A bike insurance policy protects you in two main ways: protection from legal liabilities and protection from financial expenses consequential to the accidents involving your bike.
- Legal Obligations: You are legally responsible for covering the cost of damage if your out-of-control bike causes an injury to a pedestrian or causes property damage. You are protected from such liabilities by a third-party liability policy, where the insurance provider will handle the legal liabilities on your behalf by the terms and conditions.*
- Monetary Expenditures: A comprehensive bike insurance plan will enable you to repair your bike without a sizable out-of-pocket expense if it is damaged in a flash flood or burned during riots. According to the terms and conditions of the policy, the insurance company will take care of the repair work.*
What Is Covered By A Two-Wheeled Insurance Policy?
The type of cover determines how much the two-wheeler insurance policy covers. Here is an overview of the coverage provided by various policy types:
- Third-party Liability Cover: The following insurance is available to the policyholder under a liability-only policy. The insurer handles legal matters resulting from third-party property damage or bodily injury by the terms and conditions. They provide the third party with monetary compensation.* Claims are subject to terms and conditions set forth under the two-wheeler insurance policy.
- Comprehensive Coverage: The following coverage is available to the policyholder under a comprehensive plan. Additionally, it addresses the issues raised in the section on third-party liability coverage.
- Loss Due To A Natural Disaster: Several regions in India are now more vulnerable to damage from calamities caused by nature, such as fire, cyclones, flash floods, etc.
- Loss As A Result Of Man-Made Calamity: In addition to natural disasters, there are also artificial disasters. The infrastructure of a city can sustain significant damage during a large-scale riot.
- Loss As A Result Of Theft: In rural areas and semi-urban and urban areas, bike theft is a possibility. An all-inclusive bike insurance policy protects the policyholder from bike theft.* Claims are subject to terms and conditions set forth under the two-wheeler insurance policy.
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Comprehensive Plan and Add-ons
You can also purchase a Comprehensive plan and appropriate add-ons to increase the coverage. The add-on will cost more; you can buy more than one add-on and pay each separately. The most popular bike insurance online add-ons are listed below.
- Zero Depreciation: The insurer will omit the depreciation calculation when resolving claims with this add-on. You will consequently get a bigger claims payout. *
- Pillion Rider Cover: This could be pillion rider accident Bajaj Allianz bike insurance. This kind of add-on is suitable if you frequently take a passenger on your motorcycle.*
- Invoice Protection: If you choose this Add-on, the insurer will reimburse you for the bike’s invoice value in case of a total loss. Otherwise, when settling total loss claims, the insurer takes the Insured Declared Value into account.*
- No Claim Bonus Insurance: You can file a claim and still qualify for the renewal concession known as the No Claim Bonus (NCB) if you have this Add-on by your side. The name NCB Protection refers to protecting your No Claim Bonus portion.* ## Claims are subject to terms and conditions set forth under the two-wheeler insurance policy.
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* Standard T&C Apply
## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply.
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
