For bike enthusiasts, there is nothing as precious as their bike. The passion that they experience for their bike is like no other. Most owners make a wise decision and secure their bikes with insurance. It is mandatory in India to own third-party twowheeler insurance for your bike.
The insurance cover will help you in distressed situations. If you do not know how to go about buying bike insurance, here is all you need to know.
Primarily, you need to start looking for a comprehensive cover. Depending on the type of bike you own and based on the usage of the bike, you need to look for atwo-wheeler insurancepolicywhich will help maintain your financial stability and provide security to your bike in case of an accident.
Third-party insurance is essential as per the law. However,you could opt for comprehensive coverage, which includes the coverage provided by third party insurance for bike and has an own damage coverage. In addition, there are various riders you can purchase for the coverage of your bike.
Factors that affect your insurance
Numerous factors like your age, history, cost of the bike and the customisations made to the bike play a prominent role in the insurance you buy. Apart from these, there are many other factors, which you need to keep in mind when buying the insurance cover.
- Extensive Coverage
You need to keep in mind that the insurance policy will help you pay for the damages that occur in case of an accident or crash of the bike. Pick an insurance policy, which covers all aspects like natural disasters, as well as, manmade disasters.
- Personalised Add-ons
If you have personalised the bike with expensive accessories to make it look classy and unique, you might want to protect these parts with an additional premium. Replacing these parts could cost a lot and it is a wise decision to ensure that your insurance policy covers these parts in your bike.
- Third PartyInsurance
In an unfortunate event, there is a possibility that you might meet with an accident or cause an accident in certain cases. This means you could affect someone else because of your negligence and this insurance cover will help you with the third-party liability. Comprehensive plans offer third party liability but it can also be opted for as a standalone plan in place of a comprehensive policy.
Buyingbike insurance will help make your life easier. You will not only be able to ride your bike without any stress but you can also ensure that you are protected from third-party liabilities. You need to ensure that you choose the right type of cover for your bike and invest in a quality insurance plan.
Use the bike insurance calculator to estimate the amount of premium that will be payable on the policy. Do not get carried away by the cost of the insurance policy. A lower premium on the policy might mean a lower coverage for you.