49% of two-wheeler insurance from tier-3 cities, 78% add zero-dep: Report

A recent report reveals that 49% of two-wheeler insurance policies in India are issued in Tier-3 cities, with 78% of these policies including zero depreciation (zero dep) add-ons. This trend indicates a growing awareness and demand for comprehensive insurance coverage among two-wheeler owners in smaller cities. The zero dep add-on, which covers the full cost of repairs without factoring in depreciation, is particularly popular as it offers enhanced financial protection. The report also highlights the increasing penetration of digital platforms in the insurance sector, making it easier for customers in remote areas to access and purchase insurance products. This shift towards digitalization is expected to drive further growth in the two-wheeler insurance market.