insurance policies 
 
There are 2 major types of motor insurance policies available in India namely third-party 
insurance and comprehensive insurance. Third-party insurance is a standard insurance policy 
that offers compensation to the insured in case damages are caused to a third-party or property.  
 
In the case of a comprehensive insurance policy, the insured gets compensated for third-party as 
well as personal damages that are caused due to an accident. A comprehensive policy allows the 
insured to tweak their policy with the help of add-ons that offer additional coverage to the 
insured.  The comprehensive insurance also offers coverage during events like road accidents, 
natural disasters like earthquakes, volcanoes, floods, storms, etc., fire, theft, and so on. 
 
Remember, comprehensive insurance coverage is optional insurance that secures your vehicle. 
Third-party or liability insurance is legally required as it covers the expenses associated with 
damage, injury, and death caused to a third-party or property.  
 
 
 
 
 
 
  
2. Premium determination 
 
If you go for a third-party bike insurance  policy, the premium of the policy is standardized 
throughout the insurance market. The value is determined based on the cubic capacity of your 
vehicle. However, if you opt for a comprehensive cover, each insurance company has its formula 
for calculating the premium, which is generally based on the make, model, variant, registration 
date, city of registration, cubic-capacity, and so on of your vehicle.  
 
3. Your insurance policy will compensate even if someone else was driving 
 
Motor insurance policy insures the vehicle and not the owner. If you lend your car to someone 
else, that means that you are loaning them your car along with its insurance policy in most 
cases. So, if someone else is driving your vehicle and meets with an accident, then the insurance 
company is liable to compensate for the damages caused. However, the person driving your 
vehicle must fit in the following criteria -  
 
1. The driver should have a valid driving license.  
2. The driver should not be under the influence of alcohol or drugs at the time of the 
accident. 
 
Finally, if you want the best price, you need to shop around for options. Every insurance 
provider offers different types of policies and coverage which results in different prices. You can 
also take the help of an aggregator website to find the right two wheeler insurance policy suited 
to you.  
 
Hope this article has been informative to you. All the best!