How many types of two-wheeler insurance are there, know all the important things related to them

Vehicle insurance is essential. Accidents are very common on the roads and many a times due to this there is an economic burden. Insurance helps a lot in protecting against this.

It is mandatory to have two-wheeler insurance in India . This not only provides safety to you and your vehicle but also provides financial security to other road users. Every year a large number of accidents take place in the country. In which vehicles to people have to suffer a lot. Due to any such accident, the financial burden on the people increases a lot. Two-wheeler insurance helps a lot in such a situation for people driving a bike or scooter and also compensates for the loss caused to a third person in an accident . Today we tell you how many types of two-wheeler insurance exist and what are their benefits so that you can make the right decision.

What are the different types of two wheeler insurance?
According to SBI General Insurance, there are generally 3 types of insurance available for two-wheelers, which include third-party liability-only cover, standalone own damage cover and comprehensive two-wheeler insurance. Comprehensive two-wheeler insurance is included. Along with this, add-ons are also available with two-wheeler insurance which includes roadside assistance, zero depreciation etc. All these insurances have their own specialty and accordingly their premiums are also payable.

Third Party Liability-only cover
According to the rules, it is necessary to have a cover to compensate for the loss caused to a third person in an accident with the vehicle. That is, provisions have been made for the protection of the third party. In this type of insurance, if there is damage to any vehicle or any person in an accident with the insured bike, then their loss will be compensated. In this policy, only the loss of the third party will be compensated. Damage to the insured bike will not be compensated. And the owner of the vehicle will have to bear this loss.

Standalone Own Damage Cover
This type of insurance covers all damages caused to the insured bike. In this policy, natural calamities like earthquake, flood etc. are covered, while theft etc. is also protected. However, it does not include third party cover. Since third party insurance is mandatory, you can buy third party cover separately along with this insurance.

Comprehensive Two Wheeler Insurance
Under its policy, you get the benefits of both the above mentioned policies. On buying this policy, the insured bike has cover for wear and tear, as well as third party cover is also available in it. This policy provides protection against accidents as well as natural calamities and theft etc. Add-on covers are also available with it which includes engine protection, road side assistance etc. Due to having more features, it becomes expensive. However, with its help, you can go on a drive completely worry-free.

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