COMPREHENSIVE BIKE INSURANCE

So this is your first ever two-wheeler, and now that you finally have it, you must be looking for a complete protection package for the bike! What if we say that there is something that can offer ample protection to your motorcycle and also feel light on your pocket?

Get yourself your bike insurance plan and go on some exciting road adventures. We'll walk you through the intricacies of buying a motorcycle insurance policy. You will also get to know about various add-ons that can expand the coverage of your policy.

Comprehensive bike insurance plan – What is it?

Bike insurance or comprehensive two-wheeler insurance is a legal contract between you and the insurance company. This policy covers expenses and repair costs incurred as a result of an accident, theft, natural disaster, or human-caused events such as rioting, as well as a legal obligation to a third party/person/property.

A comprehensive bike insurance comprehensive policy will compensate for different unanticipated incidents, allowing you to drive without worry. It's the perfect blend of personal injury protection and a third-party two-wheeler insurance policy.

What exactly is covered?

  • Instances of bike damage of the insured or a third party because of road accident
  • Theft, damage, or loss of your two-wheeler
  • Any losses incurred as a result of natural disasters also get compensated.

Significance of comprehensive two-wheeler insurance

A 2 wheeler comprehensive insurance coverage plan will provide enough protection to you, your bike, and any other third parties involved in an accident, whether you are riding a motorcycle, scooter, etc.

This sort of insurance is frequently referred to as a "package" policy. In our country, buying a comprehensive bike insurance policy is not mandatory. However, third-party liability coverage is mandatory as per the law of the land. Two-wheeler insurance with comprehensive coverage can be purchased online to provide complete coverage for your beloved bike or scooter.

No one feels safe without comprehensive insurance coverage for their vehicle in this age of rising accident rates in India. The comprehensive package also ensures that your car is protected from damage caused by both intentional man-made activities and natural disasters. No one wants to take the chance of driving without insurance.

Furthermore, in the event of a total loss of the two-wheeler, a comprehensive bike plan pays out the IDV amount.

Comprehensive bike insurance policy versus the third-party two-wheeler insurance plan

The key distinction between Third-Party and Comprehensive Bike Insurance is the scope of coverage. While third-party bike insurance only compensates for the expenditures of the third party, comprehensive bike insurance also covers your losses and gives you the choice to expand your coverage beyond the basic advantages with a variety of add-ons and covers.

Given the extent of hazards connected with riding two-wheelers in and around cities, selecting the proper type of bike insurance for your two-wheeler is critical. Furthermore, with the new traffic regulations and substantial fines associated with not having appropriate bike insurance, you can no longer afford to be without it!

Add-ons to amp up your comprehensive bike insurance

  • Coverage with no depreciation

Insurers always consider depreciation when you file a claim. However, with Zero Depreciation Cover, you can avoid depreciation on your bike. It offers to you the complete amount of the claim sans any charges for depreciation.

  • Return to the cover of the invoice

This add-on will come in handy in case a burglar steals away your bike. You can also use the add-on when the two-wheeler is damaged beyond repair. With the return to invoice add-on, the insurance company will compensate for the expenses of procuring a similar or identical bike. The insurance company also takes care of expenses related to registration and taxes.

  • Cover for the engine and gears

Suppose your bike engine gets damages due to a road accident, the expenses will be covered by your insurer. Consequential damage, on the other hand, is not compensated though. This is when a cover for engine and gears add-on proves to be beneficial, compensating the repair costs.

  • Coverage for Breakdown Assistance

In the event of a breakdown, the roadside assistance add-on makes sure that you get immediate assistance from your insurer. And the best thing about this add-on is that it is not even considered as a claim. This means you still can enjoy the NCB.

  • Cover that can be consumed

The cost of replacing items such as screws, engine oils, nuts & bolts, and lubricant is covered under this add-on's package policy.

FAQs 

  1. In a two-wheeler insurance policy, what is a personal accident cover?

By paying a minimal amount, you can acquire personal accident protection of up to Rs.1 lakh when you purchase mandatory third-party two-wheeler insurance. Optional pillion rider/passenger accident coverage is available for an extra price.

  1. What is the definition of a comprehensive insurance policy?

A complete insurance policy protects your two-wheeler from impact damage, fire, theft, earthquakes, and other perils. Furthermore, it covers any third-party liability in the event of death, physical injury, or property damage to a third party.

  1. What is the difference between first, second, and third party insurance?

The insured or policyholder is referred to as the first party in an insurance policy. In the event of a loss, injury, or accident caused by you to any other entity, the first party can obtain the predetermined sum assured from his or her insurance carrier, which is known as the second party. And the entity, to which you have caused any damage, is known as the third party.

  1. What happens if my coverage expires and I want to renew it?

You can quickly renew your policy online if it has run out of coverage. There is no need for an examination, and you can purchase the policy online. You will receive a copy of the policy once payment has been received.

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