Two-wheeler insurance offers coverage against any damage caused to a two-wheeler and/or its riders arising due to unforeseen events such as road accidents, theft, natural disasters. It also provides protection against third-party liabilities that may arise due to bodily injuries/damages caused to a third-party individual/property. Two-wheeler insurance is the perfect solution to efficiently meet inflated repair costs that arise from damages caused to insured two-wheeler vehicles. Bike Insurance policy provides protection to all types of two wheelers including motorcycles, mopeds, and scooters, used for both personal and commercial use.
Here's a look at the wide range of benefits you stand to gain when you choose Chola MS for your two-wheeler insurance:
Chola MS bike insurance covers the vehicle you own if it is lost or damaged by Natural Perils like floods, cyclones and earthquakes or Social Perils like riots, strikes, burglary, theft and terrorism or Accidental Damage.
Our two wheeler insurance provides compensation if your vehicle accidentally injures any person including occupants carried in the vehicle, resulting in death or disablement of such persons for which you become legally liable to pay.
This section of Chola MS two wheeler insurance provides compensation upto Rs. 1 lakh if your vehicle accidentally damages the property of TP for which you become legally liable to pay.
Chola MS bike insurance provides financial support of Rs. 15 lakhs to the insured or his/her family members in the unfortunate event of accidental death/disability of the insured (registered vehicle owner holding effective driving license)
You can choose from three types of two-wheeler insurance based on your expectations
This policy is known as an ‘Act Only Policy’, and is mandatory in India by law. It covers you against property damage, loss, death or bodily injury to a third party due to an accident caused by the insured two-wheeler and provides personal accident cover for the two-wheeler owner as well.
Know MoreAlso known as ‘Package Policy’, this policy covers everything included in a Liability Only Policy and provides additional cover for damage or theft of the two-wheeler. This policy is optional.
Know MoreThis policy provides cover against damages/losses caused to a two-wheeler due to: Natural calamities like fire, flood, lightning, earthquakes, etc. Burglary, theft, riot, strike, malicious acts, terrorist activity Accident by external sources Damage during travel by road, rail, air, and water
Know MoreOwning a bike insurance policy is a prudent way of providing for expenses you are likely to incur in case of damage to your bike or damage caused to a third party or property. Renew your two- wheeler insurance online and receive the following benefits:
Add-on covers of Two Wheeler Insurance Policy
Our bike insurance claim process is simple!
Get cashless services with Chola MS Bike Insurance at our cashless network garages. Be it long journeys or tough roads, you can be assured of our assistance!
Know MoreAll you need to know about two-wheeler Insurance at Chola MS
Insuring your two wheeler protects you from a financial loss arising out of loss or damage to your vehicle, your liability towards third parties for personal injury, death and property damage on account of any accident involving your vehicle. Furthermore, you are also responsible for the safety of yourself.
Under the provisions of Motor Vehicles Act, all vehicles that ply in public places must have an insurance policy that covers at least ‘Third Party Liability’ as specified under the act.
You can either opt for a Third Party Cover or a Comprehensive Policy. In India, it is compulsory to have a Third Party Policy that covers you against legal liability for injury or death or property damage caused to any third party in an accident. This policy does not cover damages or loss caused to your own vehicle in an accident or theft.
A comprehensive policy, on the other hand, covers both ‘Third Party liability (Act Only Cover)’ and ‘Own Damage Cover’ which insures your vehicle against any loss or damage. It is not compulsory to have a comprehensive cover, though it is advisable to have one.
Chola MS bike insurance does not cover the following:
For all new two wheelers, the IRDAI has mandated compulsory five years Third Party Cover Bike Insurance Cover. The insured can choose the OD Section for one or five years.
For two wheelers other than new ones, Annual Comprehensive / Package policy or tandalone Liability Policy is available for a period of one year.
The Two wheeler insurance Policy has to be renewed by the insured every year.
IDV is Insured Declared Value. This is the maximum amount upto which the insured can claim in any given period two wheeler insurance policy duration.
A fixed discount percentage is applicable on the premium for nil claims in any given period of the bike insurance. The discount is applicable on Own Damage section of the two wheeler insurance policy.
A specified amount of Rs.100, which the insured is required to bear for each bike insurance claim.
These are enhanced benefits under the two wheeler insurance Policy on payment of additional premium. These covers are purely optional. We are listing below some of the Add-on covers available and its outline of coverage:
| Bike Insurance Add-on cover | Outline of Two-wheeler insurance benefits |
|---|---|
| Full Depreciation Waiver Cover | This bike insurance add-on covers replacement of parts will be paid in full for partial Loss Claims |
| Hydrostatic Lock Cover | This two-wheeler insurance add-on covers repair of Replacement of Engine parts, Spare Parts, Differential assembly parts due to leakage of lubrication |
| Return to Invoice Cover | Show Room Value of Brand New Vehicle + Registration Fee + Road Tax + Insurance premium Payable |
| Monthly Installment Cover | Insured is covered for non-payment of regular Monthly Installment (MI) to the financier of the vehicle |
| Chola Value Added Services - Two Wheeler Package Policy | This bike insurance add-on covers Roadside Assistance Services provided at the time of Accident / Breakdown of the vehicle on Road |
The above mentioned features of bike insurance policy Add-on covers are only indicative . Please refer to the wording of the Chola MS two wheeler policy Add-on covers in our website for more details.
Contact our Toll Free Helpline 1800-208-5544 to register your bike insurance claim and get a claim number/ reference number. You can also directly register your two wheeler insurance claim online.