TWO-WHEELER INSURANCE IN INDIA
The Insurance and Regulatory Development Authority of India (IRDAI) regulates the two-wheeler bike insurance sector in India. Bike insurance insures your two-wheeler against damage, loss, theft, and covers the damages caused to a third party by the insured vehicle. It provides a “Personal Accident cover” to owner-driver, wherein if the vehicle meets with an accident, the owner-driver is covered against severe injury and even death.
BUYING BIKE INSURANCE ONLINE
As per the new Supreme Court directive, insurance cover should be compulsorily purchased while buying the new two-wheeler and will be provided by the dealer himself (You have the option of suggesting the insurance company of your choice). For renewal of existing policies, just before the expiration of the policy term, you can renew the cover on the web portal of the insurer under the relevant section. The following data is required if you need to buy a new policy, and renew or verify an existing policy - –
- Registration number of the two-wheeler
- Manufacturing Year
- Registration City
- Make and model of the vehicle
- Status of your previous policy (Active/non-active)
- Mobile number
- No claim bonus
- Net-Banking details to pay for the policy
HOW TO FIND BIKE INSURANCE POLICY NUMBER ONLINE USING REGISTRATION NUMBER
- What is a Registration number?
The registration number is the official and legal identity number of any authorized vehicle plying on Indian roads. The district-level Regional Transport Office of every state is the appointed authority to issue a registration number to every new vehicle. The owner of the vehicle has to get the new vehicle registered at the respective RTO of his district within a month of purchasing it. Once the registration is complete, a unique number is allotted to the vehicle. The number has to be displayed on a metal number plate and affixed at both the front and back of the vehicle. The registration number has an authorized structure for different types of vehicles.
For example, a personal use bike in Maharashtra may have a number MH 0X AL XXXX. The first two alphabets are the state code. The next two digits are the district sequence number. The following two alphabets are the ongoing series of the RTO and/or the vehicle classification. The last four digits are the unique number for the vehicle.
This elaborate system for numbering vehicles makes it easier to identify, search and track any vehicle by even a partial number. It also makes maintaining specific records of each vehicle concerning its ownership, RTO details, and insurance details.
- How to buy bike insurance using the registration number?
When you buy a bike insurance policy online, you need to input your registration number. Once you buy the policy, the details of your policy get linked to your registration number and can be accessed by the RTO, state or central government.
- How to renew a policy using the registration number?
The registration number can also be used to renew your policy. As the policy gets linked to your registration number, you can track your policy details using the number and renew it on time.
- How to check the status of your bike insurance with the registration number?
The registration number is the unique identity of your bike just as an account number is for your bike account. The account number can access the bank account and any transaction in it. Similarly, the registration number can be used to check the detailed information of every two-wheeler which is maintained by the RTO, the state governments, etc.
When you buy an insurance policy for your bike, that information is also stored as a part of your registration number. This insurance information is available now on the insurance company website and the IRDAI website.
If you wish to know your policy end date and do not have your policy number with you, go to the official website of your RTO or the State Transport Department’s website. You can also visit the official website of the Government of India – Ministry of Road Transport and Highways (https://parivahan.gov.in/parivahan/ Enter your registration number; you will be able to verify the status of your bike insurance policy. It shows till when the insurance is valid. It also gives all the details of your bike like engine number, makes and model, year of registration, registration city, etc.
The web portal of Insurance Information Bureau (created by IRDA) has comprehensive data of all the insurance policies linked to every registered vehicle in our country. Go to the website (https://iib.gov.in/), under the head “Vehicle Insurance Status Search” you will get the detailed information regarding your two-wheeler insurance policy by your registration number.