Understanding The Different Types Of Bike Insurance Coverage

Want to know more about the various online bike insurance options available in India? You are in the proper location.

Riding a two-wheeler frees one from a number of restrictions. You don’t have to depend on unreliable public transportation, expensive auto-rickshaws, or time-consuming cab rides. Two-wheelers are preferred for commuting to work or school since they also have the benefits of easy mobility and easy parking. These are helpful in India’s congested conditions.

What is insurance for bikes?

When you ride a bike on a public road, you essentially put other people and yourself at risk for mishaps, collisions, etc. These occurrences could be the result of carelessness or lack of experience. In either scenario, the bike may sustain full or partial damage, while the other drivers may sustain injuries or even pass away. Bike insurance is a need in order to protect against such tragic occurrences.

In a bike insurance policy, the insurer guarantees to cover all costs or obligations associated with the insured bike. The policy is a legal agreement between the insurance company and the policyholder, under which the former commits to providing insurance protection in exchange for regular and prompt premium payments from the latter.

What two-wheeler insurance options are there in India?

There are three primary kinds of bike insurance plans in India:

  1. Third-Party Liability-Only Bike Insurance
  2. Standalone Own Damage (OD) Bike Insurance
  3. Comprehensive Bike Insurance
  • Coverage for third-party liability only: According to India’s Motor Vehicles Act, a bike must be insured to cover any liabilities that may result from losses or damages incurred by third parties as a result of collisions caused by the insured bike. Third-party bike insurance is the common name for this type of insurance plan for bikes. If the insured bike causes an accident within the terms of this policy, any injuries to or fatalities of third parties, as well as damage to their vehicles, will be covered.
  • Individual own damage cover: An individual own damage bike insurance online policies that cover bike insurance claim for damages to the insured two-wheeler are known as two-wheeler insurance policies. It covers theft of the bike, the total damage to the bike (damaged beyond repair), and damages brought on by man-made and natural disasters. But third-party liabilities are not covered by this policy. Therefore, this policy can only be purchased in conjunction with the legally required third-party liability coverage.
  • Comprehensive two-wheeler insurance: As the name implies, this policy provides comprehensive 360-degree coverage for both you and your bike against any third-party liability. Comprehensive motor insurance is a sort of two-wheeler insurance that provides the owner-driver with personal accident coverage as well as coverage for any legal and financial third-party obligations as well as own-damage coverage for the covered bike. Additionally, by supplying a list of special add-ons with your policy, you can acquire customised coverage against particular situations. Zero Depreciation Cover, Roadside Assistance Cover, and other add-ons are popular choices. *

*Standard T&C Apply

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

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