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Learn about the features of bike insurance policy and its coverage


Like many, you may love your bike and look for the right motor insurance, but getting third-wheeler motor insurance has been made into a mandate by the government of India. It is wise to purchase a bike insurance policy after comparing features of different types of two-wheeler insurance policies as it is necessary for your safety. 


You have mainly two options for Two Wheeler Insurance: a third-party and a comprehensive insurance plan. 

Features of third-party bike insurance plan


  • Law mandates buying third-party insurance for every vehicle owner in India. This policy offers limited coverage and is available at a minimal cost.


  • It is a liability cover against damage/loss towards the third party caused by your bike riding. It can be damage to the victim's vehicle or property, bodily injuries, or demise. 


  • The premium is based on the IRDA (Insurance Regulatory and Development Authority) guidelines.


Features of comprehensive bike insurance plan 


A comprehensive bike insurance policy is the preference of most vehicle owners. It comes with extensive coverage that can cover most unforeseen events. 


  • The policy combines third-party liability cover, personal accident cover of the bike owner, and cover for the bike from damages (own damage cover).


  • Personal accident cover: It covers the hospitalisation expenses of the insured bike owner if he meets with an accident. You can add on a cover for the co-passengers also. 


  • Third-party legal liability: If you meet with an accident and injure a third party or damage their vehicle or property, it will cover all such costs to be paid to the victim. 


  • Damage due to natural disasters: It covers the insured bike against any damage due to natural calamities like fire, explosion, self-ignition, flood, etc. 


  • Harm due to human incidents: The policy covers the insured bike against accidental damage, loss, or damage incurred from other human-caused incidents like riots and strikes.  


  • The insurance company calculates the premium based on numerous factors, including make and model, engine capacity, modifications, no claim bonus, and Insured Declared Value (IDV).


  • An insurance company allows you to add some beneficial covers to a comprehensive policy, like a zero-depreciation cover, outstation emergency cover, roadside assistance cover, key replacement cover, and others. 


You can choose the right bike insurance plan based on these features. 


Read More :- Factors that impact the bike insurance premium
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