If you are a committed biker or you own a two-wheeler and you are longing to be in the game for a long time. Getting bike insurance is one of the surest ways to ensure that you have both you and your bike covered. Besides keeping you covered, two-wheeler insurance also gives you peace of mind. In addition, it helps avoid unexpected expenses. If you would like to purchase this insurance plan, read through this article for an in-depth review of the plan.
What is Bike Insurance?
Bike insurance also known as two-wheeler insurance is a legal insurance company and the bike owner. In this case, the insurance company makes a promise to the insured to adequately provide coverage for all financial liabilities that may occur as a tragedy or during an accident that involves the insured’s bike. A bike insurance policy can provide all the coverage needed for all the types of bile such as Scooters, Motorcycles, bikes, etc.
What Are The Types Of Bike Insurance?
There are different types of bike insurance that are offered to the insured and it all depends on what the insurance company has to offer to its users. You can learn more when you work with a selected insurance company. Still, these are some of the types of bike coverage:
Comprehensive bike insurance is an insurance policy that offers complete coverage by aiding to pay for your financial liabilities. These are financial liabilities that you might experience towards a third party as they will handle the issue. Furthermore, the insurance company also provides compensation for the expenses that arise due to any injuries you might get on your own bike.
In addition, this insurance policy protects your bike against any damage that it might incur in an accident, natural disasters, man-made disasters, explosions, theft, fire, and more. You can also do more by ensuring you pay for more premiums to be able to purchase more coverage like roadside assistance, engine cover, etc.
Own Damage Bike Insurance
This is standalone bike insurance that has a policy that gives coverage for the damages that are sustained by the insured due to a number of reasons. These reasons include tragic issues like man-made disasters, theft, fire, natural disaster, accident, and more. Furthermore, an Own damage policy easily the flexibility to the policyholders to select the insurance company of their choice.
With this in motion, the policyholders can easily purchase a third-party policy as well as their own damage policy. They can purchase this from either the same insurer or you can do this through a different one. Meanwhile, insured individuals can easily expand the coverage of their own damage insurance policy by simply buying more coverage.
The third-party bike insurance plan also known as a liability-only policy is an insurance requirement that has been made mandatory. This is an insurance policy that covers temporary or permanent disability, and bodily injuries.
Or even worse, death to a third party person due to an accident with the insured’s bike. This is a rule that is however mandatory in the country India. As mentioned before, it all depends on what your insurance company offers to you.
Benefits of Buying a Two-Wheeler Insurance
It is good advice that you need to constantly renew your bike insurance policy. This is because failure to do so results in it lapsing and becoming invalid. Furthermore, these are some of the best benefits that bike insurance offers to the insured:
- Purchasing a bike insurance plan easily helps you to compare two different two-wheeler plans. And this is in terms of the company’s exclusion, features, and so on.
- Applying for the bike policy makes it so much easier to just make the application process easier and done with.
- You can get a quote from the comfort of your home. it saves you time and cancels less paperwork.
- In addition, when you are purchasing two bike insurance, you side-track the routine of paying an extra fee to the insurance agent.
Where Can I Purchase Bike Insurance From?
The best option for purchasing a two-wheeler plan is getting one from a two-wheeler Insurance company that’s reliable. Some of the best two-wheeler coverage companies include Bikmo, Velosure, Pedalsure, Laka, Yellow Jersey, and Wiggle Insurance.
How to Choose a Bike Insurance Policy?
It is highly recommended you do a lot of research before you venture further into getting a bike insurance policy. Still, the insurance company you select can help you out more if you need more understanding. Furthermore, these are the things you need to do in order to choose a bike policy:
Know the requirements of your coverage
You need to know what your budget is to enable you to choose between the different types of bike insurance plans that best suits you. Moreover, when you are accessing your requirement, it is important to consider various factors such as your liabilities, your expenditures, how you use your bike, etc.
Select the Add-ons Wisely
If you want to improve the coverage of your bike policy, selecting Add-ons is pretty important. However, if you are to select add-ons, it is important you select wisely. Selecting add-ons is actually easier than signing up for an extra premium. These add-ons cover includes towing cover, zero depreciation cover, personal accident cover, etc.
Choose a Company That Is Reliable
Before you fully go into getting a bike policy, you have to make sure that the coverage company you will be purchasing from is highly reliable. In addition, what you can do is check the claim settlement ratio to ensure that there is no hassle.
Comparing Two Bike Policy Plan Online
It is highly recommendable to compare the insurance policies to make the best decision that suits you. Besides, all you have to do Is do more research, and gather the various insurance plan from different companies, their premiums, etc. Once all of that is completed, you can do the comparison to make your choice.
Read the Online Reviews
If you read through the reviews of other customers, you will be able to tell if this is the right insurance company for you or not. So, when you are going through the company’s reviews, read delicately through the negative and the positive reviews.