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Two Wheeler Insurance Myths Busted

Getting your two wheeler, bike or scooter, insured is an absolute must if you are looking for a legal and hassle free vehicle ownership and riding experience. Many people however still fall victim to a number of myths when it comes to insuring these vehicles. Here are a few common myths about insuring a scooter or a motorcycle.

Myth 1 - Electric two wheelers do not need insurance:

Many people who buy battery powered two wheelers like scooter or motorcycles think that they do not need insurance. The reality is that if your battery powered motorcycle has a registration number and can go faster than 25 kmph speeds, you will need to buy two wheeler insurance. Any electric vehicle which has a motor of more than 250 watt power needs to be registered and insured like any petrol two wheeler. Only difference with EV is that you do not need a pollution certificate.

Myth 2 - Buying only third party insurance will be enough:

Third party insurance is the minimum legal requirement for operating a vehicle on a public road. However third party two wheeler insurance will only cover the risk of damage to any other person but you are the owner of vehicle and your own damage is not covered by that insurance. If you have an accident with a bike, third party insurance will not cover the repair and part replacement cost of your own bike. It will only cover the court ordered legal damages to the other party involved in accident.

Myth 3 - Buying regular insurance also covers commercial usage:

A number of people get confused about commercial usage of vehicle. Did you know that two wheelers are considered to be in commercial use even when you are using them to travel for business purposes? Ask any person who is involved in on-site repair of any consumer appliances or electronics, and they will not be aware of this fact. If you are an AC technician and use your bike to visit your clients’ homes or offices to repair or install their ACs, this is considered commercial usage of the vehicle. Any travel, where you are claiming a travel allowance from your employer is also considered commercial usage. In this case, your regulartwo wheeler insurance will not be usable and you will need to buy commercial usage insurance.

Myth 4 - Pre-insurance inspection is needed on every policy renewal:

Many people think that every time they renew their vehicle insurance, the vehicle needs to be inspected by insurer and they need to present the bike for being photographed. This is a very common misconception. The fact is that the only case where you need to present the vehicle for pre-insurance inspection and for being photographed is if you let your insurance policy expire. You will need to buy bike insurance​ afresh if you let your policy expire. If however, you are buying the new policy while your policy is still in force, it will be treated as a policy renewal and this can be done online all by yourself. Also note that as long as you are renewing the policy, it does not matter if you are changing the insurance company as well, you are good to go without any inspection.