Two Wheeler Insurance

Two Wheeler Insurance

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Sensible, economic, exciting - how about safe?

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Two wheeler insurance by Liberty General Insurance (LGI) is the most cost-effective and stress-free way to secure your vehicle against damage or loss. LGI’s comprehensive bike insurance plan covers both ‘liability’ as well as ‘own damage’ and offers all-inclusive two-wheeler insurance coverage which secures you and your two-wheeler against any injury and damage/loss as well as against third party liability.

Our Two Wheeler Insurance Policies

Annual Policy

​Two-wheeler insurance comes at a nominal cost, but not having one can be costly! Two-wheeler insurance policy covers you against accidental damage to your two-wheeler, bodily injury, and damage to a third-party or property. Secure your two-wheeler an​d yourself against any emergency, and ride worry-fre​e!

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Multiyear Policy

Just like filling up your two-wheeler’s fuel tank lets you enjoy a hassle-free long ride, the same can apply to your two-wheeler insurance as well. Just pay the insurance premium once, and enjoy insurance cover for 2 or 3 years as per your need. With Liberty multiyear two-wheeler insurance, free yourself from the duty of annual insurance renewals!

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Is Two Wheeler Insurance mandatory?

By definition, third party two wheeler insurance policy is a statutory requirement as per the Motor Vehicles Act, 1988, and driving without a third party insurance policy for bike in a public place is an offence punishable by law. If your time is at a premium, you can always go for buying bike insurance online in India.

But, there’s more to two-wheeler insurance than just third party liability. Accidental repairs are a part and parcel of owning a two-wheeler, but it also means high expenses. That is why comprehensive two-wheeler insurance is much more advisable; it provides cover for third party liability as well as damage to own vehicle along with personal accident cover. So, always prefer a comprehensive plan when searching for two wheeler online insurance.

Liberty General Insurance- Two Wheeler Package Policy

(The term two wheeler referred to in this Policy will include motor cycle/scooter/auto cycle or any other motorized two wheeled vehicle mentioned in the Schedule.) Now This Policy Witnesseth: That subject to the Terms Exceptions and Conditions contained herein or endorsed or otherwise expressed hereon.

Section I - Loss of or Damage to the Vehicle Insured

The Company will indemnify the insured against loss or damage to the vehicle insured hereunder and/or its accessories whilst thereon

  • i. by fire explosion self-ignition or lightning;
  • ii. by burglary housebreaking or theft;
  • iii. by riot and strike;
  • iv. By earthquake (fire and shock damage);
  • V. by flood typhoon hurricane storm tempest inundation cyclone hailstorm frost;
  • Vi. by accidental external means;
  • Vii. by malicious act;
  • Viii. by terrorist activity;
  • ix. Whilst in transit by road rail inland- waterway lift elevator or air;
  • X. by landslide rockslide

Section II - Liability to Third Parties

Subject to the limits of liability as laid down in the Schedule hereto the Company will indemnify the insured in the event of an accident caused by or arising out of the use of the insured vehicle against all sums which the insured shall become legally liable to pay in respect of-

  • i) Death of or bodily injury to any person including occupants carried in the insured vehicle (provided such occupants are not carried for hire or reward) but except so far as it is necessary to meet the requirements of Motor Vehicles Act, the Company shall not be liable where such death or injury arises out of and in the course of the employment of such person by the insured,
  • ii) Damage to property other than property belonging to the insured or held in trust or in the custody or control of the insured. PROVIDED ALWAYS that the Company shall not be liable in respect of death injury or damage caused or arising beyond the limits of any carriageway or thoroughfare in connection with the bringing of the load to the vehicle for loading thereon or the taking away of the load from the vehicle after unloading there from.

Section II - Liability to Third Parties

Subject to the limits of liability as laid down in the Schedule hereto the Company will indemnify the insured in the event of an accident caused by or arising out of the use of the insured vehicle against all sums which the insured shall become legally liable to pay in respect of-

  • i) Death of or bodily injury to any person including occupants carried in the insured vehicle (provided such occupants are not carried for hire or reward) but except so far as it is necessary to meet the requirements of Motor Vehicles Act, the Company shall not be liable where such death or injury arises out of and in the course of the employment of such person by the insured,
  • ii) Damage to property other than property belonging to the insured or held in trust or in the custody or control of the insured. PROVIDED ALWAYS that the Company shall not be liable in respect of death injury or damage caused or arising beyond the limits of any carriageway or thoroughfare in connection with the bringing of the load to the vehicle for loading thereon or the taking away of the load from the vehicle after unloading there from.

Section III - Personal Accident Cover for Owner-Driver

Subject otherwise to the terms exceptions conditions and limitations of this Policy, the Company undertakes to pay compensation as per the following scale for bodily injury/ death sustained by the owner-driver of the vehicle indirect connection with the vehicle insured whilst mounting into/dismounting from or travelling in the insured vehicle as a co-driver, caused by violent accidental external and visible means which independent of any other cause shall within six calendar months of such injury result in:

Nature of Injury Scale of Compensation
i) Death 100%
ii) Loss of two limbs or sight of two eyes or one limb and sight of one eye 100%
iii) Loss of one limb or sight of one eye 50%
iv) Permanent total disablement from injuries other than named above. 100%

Company will not be liable to indemnify insured for the following:

If no claim is made or pending during the preceding year (s) of your 2 wheeler Insurance, you are eligible for a No Claim Bonus –

  • 1. Where a loss is covered under any other type of insurance policy with any other insurer or manufacturer's warranty or recall campaign or under any other such packages at the same time.
  • 2. Any consequential loss apart from the damage to the internal child parts of the engine due to water ingression/leakage of lubricating oil and/or damage to gear box arising out of leakage of lubricating oil due to Accidental means.
  • 3. Cost of engine oil and consumables in case of flushing of engine.
  • 4. Loss or Damage including corrosion of engine due to delay in intimating company or delay in retrieval of the Insured Vehicle from the water logged area.
  • 5. Where reasonable care has not been taken by insured to protect the loss or damage to the Insured Vehicle.

1.Depreciation Cover

In consideration of the payment of extra premium paid by the insured as mentioned in the policy schedule it is hereby understood and agreed subject to the terms, conditions exclusions and limitations that the Company shall bear the Depreciation amount deducted on the value of the parts replaced as a result of admissible claim under Own Damage Section.

2.Consumables Cover

In consideration of the payment of extra premium paid by the insured as mentioned in the policy schedule it is hereby understood and agreed subject to the terms, conditions exclusions and limitations that the Company agrees to cover expenses incurred towards “those items or substances of specific use which at the time of loss are either totally consumed or deemed unfit for further use in the vehicle” arising out of damage to the vehicle insured and/or to its accessories caused by insured peril under the basic Two Wheeler Package Policy.

Consumables shall mean those items or substances which have specific use and when applied to their respective uses are deemed to be consumed completely and/or are deemed to be unfit for future use. These items include grease, lubricants clip, air conditioner’s gas, bearings, engine oil, oil filter, fuel filter, break oil, nut and bolt, screw, washers and the like

3. Gap Value Cover

In consideration of the payment of extra premium paid by the insured as mentioned in the Policy Schedule it is hereby understood and agreed subject to the terms, conditions exclusions and limitations that the Company shall pay the “difference amount” between the amount received under Own Damage (OD) Section i.e. Insured Declared Value (IDV) less deductibles under the policy AND price as per purchase invoice OR the current Replacement Value of vehicle if the same make model is available, whichever is less in the event of a Total Theft or Total Loss/ Constructive Total Loss (CTL) of the vehicle. It also covers the Road Tax and first time registration charges if specifically declared and additional premium is paid.

Maximum liability to the company is limited to the sum insured mentioned in the policy schedule.

4. Roadside Assistance Cover

In consideration of the payment of extra premium paid by the insured as mentioned in the policy schedule it is hereby understood and agreed subject to the terms, conditions exclusions and limitations that the company shall provide “Roadside Assistance” in case of breakdown of the insured vehicle upon his request, with a maximum of four claims related to any one or more of the following emergency assistance services during the Policy Period through the authorized vendor. The services provided under the Roadside Assistance are as under-

S. No. Featured benefits Inclusion
1 Breakdown support over phone Yes
2 Minor repair (onsite only) Up to 50 Kms
3 Arrangement of emergency fuel (petrol only) in case the vehicle runs out of fuel (Cost of Fuel shall be paid by insured on the spot) Up to 50 Kms
4 Flat Tyre Support Up to 50 Kms
5 Assistance in case of lost keys Up to 50 Kms
6 Transfer/ Towing due to major breakdowns Up to 25 Kms
7 Alternative Transport assistance to the nearest safe location for the passengers of the vehicle (Taxi fare for the journey shall be borne by customer and shall be payable directly to the provider on spot) Yes

5. Engine Safe Cover

In consideration of payment of additional premium, it is hereby agreed and declared that this vehicle insurance for two wheeler shall extend to cover the consequential damage to the internal child parts of the engine of the Insured Vehicle arising out of water ingression/leakage of lubricating oil and/or damage to gear box of the Insured Vehicle arising out of leakage of lubricating oil due to Accidental means.

Under this cover, the company will compensate insured for the following:

  • a) Repair or replacement of the internal child parts of the engine such as pistons, connecting rods, crank shaft and cylinder head.
  • b) Repair or replacement of the internal parts of the gear box such as gears or shafts in the gear box housing.
  • c) Labour cost incurred by insured to overhaul the damaged engine and gear box

Frequently Asked Questions

Q1. Is two wheeler insurance mandatory in India? Can I purchase it online?

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A. Yes. Two-wheeler is mandatory in terms as per the terms of Motor Vehicles Act, 1988. You can purchase two wheeler insurance online in India.

Q2. What is two wheeler insurance?

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A. It is an insurance policy that covers two wheelers against damage or loss as an outcome of an accident or theft. One can buy online bike insurance or by visiting the insurance company branch.

Q3. What are the different types of two wheeler insurance?

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A. Two wheeler insurance coverage is of two types

  • Liability only or third-party two wheeler insurance Third-party insurance is the most basic insurance that is mandatory for every motor vehicle on road. It only covers the loss or damage caused to a third party in case of an accident arising out of the use of the insured vehicle. Liability only bike insurance policy does not offer any coverage to the insured vehicle or to the insured.
  • Comprehensive two wheeler insurance It is an all-inclusive bike insurance policy which provides complete coverage. It includes coverage for loss or damage to insured as well as to the third-party, in case of theft or an accident.

Q4. Is it required to renew two wheeler insurance every year? Do we have online insurance for two-wheeler to be able to do that?

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A. Yes, you will have to renew bike insurance every year. Alternatively, you can purchase multi-year two wheeler insurance which offers long term coverage. And yes, you do have online insurance for two-wheelers at Liberty General Insurance which you can conveniently renew on our website.

Q5. What is multi-year two wheeler insurance?

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A. Multi-year two wheeler insurance is same as standard bike insurance policy, but it offers coverage up to 3 years. So, you have the option to choose between 2 or 3 years of coverage tenure.

Q6. What are the factors that affect two wheeler insurance policy premiums?

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A. Common factors that determine the premiums of two wheeler insurance are as follows-

  • Driving history
  • Location
  • Gender and age of driver
  • Marital status
  • Previous insurance
  • Cubic capacity of engine
  • Age of the vehicle
  • Vehicle use
  • Make, model and variant of your vehicle

Q7. What is zero depreciation cover in bike insurance policy?

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A. Zero depreciation cover is also known as bumper to bumper bike insurance policy. Zero depreciation cover does not deduct for depreciation, thus offering complete cover. It means that if your vehicle gets damaged in an accident, no depreciation is subtracted from the coverage for depreciation and the insurance company will pay out the entire cost of the body part for replacement. This stays standard regardless of whether the bike insurance is in Delhi, Mumbai, Bangalore or someplace else.

Q8. How can I buy two wheeler insurance online?

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A. You can buy two wheeler insurance online through insurer website. Online two wheeler insurance policies are better as you can buy them at your own convenience, get an instant policy, and also enjoy various benefits.

Q9. Can I buy multi-year two-wheeler insurance online?

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A. Yes, you can buy multi-year two-wheeler insurance online. Multi-year policies can be purchased in the same way as online bike insurance policies.

Q10. How to buy the best two wheeler insurance in India?

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A. The easiest way to get hands on the best two wheeler insurance in India is to buy 2 wheeler insurance online. When you buy vehicle insurance online, you can read about the different policies on offer, get instant insurance quotes, and compare the different policies for two wheeler insurance online. Buying a two wheeler policy online ensures that you make an informed decision.

Q11. How to get online bike insurance quotes?

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A. To get online insurance quotes for two-wheeler you can visit the insurer website and use the instant quote generator. Getting quotes online for two wheeler insurance is simple; you just need to fill in the required fields, such as vehicle model, registration number, etc. Compare two wheeler insurance quotes online, before making a purchase to get the best deal on premium.

Q1. What are the types of two wheeler insurance policies offered by LGI?

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A. LGI offers two types of two wheeler insurance - Package Policy and Third Party Liability Policy. You can buy online bike insurance policies through LGI website. Plus, we also offer annual and multi-year bike insurance policies.

Q2. Can I buy multi-year bike insurance online on LGI?

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A. Yes, you can buy online 2 wheeler insurance, both annual and multi-year, through LGI website.

Q3. What are the add-ons available with LGI Two Wheeler Package Policy?

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A. LGI Private Car Package Policy is among the best two wheeler insurance in India, and it allows you to extend your insurance coverage through 5 add-on covers, which are-

  • 1. Depreciation Cover
  • 2. Consumable
  • 3. GAP value cover
  • 4. Roadside Assistance cover
  • 5. Engine safe cover

Q4. How many network garages are under LGI network? How do I find a LGI network garage near me?

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A. With LGI two wheeler insurance, you can avail cashless claim service at 2500+ network garages. To locate a network garage, you can use the ‘garage locator’ tool on our website.

Q5. How do I register a two wheeler insurance claim with LGI?

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A. You can register your claim in the following ways-

  • Call us at 1800 266 5844
  • Register bike insurance claim online on LGI website

Q6. How many LGI branches are there across India and how can I locate one?

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A. There are 60 LGI offices in 58 cities across 23 states across India. You can locate a branch in India online for buying bike insurance by using the branch locator tool on LGI website.

Q7. How can I pay when I buy bike insurance online?

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A. We offer various payment options to buy motor cycle insurance online. You can use credit card, net banking, debit card, etc., to buy two wheeler insurance online through LGI website.

Q8. Is there personal accident cover in LGI two wheeler insurance policy?

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A. Yes. LGI Two Wheeler Package Policy offers personal accident cover to owner/driver. However, you can also purchase add-on personal accident cover for pillion rider by paying extra premium.

Q9. What is the claim settlement ratio for LGI two-wheeler policy?

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A. LGI two-wheeler package policy is one of the best two wheeler insurance policies with a high claim settlement ratio of over 95%.

Q10. What is the schedule of depreciation for fixing IDV of vehicle?

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A. The depreciation schedule is as follows-


Age of the vehicle % of Depreciation for fixing IDV
Not exceeding 6 months 5%
Exceeding 6 months but not exceeding 1 year 15%
Exceeding 1 year but not exceeding 2 years 20%
Exceeding 2 years but not exceeding 3 years 30%
Exceeding 3 years but not exceeding 4 years 40%
Exceeding 4 years but not exceeding 5 years 50%

Two Wheeler Insurance Glossary (A)

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  • Accident- An unlikely event which is not expected or designed, and causes damage, injury or death
  • Accident-only policies- Bike insurance policy which provides compensation only in cases arising from an accident or injury
  • Accidental Bodily Injury- Any injury to the body as an outcome of an accident
  • Accidental Death and Dismemberment: An insurance benefit or a rider which reimburses a pre-specified amount in the event of death and/or dismemberment caused by accident.
  • Act of God- A natural calamity such as flood, snowstorm, an earthquake or any other event caused by nature that is unpredictable and occurs without human interference.
  • Actual Cash Value – The market value of a vehicle that is paid by a two wheeler insurance policy in case of total loss or damage to vehicle.
  • Additional Insured- Any person or party, other than the policyholder, who is added to a motorcycle insurance to be covered by that policy

Two Wheeler Insurance Glossary (B)

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  • Beneficiary- The person or entity (e.g. corporation, trust, etc.) named in the policy as the recipient of insurance proceeds upon the death of the policy holder.
  • Breach of Condition- If a condition from 2 wheeler insurance contract is broken by the insured, the insurance company may cease the contract benefits from inception.

Two Wheeler Insurance Glossary (C)

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  • Cancellation- Discontinuance of a motor cycle insurance policy before its expiration date, either by the insured or the insurer
  • Claim- Request made by an insured to the insurance company for payment of the benefits as per the terms of bike insurance policy.
  • Claim Amount- The amount which is paid by the insurance company for the accidental damages or injuries as per the terms and conditions of a bike insurance policy.
  • Clause- Special conditions in the bike insurance policy which define the scope of coverage.
  • Coverage- It includes the protection or benefits offered by a two wheeler insurance policy. Before, you buy bike insurance, it is advisable to read the policy coverage in detail.
  • Comprehensive Coverage- A comprehensive bike insurance policy pays for physical damage or loss of your car from causes like natural calamities, vandalism, fire, and theft, including third-party damage or loss.

Two Wheeler Insurance Glossary (D)

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  • Date of Commencement- The date on which two wheeler insurance cover begins
  • Death Benefit Payable- The amount payable, as stated in a bike insurance policy, to the beneficiary (mentioned in the policy) upon the death of the insured.
  • Declaration- This is the section of the two wheeler insurance policy form where the insurance-buyer has to declare that the statements or answers given are fully accurate and trues, and if it were not so, there would be legal consequences.
  • Deductible- A specified amount that the insured agrees to pay for the damages arising from an accident. Generally, choosing a higher deductible will lower the premium of your motorcycle insurance.
  • Depreciation- Decrease in the market value of vehicle due to normal wear and tear or age

Two Wheeler Insurance Glossary (E)

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  • Effective Date- The inception date upon which the bike insurance policy is put in force
  • Excess- An agreed amount up to which no claim is paid under a two wheeler insurance plan.
  • Exclusion- All perils or risks which are not covered under the terms of an insurance policy. No benefits are paid for the exclusions.

Two Wheeler Insurance Glossary (I)

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  • Inclusion- All perils or risks that are covered under the terms of an insurance policy.
  • Insured: The person who is covered under an insurance policy.
  • Insurer: The insurance company which provides insurance cover upon payment of premiums.
  • Insured Declared Value (IDV): IDV is the current market value of a vehicle. It is agreed upon by the insurer and the insured and is paid on theft or total loss of vehicle.
  • Insurance Policy: A formal contract describing the policy term, coverage, premiums and deductibles.

Two Wheeler Insurance Glossary (L)

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  • Lapse- Termination of a two wheeler insurance contract because of non-payment of premiums.
  • Liability- Any legally imposed obligation
  • Limit- The maximum amount of protection, offered in a policy term.

Two Wheeler Insurance Glossary (N)

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  • No-Claim Bonus- Bonus given to policyholders on policy renewal for not making a claim in the previous year. NCB is offered as a discount on the Own Damage Premium.

Two Wheeler Insurance Glossary (O)

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  • Own Damage Premium (OD) - It pays for the expenses incurred to repair /replace parts damaged in the road accident, theft or damage of your vehicle due to fire, earthquake, etc.

Two Wheeler Insurance Glossary (P)

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  • Package Policy- A two wheeler insurance policy which offers two or more types of insurance covers in the same policy.
  • Perils- Perils include accidental or natural occurrences, like flood, lightning, fire, etc.
  • The amount paid by the insured to the insurer to access insurance cover according to terms and conditions of the policy.
  • Policy Term- The period of coverage under an insurance policy
  • Personal Accident Cover: It covers the insured against accidental death and permanent total disability. Add-on personal accident cover can also be purchased to cover the pillion rider.

Two Wheeler Insurance Glossary (R)

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  • Reimbursement- The payment of the expenses incurred as an outcome of an accident as specified in the policy.
  • Renewal- Continuance of a two wheeler insurance policy after expiry of its original term for a new policy term.

Two Wheeler Insurance Glossary (S)

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  • Settlement- Payment of a claim as per the terms and conditions laid down in the bike insurance contract.
  • Sum Insured- The limit of liability as guaranteed by the insurer under a two wheeler insurance policy.

Two Wheeler Insurance Glossary (T)

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  • Third Party- In a bike insurance contract, third party is anyone other than the insured (first party) and insurance company (second party).

Two Wheeler Insurance Glossary (Z)

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  • Zero Depreciation Cover- Zero depreciation cover is an add-on cover to existing bike insurance policy. It provides complete coverage without deducting for depreciation..

Why Two Wheeler Insurance

Listen to Our Customers

Thanks Manish

Dear Mr. Dharma – I would like to thank your company personnel at the customer services division for their excellent support. Your customer care executive, Manish Bhatia took care of all my queries in a very courteous and professional manner.

Would also like to thank Mr. R Rajkiran from ‘Invee Intelligence Private Limited’ and Mr. Umesh for taking this issue to closure.

Keep up the good work.

Majid Hashmat

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Mr. N. Rama Mohan Rao

Two wheeler Insurance Reviews

Average RatingBased on 35 Ratings

Kamlesh Samant

7/16/2016 10:51:28 AM

Category: General Insurance

Motor insurance covers several type of vehicle including two, three, and four wheelers. Typical Motor Insurance Policies consists ...

Madhukar Arora

10/07/2018 10:51:28 AM

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Having 2 wheeler insurance is mandatory in India, so it all just boils down to the kind of deal you can get. Liberty Insurance is...

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11/07/2018 10:51:28 AM

Category: General Insurance

I recently bought my first bike, and since it is one of the biggest investments that I have made, I wanted to hedge my bike...

Amit Singh

09/07/2018 10:51:28 AM

Category: General Insurance

Motor insurance covers several type of vehicle including two, three, and four wheelers. Typical Motor Insurance Policies consists ...

Kamlesh Samant

7/16/2016 10:51:28 AM

Category: General Insurance

Motor insurance covers several type of vehicle including two, three, and four wheelers. Typical Motor Insurance Policies consists ...

Two wheeler Insurance Blogs

Registration Number: 150 | ARN:Advt/2018/March/26 | CIN: U66000MH2010PLC209656

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