There are mainly two types of bike insurance policies available in the market today, third-party bike insurance and comprehensive bike insurance. While a third-party insurance policy is the most basic and budget-friendly way to legally drive your bike, a comprehensive bike insurance policy provides wider insurance coverage in case of an accident.
The comprehensive insurance policy is highly recommended for people who use their bikes regularly or own a high-end two-wheeler. If you are also a regular rider and are wondering what exactly can comprehensive bike insurance cover, here’s the list –
- Vehicle damage due to natural disasters – Disastrous natural calamities like tsunamis, tornadoes or earthquakes are unpredictable and can prove to be financially and mentally disturbing events. While third-party insurance would not cover the vehicle damages in such events, a comprehensive cover would provide you with complete financial relief when it comes to fixing the vehicular damages that were caused by the natural calamity.
- Own bike damages in an accident – Paying to fix your own vehicle damages after an accident can turn out to be quite an expensive affair. Nonetheless, with a comprehensive bike insurance policy, you can conveniently hand over such a financial burden to the insurer and get your bike fixed without taking a hit on your pocket. It is important to keep in mind that this benefit cannot be availed in third-party insurance and can only be claimed by comprehensive insurance policyholders.
- Man-made disasters – If you happen to be a victim of a theft or robbery, a two-wheeler insurance company would cover your losses if you have bought a comprehensive insurance policy from them. You are also covered for other such man-caused disasters like a mishap in vehicle transportation, collisions and even against any malicious acts like riots that cause damage to your vehicle.
- Injuries to the rider – There is a high possibility of serious injuries when you get into an accident on a two-wheeler. Some insurance companies provide comprehensive insurance policies that have an in-built cover for the rider’s medical expenses and also provide compensation in the unfortunate event of permanent disabilities or death. Many insurance companies even provide separate insurance cover for the pillion rider. Nonetheless, even if personal accident coverage is not included in your insurance plan, you can conveniently get it added to your coverage by contacting the insurer or by going to their provided website.
- Third-party damages – With comprehensive insurance, you not only get covered for the damages of your own vehicle but even save yourself from the financial burden of having to pay for any damages that are incurred to the third party. Comprehensive insurance is the combination of third-party cover and an own damage cover.
You can conveniently get a comprehensive insurance cover when you opt to do your bike insurance renewal online or offline and avail of various add-ons that an insurance company provides. This would slightly increase your premium but it would also help you extend the policy’s coverage.
We hope this article clears all the doubts and questions that you might have with regards to a comprehensive bike insurance policy and that you are now fully equipped with the right information to make the correct decision. All the best!
