What is Bike Insurance

Bike Insurance

Two-wheeler bike insurance is a protection plan that shields bike owners from third-party responsibility stemming from the use of two-wheelers. A contract for two-wheeler insurance is one in which

Under the Motor Vehicle Act of 1988, third-party bike insurance is required for all two-wheeler owners. Two-wheeler insurance protects you financially in the event of a vehicle accident by covering the cost of repairs. It also lessens the impact of natural disasters or third-party liability / personal accidents. The following policies are covered by bike insurance:

What is Bike Insurance

• Rental Agreement: provides members of the family with a free rental motor vehicle on a two-wheeler. After the policy is over, you have to rent the vehicle again.

• Insurance against third party liability: gives you personal accident cover and also gives your bike owner's coverage to protect against third party liabilities caused by loss or damage to your bike/vehicle due to third parties. In other words, it is not just about protecting your bicycle from theft or vandalism but also pays for any loss or damages arising from theft, vandalism, fire, and natural calamities from these accidental events.

• In case of an accident, you are compensated for damages arising to the vehicle and third parties also. The money is paid by your insurance provider who in turn gets it from the third party insurance for mishaps and damages.

• In case of theft or vandalism loss, you are paid a definite sum irrespective of any depreciation. In other words, it is not subjected to any percentage deduction according to depreciation.

• Insurance against natural calamities: covers damages caused by fire, blast, earthquake, cyclone, and hailstone, etc.,

• If you are involved in an accident with uninsured vehicles then in that case your bike insurance policy covers those claims up to 100% insured premium.

• If you are in an accident with another vehicle, which is not owned by you, but is insured with your vicarious liability insurance then your vehicle will be compensated up to 100% of the insured premium.

Some people tend to change bikes every year so they cancel bike insurance. But bike insurance can be availed and re-newed any time during the policy period. Bike insurance prices vary from one company to another and depend on many factors such as bike model, engine capacity, and state where he/she resides in India. In case of theft or damage caused by natural calamities, agents offer an additional sum as compensation. Apart from the cover provided by bike insurance, one needs to keep several other things in mind to protect against any mishaps.

Best Bike Insurance Company: It gives you security from the loss of your bike through third-party liability due to accidents or vandalism. It also covers parts and labor to fix your bike if something goes wrong with it.

The reason for different prices in different companies lies in the claims handling procedures, the experience level of the agents, rider safety standards that are followed by the company, and policy flexibility offered by each company.

What is Bike Insurance

It is quite a common feature, and often seen in India, that bike owners do not have adequate insurance cover. Bike owners should especially ensure they have adequate cover in case of accidents and mishaps. Are you worried about what to do while you are away from your bike?

But the question is how can you be sure that your bike is adequately covered in case of an accident? There are various things to worry about when it comes to bike insurance -

There are many reasons why people who purchase a bike for their users tend to think about or even forget about the need for individual or any other type of insurance coverage against accidental accidents.

The most often seen reason is that they do not know whether they have to ensure their vehicle or not. But if one has any doubt about the same, then it is always better to check with the bike seller or with an expert in this field.

Another reason why people tend to avoid getting covered against accidental damage is because of the possible high cost of such insurance policies for bikes. But if one goes through various types of bike insurance quotes and details, one would easily realize that there is a huge difference in premiums and rates charged by different companies for providing reliable coverage.

It all depends upon the type, age, and make of the bike as well. There are many types of bike insurance companies that provide such policies in India. The list is as follows:

It is quite a common feature, and often seen in India, that bike owners do not have adequate insurance cover. Bike owners should especially ensure they have adequate cover in case of accidents and mishaps. Are you worried about what to do while you are away from your bike?

But the question is how can you be sure that your bike is adequately covered in case of an accident? There are various things to worry about when it comes to bike insurance -

There are many reasons why people who purchase a bike for their users tend to think about or even forget about the need for individual or any other type of insurance coverage against accidental accidents.

The most often seen reason is that they do not know whether they have to ensure their vehicle or not. But if one has any doubt about the same, then it is always better to check with the bike seller or with an expert in this field.

Another reason why people tend to avoid getting covered against accidental damage is because of the possible high cost of such insurance policies for bikes. But if one goes through various types of bike insurance quotes and details, one would easily realize that there is a huge difference in premiums and rates charged by different companies for providing reliable coverage.