Scooter Insurance Price, Types & Plans in India | Royal Sundaram
Insurance for Scooter
Scooters are an essential part of the lives of middle-class people. It enables easy commutation – be it from home to work and back, or for long leisure rides. Protecting your scooter is, therefore, a must. Thus, you must buy motor insurance for your scooter. It covers you and your scooter against possible accidents and damages. Apart from this, according to Government regulations, it is mandatory to purchase two-wheeler insurance whenever you buy a two-wheeler. If you are buying a bike, you will need bike insurance. Likewise, if you are buying a scooter, you will need scooter insurance. In actuality, both are two-wheeler insurance.
Types of Insurance for Scooter
There are two kinds of two-wheeler insurance – comprehensive insurance and third party insurance. You can also choose to buy add-ons with these insurance policies.
- Comprehensive Insurance Cover- This is the best possible two-wheeler insurance that people can buy. It covers the repairing costs of the scooter resulting due to accidents which are caused due to the faults of the rider. It also covers third-party accident costs. This provides financial support against damages suffered by another individual, their scooter and/ or their property. This insurance policy also covers costs related to damages by natural disasters such as fire, storm, or if it’s stolen. Since an accident also involves injuries, it is useful to have an insurance cover that also takes care of medical expenses. The comprehensive Insurance cover would take care of medical expenses if the accident were not caused due to the fault of the rider.
- Third Party Cover - This insurance policy covers the costs of accident-related damages and injuries caused to a third party. This insurance policy does not cover the costs for damages that are caused to the rider. Thus, it is better to opt for a comprehensive insurance cover since it provides wider coverage.
Add- On Insurance Covers
Add-on covers are additional protection offered by the insurance companies over and above your base insurance policy. You will have to pay extra premium amount to avail the benefits of add-ons. Some of the additional covers available with Scooter Insurance are –
- Personal Accident Cover for pillion rider
- Legal liability cover for paid driver
- Towing cover
- Non-electrical accessories cover
- Electrical accessories cover
- Personal Accident cover for unnamed paasengers
Applying for scooter insurance online
While you can visit any of the physical branches of your insurance provider to apply for scooter insurance, doing it online is always easier and more convenient. Moreover, it saves your precious time. Here’s how you can apply for scooter insurance online;
- Visit the website of your insurance provider and click on two-wheeler insurance.
- Fill in your scooter details such as the type, model number, etc.
- Next, use their premium calculator and know the premium amount.
- Now, fill in your personal details such as your name, address, mobile number, etc.
- Read the policy documents carefully and click on ‘I agree.’
- The last step is to pay the premium amount.
There! You have applied for scooter insurance online.
How are the premium costs of your scooter insurances calculated?
The costs of purchasing scooter insurance and its premium are dependent upon several factors. Some of them are as follows:
- The degree of coverage of an insurance policy determines its cost. If you purchase an insurance policy that has greater coverage with many add-ons, then it will have higher premium rates.
- Insurance costs are also determined by factors related to your scooter. Some of these include the engine capacity of the scooter, the date of its manufacturing, model number, and type, the distance it has travelled till now, the date of registration of the vehicle, etc. There will be greater insurance costs for those scooters that are new, expensive, and have more accessories.
Insurance for Scooter price list
The third-party premium prices have been notified by the Insurance Regulatory and Development Authority of India (IRDA) for the year 2019. They are as follows:
Nature of Vehicle
Insurance Premium Cost
Vehicle less than 75 cc
More than 75 ccs and up to 150 cc
More than 150 ccs and up to 350 cc
More than 350 cc
● How much does it cost to insure a scooter?
The cost of insuring a scooter varies across insurers and is based on a lot of factors. A detailed account of premium rates for various kinds of two-wheelers has been provided in the article.
● Is it necessary to insure a 50cc scooter?
Yes, you need to have an insurance policy if you have a 50cc scooter. Scooters which are below 50 ccs are exempt from insurance policy coverage.
● Which insurance is best for a two-wheeler?
Comprehensive insurance cover is the best insurance policy that could be purchased for a two-wheeler. Apart from third party liability, it covers repairing costs for your scooter resulting from an accident. It protects your vehicle against loss, damage or theft, provides you with a Personal Accident cover, and also takes care of any third-party liabilities.
● What is the difference between comprehensive and third party insurance?
The comprehensive insurance policy covers the repairing costs of both, the scooter owned by you as well as those of a third party whose vehicle got damaged in an accident involving your scooter. On the other hand, third party insurance covers only the repairing costs of the vehicle owned by a third party. It does not cover any damages caused to your vehicle.
● How can I get low cost scooter insurance?
You can get low cost scooter insurance by following some of these steps – Purchase a less expensive scooter which does not have too many accessories, do not overuse your scooter, park your scooter in designated parking spots, do not allow unknown people to ride your scooter who are prone to accidents with your scooter.