For bike lovers, a bike is more than just a means of transportation. It is a companion, a dream come true, and an emotion for them. And this companion deserves to get the best protection out there. That is what comprehensive insurance for two wheelers does. Everyone knows the benefits of getting your two-wheeler or car insured. It saves you from unexpected financial burdens and provides cover during an unforeseen accident. And comprehensive bike insurance ensures you and your bike gets all-around protection.
However, what is comprehensive bike insurance? What are its benefits? What about coverage? How is it better than third-party insurance for two-wheelers?
In this blog, we have answered these and more questions about comprehensive insurance for two-wheeler.
What is comprehensive bike insurance?
Comprehensive bike insurance provides all-around protection for your bike. Essentially, it is a combination of own-damage cover and third-party liability cover. It provides coverage against damage, theft, and total loss. It also covers damages to the third-party vehicle and injuries to the third party.
It is not mandatory to have comprehensive bike insurance in India. However, it is much more recommended to get this instead of third-party insurance for two-wheelers due to its wide coverage. With comprehensive bike insurance, you can also purchase various add-ons, such as zero depreciation cover, NCB cover, etc., to enhance protection.
Features of comprehensive bike insurance policy
Comprehensive insurance for two wheeler has many features that make it the ideal preference for bike owners. Let us look at some of them.
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Wide coverage: Comprehensive bike insurance provides wide coverage. From damages because of manmade and natural disasters to theft, insurance provides financial cover for everything. It also covers third-party liability, making it beneficial for bike owners.
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Available for all types of two wheelers: Comprehensive bike insurance can be taken for all types of two-wheelers, such as scooters, motorcycles, and e-scooters. Its benefits are extended to all two-wheelers, making it suitable for all two-wheeler owners.
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Reduced repair costs: Due to wide coverage, comprehensive bike insurance covers all repair costs. You only have to pay deductibles for any repair. The premium amount of comprehensive bike insurance is lesser than what you may have to spend on repairs during a year.
Benefits of comprehensive bike insurance
Still curious how you can benefit from comprehensive bike insurance? Here are some of the major benefits in detail.
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- Lower financial stress: Your bike is your companion. It is also an expensive asset. Having it damaged in an unfortunate accident or stolen will not only cause stress but also put a burden on your finances. Comprehensive bike insurance can take the financial strain off your back as it will pay for the repair of your bike. It will also cover the total loss due to theft or fire. And while insurance will not remove the stress completely, it will most definitely lower it.
- Legal protection: Comprehensive bike insurance will protect you from getting into legal trouble. Since bike insurance is mandatory in India, driving without it will lead you to pay exorbitant fines. Apart from legal trouble, comprehensive insurance for two-wheelers will also protect you from third party liabilities. It will cover the damages caused to the third party vehicle and also provide financial cover in case of the unfortunate death of a third party.
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Peace of mind: Indian roads are heavily congested. There is no other way to say it. With congested roads and heavy traffics, the possibility of accidents is also high. With comprehensive bike insurance, you will have peace of mind knowing that you are financially protected against any future loss to your bike.
Coverage under comprehensive bike insurance policy
Now that you know what are the benefits of getting comprehensive insurance for two-wheelers, let us discuss the coverage under it. Remember, the exact coverage list varies from insurer to insurer. But here are the common inclusions and exclusions.
Inclusions
- Third-party liability: In case of an accident with a third-party, comprehensive bike insurance will cover both the damage to the third party vehicle and injury to the third party.
- Accidents: Comprehensive bike insurance covers all damage caused to your bike during an accident.
- Theft: Getting your bike stolen may be one of the worst nightmares of your life. The only comfort – comprehensive bike insurance will provide financial cover.
- Calamities: This covers damage and loss caused to your bike due to manmade and natural calamities.
- Personal accidents: Insurer also provides cover for your treatment cost if you are injured due to an accident on your bike.
- Fire and explosions: In case your bike is damaged because of fire or explosions, your insurance will cover the losses.
Exclusions
- Depreciation: Comprehensive bike insurance doesn’t cover the cost of repair or replacement due to regular wear and tear.
- Electrical and mechanical breakdowns: Any loss to your bike due to electrical or mechanical breakdowns is not covered under insurance.
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- Driving under the influence of substance: The insurance doesn’t cover any loss if your bike is damaged when driving under the influence of alcohol or drugs or without a driving license.
- Unlawful activities: Any damage to the bike sustained during any unlawful activity, such as racing, is not covered.
Add-ons for comprehensive bike insurance policy
The beauty of comprehensive insurance for two-wheelers is that you can also purchase different add-ons to enhance your coverage. Here are some of the must-have add-ons.
- Zero depreciation cover: Depreciation is a natural process. Therefore, its costs are not covered by insurance. But with a zero-depreciation cover, you can get a bigger claim from your insurer.
- Roadside assistance cover: Bike broke down while driving? Need immediate roadside assistance? Roadside assistance has you covered. With this add-on, you can claim the cost of roadside assistance from your insurer.
- Loss of key: Losing your bike key is, unfortunately, normal. With the loss of key cover, you can claim the amount of replacing your key from the insurer. On a plus side, your insurer will also make sure you get a spare key quickly.
Other popular add-ons include a return to invoice cover, no-claim bonus protection cover, personal accident cover, and consumable cover.
Comprehensive insurance for two-wheelers is highly recommended for all bike owners. It provides wider coverage than third party insurance for two wheelers and is cost-effective. What are you waiting for? Go ahead and get comprehensive bike insurance and enjoy your rides stress-free.
Disclaimer: The above information is for illustrative purposes only. For more details, please refer to the policy wordings and prospectus before concluding the sales
