Accidents and natural disasters are unexpected and beyond anyone’s control. Your bike, like several of your other assets is also prone to damage from such unfortunate events. In order to gain respite from the constant worry of damage to this highly convenient and utilitarian investment, buying an adequate bike insurance policy is the best bet.
What does a bike insurance policy cover?
The insurance policy may take into account the damage to your bike due to accidents, as well as injuries to the rider and pillion rider. New-age motorcycle insurance policies address the various needs of riders and offer appropriate covers for the same.
Where to look for the best bike insurance plan?
The internet is an easy and reliable option to look for a perfect bike insurance plan which offers desired level of coverage. Buying a policy online is not only time saving, but also convenient as you need not locate an insurance office. As all transactions occur online, policy payment is quick and hassle-free, and a digitally signed policy is issued almost immediately.
How does bike insurance help me?
Bike Insurance plans are of two types, one with a liability only cover and the other that includes both liability and own damage cover, usually called a comprehensive policy. According to the Motor Vehicle Act, the coverage for third party liability insurance is a mandatory coverage for every two wheeler insurance policy in India. In case of policy expiration, you are likely to be heavily fined if caught.
The third party coverage offers respite from incurring any financial loss due to death or severe injury to any person or their property if an accident. You also get coverage against any legal liability which could be inflicted upon you during an unfortunate event.
An accident can leave your motorcycle damaged and getting it repaired promptly is crucial. If your bike is secured with a motorcycle insurance cover then you can avail the cashless claim facility. With this feature, you get access to a network of over 2150+ garages across India and get your vehicle optimally serviced. You need not worry about repair charges as the bills are settled by the insurance provider.
The coverage for no claim bonus is one of the beneficial features of your two wheeler insurance policy. If you do not make claims in the previous policy period, NCB can be availed at the time of renewal. You may then get a discount on the own damage premium of your insurance cover. An important thing to note is that this NCB value increases with every claim-free year.
All the above listed features will help you secure the optimal coverage to insure your motorbike so that unforeseen events do not deplete your finances.
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