Protect Your Vehicle with Green Finance Insurance
Affordable plans, fast coverage, and total peace of mind.
Affordable plans, fast coverage, and total peace of mind.
Bike Insurance also known as Two Wheeler Insurance helps you to protect against damages to your bike due to accident, theft and natural disaster. Third Party Bike Insurance is mandatory as per Motor Vehicle Act 1988.
Protects damages to your Bike due to Accident, Theft etc.
Protects against legal liability due to death, disability or damage to property of other party involved in accident.
Protects damage to your own Bike and Third Party as well in case of an accident.
Claim full cost without depreciation on parts. Available as Add-On.
Get towing, minor repairs, fuel delivery, and emergency help when stranded.
Reimburses the original invoice value if your bike is stolen or a total loss.
Protects engine damage during waterlogging. Must-have in monsoon.
Choose from Third Party, Own Damage or Comprehensive Policy based on your need.
IDV is the Insured Declared Value of your vehicle. Higher IDV = Better Protection.
Pick zero depreciation, roadside assistance or invoice cover if your insurer offers them.
Check for No Claim Bonus eligibility. You can save up to 50% in renewal premium.
Look for insurers with a strong claim settlement record and easy online process.
Choose an insurer offering best coverage at affordable premium with no hidden cost.
This policy cover is a combination of OWN DAMAGE & THIRD PARTY DAMAGE. Own Damage Cover offers protection from theft, accident, natural disasters, and more.
Covers legal liability arising from injury or property damage to third parties. Mandatory under Indian law.
Provides compensation in case of permanent disability or death of the owner-driver. Can be up to ₹15 lakh.
Look for well-reviewed and financially stable insurance providers with a good track record.
More garages in the insurer's network mean better post-accident support and faster service.
Opt for insurers with digital onboarding, online renewals, and mobile app support.
Good support post-purchase matters. Check claim settlement and service reviews.
(The Premium for Car Insurance Policy is calculated based on the following factors)
| Insured Declared Value (IDV) | The vehicle insurance provider will consider the IDV of the make and model of your car. The IDV changes annually after adjusting the depreciation value of the car |
|---|---|
| No Claim Bonus (NCB) | You would receive a No Claim Bonus in every claim-free year |
| Discounts or offers | If the vehicle contains additional accessories which include the selling price of the car, then the premium for those accessories will be calculated separately |
| Age of the car | When the company introduces newer models, older models enjoy reduced premium |
| Geographical location | India has been classified into Zone A and Zone B. Zone A includes all major cities including Bangalore, Ahmedabad, Chennai, Mumbai, Kolkata, Pune, and New Delhi. Where the accident risk is considered high, the insurance premium is higher than in Zone B (rest of the country) |
| Add-ons | Facilities like roadside assistance, nil/zero depreciation, return to invoice, lock and key replacement and loss of personal belongings add to the premium cost |
Insured Declared Value can be taken as the current market price of your vehicle. It is the maximum sum assured that the vehicle insurance company would pay in case of a claim being raised on loss or theft of your vehicle or if it gets damaged beyond repair.
In order to arrive at Insured Declared Value of your vehicle, car insurance policy Company adjusts it with standard depreciation rates as prescribed under Indian Motor Tariff Act.
| Age of Vehicle | Depreciation Chart |
|---|---|
| 0-1 | Insurance value at 95% of invoice price. Depreciation —5% |
| Renewal after 2nd year | 20% depreciation on IDV of previous year |
| Renewal after 3rd year | 30% depreciation on IDV of previous year |
| Renewal after 4th year | 40% depreciation on IDV of previous year |
| Renewal after 5th year | 50% depreciation on IDV of previous year |
| Renewal after 6th year | 10% to 15% depreciation on IDV of previous year is deducted year on year |