Bike insurance covers the cost of repairs in the case of accidental damage to your bike. It also provides financial security for theft, natural disasters, fraud, and third-party liabilities. A bike insurance cover ensures your pocket doesn’t feel the financial setback when encountering unforeseen losses and damages. Regardless of personal or commercial use, a bike insurance policy protects any two-wheeler, whether a scooter, motorcycle, or sports bike. Third-party two-wheeler insurance is a legal requirement, as per the Motor Vehicles Act 1988. Opting for a comprehensive bike insurance online policy offers several add-on choices, such as zero depreciation cover, breakdown assistance, engine and gearbox protection cover, tyre protection, and more, to ensure complete coverage for your bike.
Let us explore what does bike insurance cover in detail.
Bike Insurance Policy Inclusions
The following is a list of some inclusions covered by a bike insurance policy:
- Loss or damage due to natural disasters
A comprehensive bike insurance policy covers damages/losses incurred due to floods, earthquakes, fire and lightning, storms, cyclones, typhoons, landslides, explosions, and self-ignition, among other things. However, you must check the list of inclusions in your policy under this category.
Stay financially secure with PA cover if you are a registered owner-driver of your two-wheeler. You can also extend the coverage to all co-passengers by paying an additional premium on your personal accident bike insurance policy.
- Protection against man-made disasters
A bike insurance policy includes all types of man-made mishaps, from thefts to riots, strikes, mischief, external means-induced accidents, and even acts of terror.
A bike insurance policy has your back when it comes to third-party liabilities (i.e., damage to a third-party property and injury/death to a third-party person) that involve your bike. With a comprehensive bike insurance plan, you will receive coverage for third-party liabilities as well as your own damage.
Many insurers offer a range of extra benefits in the form of add-ons, such as coverage for roadside assistance and towing services.
Conclusion
When it comes to bike insurance, whether you purchase it online or offline, the main thing is that you need to understand the full scope of the coverage provided for your vehicle. Besides offering financial security, bike insurance gives a sense of relief and provides a safety net against unforeseen circumstances like accidents, theft, natural disasters and third-party claims.
By renewing your bike insurance online before it expires and taking adequate cover, you are adhering to legal requirements, protecting your investment, and ensuring peace of mind every time you ride on the road.
Disclaimer: The information provided in this blog is for educational and informational purposes only. It may contain outdated data and information regarding the Insurance industry and products. It is advised to verify the currency and relevance of the data and information before taking any major steps. ICICI Lombard is not liable for any inaccuracies or consequences resulting from the use of this outdated information.