What Is Insurance For Bikes?
In a contract between the bike owner and the insurance provider, the latter agrees to pay for any damage to the bike from an accident, theft, or collision. In case of any terrible catastrophe, natural disasters like a fire or landslide, or artificial reasons like theft, riots, or vandalism, bike insurance online is essential for protecting financial and legal duties.
Why Is Bike Insurance Required?
The following justify why having a bike insurance policy is essential for the owner of a vehicle:
- Coverage For Natural And Man-Made Disasters: Insurance coverage covers damage to the bike brought on by both natural and artificial disasters, such as landslides, floods, earthquakes, fires, and so forth.
- Coverage Against Theft: Losing your bike to theft can be pretty upsetting, and the financial repercussions could be far more severe. However, if your motorcycle is insured, you won’t need to worry much because the insurance provider will undoubtedly pay for replacing your vehicle as soon as you report the theft of your bike.
- Coverage Against Third-Party Liabilities: A third-party bike insurance, which is required, gives your bike financial protection against any injuries or damages that may be caused to a third party due to your vehicle being involved in an accident. *
- Coverage Against Own Damages: A bike insurance policy provides financial assistance to the owner for repairs to damaged motorcycles caused by accidents or natural disasters.
- Key Features And Benefits Of Bike Insurance 360-Degree Protection: In any accident or disaster, a bike insurance policy offers 360-degree financial and legal protection to you, your vehicle, and third-party persons or property.
- No Claim Bonus: Insurance firms offer no-claim bonuses as a concession for years in which no claims were filed. Up to 50% of the NCB bonus on the insurance premium is offered by bike insurance providers, which is a big benefit for the insured. *
- Personal Accident Cover: One of the advantages that the insured obtains as soon as they insure themselves under a bike insurance online policy is personal accidental coverage. This insurance protects the bike rider from any physical harm or fatalities brought on by an accident. *
Various Types Of Bike Insurance
- Third-Party Insurance
The third-party insurance covers any harm, loss, or demise brought on by an accident involving the insured’s motorcycle.
- Comprehensive Insurance
This type of insurance policy gives the bike owner comprehensive protection. It protects you, your bike, and any other people or property against monetary losses from accidents.
- Individual Own-Damage (OD)
In case of an accident or disaster, bike insurance covers damages to your vehicle. Under this plan, the insured is given financial security for their own covered motorcycle. *
A two-wheeler insurance calculator is a convenient tool you may utilise online to check the amount of coverage required based on your needs.
* 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.