Two Wheeler insurance in India, like all other Motor
Insurance, is governed by the India Motor Tariff. It is applicable to all
motorized Two Wheelers.
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There are two basic types of policy, Act only Policy and
Package Policy. Act only Policy covers liability towards third parties ( death
/ injury / Third party property damage ) and Personal Accident cover to the
owner cum insured. Package Policy covers loss / damage to the vehicle or its
accessories, in addition to the cover granted under the Act Policy. The Premium
charged depends on
the value of the vehicle
Cubic Capacity of the Vehicle ( not exceeding 150cc /
exceeding 150 cc but not exceeding 350 cc / exceeding 350 cc )
age of the vehicle ( not exceeding 5 years / exceeding 5
years but not exceeding 10 years / exceeding 10 years )
Geographical Zone(s) in which the vehicle is registered ( a.
Ahmedabad, Bangalore, Calcutta, Chennai, Hyderabad, Mumbai, New Delhi and Pune
Rest of India
The Registered Owner of the vehicle is required to fill in a
proposal form, giving full details of the vehicle, in addition to certain basic
details like/regarding his name, age, address, occupation etc. The owner may
opt for the following extra covers on payment of prescribed additional premium.
Electrical , Electronic fittings and accessories
CNG / LPG Kits as permitted by RTA
Liability to paid drivers / cleaners
Liability to employees ( of the Insured ) using the vehicle
use in / for rallies, motor racing, speed testing organized
by recognized motoring agencies
use for driving tuitions given by Driving Schools recognized
by RTA
Personal Accident cover to the owner / insured ( if he has a
valid Driving License )
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Discount in the basic premium is granted if:
the vehicle is fitted with a side car
the vehicle is fitted with anti-theft device(s)
the owner is a member of recognized Automobile Association
the vehicle is designed / modified for use of blind,
handicapped and mentally challenged persons ( if suitable endorsement is made
in the RC by RTA )
the insured has not preferred any vehicle damage claim ( No
Claim Discount )
if the Insured agrees to bear an additional amount (Rs.500
to Rs.3000) as deductible in the event of a own-damage claim (Voluntary
Deductible)
Article Source: http://EzineArticles.com/1546268
