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However, there are some individuals out there who are well-versed with the wordings and workings of a bike insurance plan.
Do you consider yourself as one of these individuals?
Well, let’s put your knowledge to the test – see if you know the answers to these simple questions about bike insurance.
They include standalone own damage cover, which of course will need to be bundled with a single-year or long-term third party insurance policy.
So all-in-all, you have 4 options.You could opt 1 year of third party cover, or 1 year of comprehensive cover, or 1 year of own-damage cover bundled with one year of third party cover or 1 year of own damage bundled with 5 years of third party cover.
However, in reality, everything from the types of plan, the cubic capacity of the bike, your riding & claim record, where you live, the add-ons you select (if any), gaps in cover, whether you have installed anti-theft devices, etc.
Two-wheeler insurance basically keeps your bike protected against unforeseen damages.
Not in those words, but it actually provides you with financial compensation in case your two wheeler vehicle is damaged as a result of an accident or even if it gets stolen.
Depending on the type of two-wheeler insurance plan you choose to purchase, you will be availing of the coverage.
Whatever you do, you must make sure that you renew your two-wheeler with at least the legally mandatory third-party policy to become eligible to ride it on the Indian roads.
Apart from the two types of motor insurance plans, you may choose to extend the coverage of your bike insurance policy by opting for add-on covers as per your requirements.
Note that you will have to pay an additional premium to avail of the benefits add-on covers.
