Bike Insurance Guide: All you need to know

India is a country that has challenges involved in the littlest thing you do. This includes driving as well. There is hardly any city or town in the country that doesn’t have poorly maintained roads, traffic, or any one of the numerous challenges that make driving difficult. In such a country, bikes are a popular and smarter option for transport. Indians often buy bikes as a means of daily commute and as a hobby. This is especially true for highly populated cities where traffic is a regular issue.

Such a helpful tool in your life has to be protected. The best way to do that is through bike insurance. In addition to being a vital instrument that safeguards you and your bike, it is also a mandatory purchase for you to ride your bike legally. If you are caught riding without one, you will be a charged a hefty fine and might face other penalties as well. But, before you buy a bike insurance policy, you should know everything there is to know about the product and the purchase. You can buy insurance for bike from the bike insurance app easily.

Purchasing bike insurance in India

When any person buys a bike in India, they tend to get a basic liability coverage policy. While this ends up being a cheaper option, it also means that they end up choosing to not pay much attention to coverage for their own vehicle. Moreover, it means that they avoid refining their coverage by getting better prices and looking into other options. Doing so keeps them from numerous benefits and savings that bike insurance can offer them.

Having a lot of options means that it becomes harder to make the right decision. With numerous insurance providers offering countless coverage options, making the correct choice can be overwhelming for you. Hence, you need to refine your search. Set an idea of the kind of coverage you want and then compare insurance plans. After thorough comparison, you can look for ways to buy the policy at an affordable price.

Types of bike insurance

The center of buying bike insurance is to know the type of coverage you need. Knowing the type of bike insurance you will buy is a right step in that direction. The types of bike insurance policies differ on the basis who they cover and how they cover. These types are:

  • Third-party insurance

It is the minimum amount of insurance coverage that you need to have for your bike. Without it, you are not allowed to ride your bike on the road. Moreover, it is the most basic coverage available. It is called third-party bike insurance because it focuses more on the damages or loss caused to a third-party in an accident.

In the case of an accident, not only do you take damage to your bike, but you also put the other person involved at risk. This risk can be of physical injury or property damage. In this situation, you are liable to pay a compensation for their damages or loss. Moreover, if the third-party decides to press charges in court, you would also be liable to cover legal expenses. The third-party insurance policy covers these costs and liabilities on your behalf. However, it does cover the cost of repairing damages to your own vehicle.

  • Comprehensive insurance

The policy gets its name by offering a holistic approach to bike insurance coverage. It truly offers comprehensive coverage to your bike. Firstly, it covers all the liabilities that may arise out of an accident. This means it includes the coverage of a third-party policy and gives you peace-of-mind against any compensation or legal expenses.

Adding to the third-party coverage, a comprehensive policy will also give you coverage for the damages to your own bike. This way, you don’t have to worry about the financial cost of an accident. Once, you get into an accident, all you have to do is contact the insurance provider and claim funds to repair your bike.