Major Types Of Bike Insurance Plans You Must Know

As per the guidelines of the Motor Vehicles Act of India, it is mandatory to purchase an insurance policy to make a vehicle road-legal. Apart from being a mandate, it also provides the necessary financial coverage in the event of an accident to both the rider and the associated third party.

Insurance providers have curated different types of bike insurance policies to meet the different needs of owners. Here are some examples –

Third-party insurance plans

Third-party insurance plans are purposefully designed to safeguard a policyholder’s financial interest from any third-party liability during an accident. It covers the cost of damages to the other vehicle, property, or treatment costs of injuries sustained by involved individuals.

Damages to the vehicle only

There are specific two-wheeler insurance policies that only cover the costs of damage to the insured vehicle during an accident. The damages can be due to any man-made event or a natural calamity. Moreover, this policy does not include any coverage for the rider or owner.

Comprehensive policies

This variant of motor insurance policies provides coverage against an array of incidents. They include third-party liability coverage, as well as accidental coverage to the rider as well as the insured vehicle. Insurance plans like these cover almost every aspect, and they are mainly preferred owing to their extensive nature.

Moreover, if you buy from a renowned insurance provider, you can also opt for add-on riders to customize your plan. Here are some details –

Roadside assistance: In case of any malfunction with your vehicle, you can contact a roadside assistance service to resolve that issue.
Zero depreciation cover: It will not take into account the depreciation of your vehicle, and you will get full compensation in case of a claim.
Cover for keys: If you lose the keys of your motorcycle, you can get reimbursed for the cost of replacement.

Irrespective of the bike insurance policy you opt for, read policy terms beforehand to make a knowledgeable decision.

Comments

Quick Guide For Zero Depreciation In Car Insurance

Some parts of your car face wear-and-tear faster than the others and these parts are often referred to as depreciated parts. Once you file for an insurance claim, the insurance company deducts a value equal to the depreciated value of all such parts and does not settle your claim in full. The parts that are made up of rubber, plastic, fiber, etc. fall in this category. If you want to avoid this deduction from the final claim amount, you can avail of a zero depreciation car insurance cover. It is also known as nil depreciation cover as it nullifies the deduction from the claim amount due to the deprecated components of your vehicle. The benefits of a zero depreciation car insurance policy are stated below: Comes at a reasonable price If you have already purchased a comprehensive car insurance policy, you can avail of a zero depreciation car insurance cover at a nominal price. It is because it is an add-on insurance policy that only enhances your claim amount to reduce the part of ...

Necessary Information On Hospital Cash Insurance Plan

Medical treatments these days are a matter of the huge amount of money. And if you need quality treatment facility from the super-specialty hospitals and clinics you need a medical insurance plan for you and your family. If you are planning for the medical insurance plan with hospital cash cover , then be sure to consult with the best insurance plan provider. Let us discuss in details. Financial companies such as reputed NBFC Bajaj Finserv and other insurance companies have their own health insurance policies that range from smaller amounts of bigger amounts. All these medical policies fall under the pocket insurance policy scheme. It gives clients the facility to get benefits with minimum investments. The procedure is quick and does not require lengthy documentation. You can get a higher amount of money with such hospital cash insurance to continue medical treatments even for critical patients. Just make sure you read the policy details clearly before yo...

Stay Protected on the Road- Understanding the Importance of acko car insurance

Having a car insurance policy is essential for every car owner. It not only provides financial protection in case of any damage or loss but also ensures a safer driving experience. Acko is one of the leading car insurance providers in India, offering a wide range of insurance plans to suit the needs of all car owners. In this article, we will be discussing the importance of Acko car insurance in India and how it helps to stay protected on the road. We will also look at the various benefits and features of Acko car insurance policies that make them an ideal choice for car owners. Understanding the Importance of Acko new car insurance in India As the number of vehicles on Indian roads increases, so does the number of accidents and other related incidents. Traffic jams, road rage, and bad driving habits are some of the major causes of accidents. It is important for drivers to stay safe on the road, and to do so, they must have a car insurance policy. Acko new car insurance is one...

All Insurance News and Plans

Search This Blog