3 Major Types of Two-Wheeler Insurance Policies


If you own a two-wheeler, it is mandatory to have a two-wheeler insurance policy for 5 years. There are three major types of two-wheeler insurance and each bike insurance policy is different from another. To help you with the tricky part of choosing the best one, here are some benefits each offer

1. Third party bike insurance

This basic and cheapest who-wheeler insurance offers cover for the third party involved in the accident. It covers all the financial liability for the damage caused to a person or vehicle. However, it does not cover you (i.e., the insurer) nor your vehicle.

2. Direct compensation-property damage policy

This bike insurance policy only covers vehicles. However, it covers loss/ damage to the third party and theft of your bike. Basically, it covers injury/ damage to third party/ property caused by your vehicle. Your vehicle will be covered in case it gets damaged due to natural calamities. In personal accident cover, anyone injured due to an accident involving your bike can claim ₹15 lakh from the insurance company.

3. Comprehensive insurance

It offers complete coverage to you, the vehicle, the rider, and pillion. This covers you from the following:


  • Legal and financial liabilities towards a third party.
  • Any loss/ damage to your vehicle from accidents/ sabotages/ theft/ natural calamities.
  • Your hospitalization expense.
You can also avail several add-on covers in this type of insurance policy.

Make sure to choose only reputable insurance providers such a Bajaj Finserv; which offer full coverage with additional covers, and make claims and renewal easier.

Additional Topic: 3 Major Types Of Bike Insurance Plans You Must Know