Best two-wheeler insurance for July 2022 – Forbes Advisor INDIA

The Digit Own Damage Two-Wheeler policy is good for those who only have liability coverage as insurance. The own damage insurance policy will extend the scope of coverage of their existing third party cover by providing them with cover for damage and loss caused by accidents, theft or due to fire or any natural calamity. The most convenient feature for policyholders is that the company inspects the vehicle digitally.

Main characteristics

  • Coverage available for damage and all kinds of losses due to:

1. Accident
2. Flight
3. Fire
4. Any kind of natural calamity such as flood or landslide

1. Zero Depreciation Coverage which provides the full value of repairs without any deduction for depreciation, in the event of damage to the two-wheeler.

2. Roadside Assistance coverage provides 24 hour roadside assistance for any type of breakdown, tire replacement, towing, fuel replacement simply by contacting customer service.

3. Consumables charges cover vehicle oil, refrigerants, coolants, electrolytes, fluids, nuts, bolts, screws, filters, bearings, washers, clips and other items similar.

4. The return on invoice provides cover against any damage when the insured receives the original invoice price of the two-wheeler, including road tax and registration fees.

5. The engine protection cover provides protection against any engine damage resulting from oil leakage, natural calamities or mechanical problems.

  • This policy also gives freedom to the insured to opt for IDV according to his choice. IDV is the maximum claim amount the insurer will pay if the vehicle is damaged beyond repair or is stolen. The own damage premium is calculated as follows:
    VDI X [Premium Rate (decided by insurer)] + [Add-Ons (like extra coverage)] – [Discount & benefits (like No Claim Bonus)]