Chola MS Own Damage Bike Insurance

The Own Damage Bike Insurance by Chola MS gives you protection at the time of damage to your bike due to an accident, theft, natural calamity, or other events such as vandalism. This policy particularly insures your bike against damage. Since third-party insurance only covers the damages to third parties, own damage bike insurance will give you the coverage through which you can protect your bike. You can also add options to enhance the cover: zero depreciation or engine protection. This will keep you well-insured in case of sudden and unexpected repair costs or losses.

Standalone Bike Insurance v/s Third-Party Bike Insurance v/s Comprehensive Bike Insurance

FeaturesOwn Damage InsuranceThird-Party InsuranceComprehensive Insurance
Coverage your own bikeCovers damages to your bike onlyNot coveredCovers damages to both your bike and third-party liabilities
Third-party liability coverageNot coveredCovers third-party property damage and injuriesCovers both third-party liabilities and own bike damage
Coverage for theftYes, bike theft is coveredNot coveredYes, bike theft is covered
Coverage for natural disastersYes, covers natural disasters like floodsNot coveredYes, covers natural disasters
Coverage for man-made eventsYes, covers vandalism and riotsNot coveredYes, covers man-made events
Personal accident coverOptional (through add-ons)Not includedAvailable as an add-on
Premium costModerateLower as it only covers third-party liabilitiesHigher due to broader coverage
Add-on covers availableAvailable (e.g., zero depreciation)Not availableAvailable (e.g., engine protection, zero depreciation)
Legal requirementNot requiredMandatory by lawOptional but highly recommended
Best for Those wanting protection for their own bikeThose seeking basic, mandatory protectionThose seeking full coverage for bike, third-party, and theft

What is Covered and Not Covered Under Chola MS Own Damage Bike Insurance

1Inclusions (What is Covered)

  • The policy covers damages to your bike due to accidents or collisions.
  • It provides coverage if your bike is stolen or completely lost.
  • This policy covers damage that is caused by fire, explosions, or self-ignition.
  • It covers damages that arise due to events like floods, earthquakes, storms, and other natural calamities.
  • The policy also covers damages caused by riots, vandalism, or other man-made events.

2Exclusions (What is Not Covered)

  • Normal wear and tear or ageing of the bike is not covered.
  • Failures due to mechanical or electrical issues are excluded.
  • Damages caused while riding without a valid driving licence are not covered.
  • Claims made for accidents occurring under the influence of alcohol or drugs are not covered.
  • Damages caused while using the bike for unlawful purposes are not covered.
  • Unless a zero depreciation add-on is purchased, the depreciation value of bike parts is not covered.

The Process to Buy Chola MS Standalone Own-Damage Two-Wheeler Insurance Policy

1Step 1

To start, visit the official website of Square Insurance.

2Step 2

Now click on the" Bike Insurance" option from the "Insurance Products" menu.

3Step 3

To get a plan for a new bike, click "Got a New Two-Wheeler."

4Step 4

For an old bike, enter the bike's registration number and click "View Plans."

5Step 5

Now, you only need to fill in details like RTO, make, model, variant, and registration year along with others in order to proceed to the next step.

6Step 6

The plan dashboard will open on your screen. You can go through the plans and click on an insurance plan given by Chola MS.

7Step 7

Pay for the selected plan, and the insurance document will be received at the email address within a very short period.

Compare & Save Upto 90%. Get Bike Insurance Starting at ₹457/Year*

By clicking on You, Agreed to our Privacy Policy & Terms of use & *Disclaimer

Disclaimer : Square Insurance does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.
Avarage Ratting
4.9 / 5 (Based on 210 Reviews)

(Showing Newest 10 reviews)

Write A Review

Insurance NewsTwo Wheeler Insurance Articles

Tips to Reduce Your Two Wheeler Insurance Premium in 2025

Tips to Reduce Your Two Wheeler Insurance Premium in 2025

Buying a two-wheeler gives you freedom and comfort, but the insurance premium can sometimes

Read More
What is the Impact of Seasonal Weather on Two-Wheeler Insurance Claims

What is the Impact of Seasonal Weather on Two-Wheeler Insurance Claims

Have you ever noticed how the weather can affect your daily ride? If it is heavy rain,

Read More
Different Type of Bike Tyres

Different Type of Bike Tyres

Choosing the right bike tyre is essential for a smooth and safe ride.

Read More
Non-Electrical Accessory Add-On in Bike Insurance

Non-Electrical Accessory Add-On in Bike Insurance

When you buy a bike, you might add extra parts like fancy seat covers, alloy wheels,

Read More
Scooter vs Motorcycle Which is the Better Choice for Daily Commuting

Scooter vs Motorcycle Which is the Better Choice for Daily Commuting

If you are someone willing to buy a two-wheeler in 2025, a question may have crossed your

Read More