Two wheeler Package policy

This Policy provides coverage to the two-wheeler for both, own-damage (OD) as well as third-party liability. It provides financial protection against losses caused by accidents, thefts and natural disasters.

Scope of Cover

Own Damage Cover (OD)

1. Accidental Loss of or damage to the Vehicle
2. Burglary, House Breaking or Theft.
3. Fire, Explosion, Self-Ignition & Lightening.
4. Earthquake, Flood, Storm, Landslide or Rockslide, Inundation, Terrorism, Riots, Strikes, Malicious Acts
5. Transit by Road, Rail, inland waterways, air or lift.

Third-Party liability

It covers the legal liability required by law (third Party Losses) i.e. Accidents resulting in injury and death of any third party & or property damage.

Personal Accident Cover to Owner cum Driver

This cover is to be taken mandatorily by all individual vehicle owners. It Provides PA Cover whilst driving the vehicle including mounting into/ dismounting from or traveling in the insured vehicle as a co–driver
Coverage in case of Death & PTD : Rs 15,00,000 & in case of Loss of sight of 1 eye or 1 Limb- 50% total Sum assured I.e. Rs 750000.
With effect from 1st Jan 2019, the Insured will not have to purchase separate compulsory personal accident (CPA) cover for every new vehicle they purchase. He can buy one separate policy of Rs. 15 lakhs from any Insurer which will be valid for all vehicles owned by him.
Personal Accident cover can be given to passengers of the vehicle on a named or unnamed basis.

Sum Insured/IDV

The Sum Insured will be Insured Declared value of the Vehicle (IDV). IDV for vehicle less than five years old is the Manufacturers listed selling Price which is adjusted for Deprecation based on age of Vehicle. For vehicles beyond five years of age and obsolete vehicles, the IDV is mutually agreed value.

Premium calculation is based on the following factors:
1. IDV of the vehicle
2. Cubic Capacity of the vehicle
3. Zone of Registration
4. Age of Vehicle.
Insurers allow Discount on Own damage Premium depending on their Incurred Claims ratio which vary from Insurer to Insurer and also type of vehicle.

Add on covers

Roadside assistance
Return to invoice
Cover for pillion rider
Nil depreciation

No Claim Bonus

Is allowed if no claim is preferred in the expiring Policy. (From 20% during second year & 50% in the sixth year)
NCB becomes nil in case the policy holder files a claim.
NCB can be transferred to the new vehicle in case of substitution of vehicle of the same class.
Validity of NCB is 90 days from the date of expiry of the policy.
NCB can be utilized within 3 years (where the existing vehicle is sold and a new vehicle is purchased).
NCB recovery can be done in case of a name transfer on the RC of the vehicle.


Damage by a person driving without a valid driving license
Mechanical or Electrical breakdown.
Damage by a person driving under the influence of liquor/ Alcohol/ Drugs.
Depreciation, any consequential loss
War & allied Perils
Damage to tyres /tubes, unless damage to the vehicle in the accident with liability maximum fifty percent of value.
Two Wheeler being used for Hire or Reward, speed testing, or Racing, Reliability Trials.
Loss of or Damage to accessories by Burglary, Housebreaking or theft unless the Vehicle is stolen at the same time.