Third party cover is mandatory by law for every two-wheeler plying on road. Third party Two-wheeler motor insurance policy compensates you for the loss against physical damage, theft and third party liability.
Premium for two-wheeler motor insurance policy is ascertained by taking into account Insured Declared Value of the vehicle, manufacturer, cubic capacity, zone of registration, age of the vehicle and taxes.
If you have not made a claim, then you can enjoy No-Claim Bonus in the form of discount on the premium at the time of renewal. This policy not only saves your money in cases of extensive repairs or loss of vehicle.
Two-wheeler insurance policy is valid for one year and needs to be renewed annually. But now insurers have started offering two-wheeler insurance policies with longer tenure of two or three years.