Two Wheeler Insurance

Q1 – Define Two Wheelers in regard to Insurance?
Two Wheelers in regard to Insurance is applicable to motorized two wheelers and these two wheelers may be (with or without side car)

Q2 – Whether motorized two wheelers has same rating pattern?
The rating pattern is different and has been classified based on the use of vehicle. The use of the vehicle is classified as:-

  • Use of vehicle for Social, domestic and pleasure purpose and for professional purpose (excluding the carriage of goods other than samples) of the insured or used by the insured’s employees for such purposes but excluding use for hire or reward, racing, pace making, reliability trail, speed testing and use for any purpose in connection with the Motor Trade.
  • Two Wheelers (With or without side cars) used for carrying passenger for hire or reward. Such vehicles are rateable in India Motor Tariff Separately.
  • Two Wheelers (With or without side cars) used for Motor Trade Purpose rateable in India Motor Tariff separately.
  • Vehicle used for driving tuitions.


Q3 – Whether Motorized Two Wheelers has any additional premium rating factors?
Yes. The premium calculation there are four factors which has a bearing :-

  • Insured’s Declared Value (IDV) of the vehicle. For example for showroom delivery vehicle the IDV of the vehicle will be 95% of the invoice price and similarly each vehicle after calculation of depreciation the IDV is arrived. The lesser the IDV the lesser is the premium.
  • Cubic Capacity means the force of the engine. This has been divided into three parts:
    (a) Not Exceeding 150 c.c.  (b) Exceeding 150 c.c. but not exceeding 350 c.c. and
    (c ) Exceeding 350 c.c.. Thus higher the cubic capacity higher is the premium.
  • Geographical Zones: For the purpose of Motorized Two Wheelers India is divided in two Zones i.e. Zone-A and Zone-B depending upon the location of the office of Registration of the vehicle. Zone-A-Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Mumbai, New Delhi & Pune, Zone-B Rest of India.
  • Age of the vehicle.

Q4 – Whether for the benefit of the customers is there any discounts, bonus &/or compulsory deductions applicable under this policy?
Yes, there is a provision of No Claim Bonus, Voluntary Deductions and also compulsory deduction applicable as under:
(i) No Claim Bonus: Insured is entitled for NCB only at the renewal of a policy after expiry of the full duration of 12 months and this ranges from 20% to 50% and is applicable on Own Damage Section of the policy. However there are certain policies where this is not applicable viz. Motor Trade Policies.
(ii) Voluntary Discount. Voluntary discount is applicable over and above the compulsory deductible and ranges between 5% to 25% of the Own Damage Section.
(iii) Automobile Association Discount.

Raghunandan Insurance Brokers (P) Ltd. | Direct broker code: IRDA: DB/352

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