Difference Between Comprehensive and Third-party Bike Insurance

Buying a bike for yourself or your loved ones is a huge investment and therefore, in order to keep your bike secure, it is best to have a bike insurance plan in place. In the current digital world, online third-party bike insurance, comprehensive bike insurance, add-on covers all are available with a single click on your mobile/computer screens. But how to decide which bike insurance to buy for maximum benefits based on your needs and budget?

Here is a detailed table on the differences between Third-party and Comprehensive Bike Insurance

	Comprehensive Bike Insurance	Third-party Bike Insurance
What does it mean?	Comprehensive bike insurance will provide coverage for both third-party liabilities and own damages, giving you a complete cover for all your needs.	Third-party bike insurance, as the name, suggests only covers third-party liabilities. Also, this is a mandatory cover that all vehicle owners must have under the Motor Vehicles Act, 1988
What does it cover?	Covers all your financial needs in case of damage caused due to an accident, riot, natural calamity, or fire. It covers damages to your bike as well as third-party losses.	The plan offers limited coverage, which is only posed towards third-party costs. Any damage to your own vehicle is not covered under the plan.
What add-ons can be availed?	Under this plan you can avail of different add-ons such as zero depreciation cover, return to invoice cover, engine protect, roadside assistance, etc. All you have to do is pay a small additional premium amount with your existing plan.	You can only avail of personal accident cover as an add-on benefit.
Which one should you buy?	In case you want complete protection for your finances and your bikes, you must avail a comprehensive cover.	You must go for a third-party insurance cover if you rarely ride your bike, and the risk of damage is low.

In case you want to buy any of the above plans with maximum benefits, you can visit the Bajaj Finserv website and get complete details of the same.

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