To ensure long drives on your two wheeler is a convenient and carefree affair, securing your vehicle with a bike insurance is important to safeguard against physical damage, accidents, natural disasters, third-party liability and to protect yourself against other injuries.
The two main types of motor insurance are
1. Comprehensive policy- This type of motorcycle insurance offers personal accident cover to the owner or rider as well as covers damage to your vehicle and third party from accidents, thefts and other natural calamities.
2. Third Party Liability Insurance- Those who buy insurance for bike only to abide by the law generally opt for this insurance. This type of motorbike insurance does not provide adequate cover, covers only damages to third-party and their property without covering damage to you or your vehicle.
Features & Benefits
Below are some of the features & benefits of Bike Insurance
- Bike Insurance safeguards you, your bike or third-party against financial loss or damage from theft, accident or natural calamities
- The facility to buy and renew scooter insurance online makes the process quick and hassle-free
- Motorcycle Insurance safeguards against damages caused during man-made calamities such as riots, fire, terrorism, strikes, etc
- 'No Claim Bonus' on your bike insurance can be easily transfered to the new policy if you have not made any claims in preceding years
- Any legal costs related to death or injury to a person on account of accident are also covered under some of the best bike insurances
- Several insurers allow quick bike insurance renewal online without documentation
Following are usually included in a bike insurance
- Damages incurred to bike in an accident
- Personal accident cover
- Cover to vehicle against natural calamities such as fire, floods, earthquakes, etc.
- Loss or damage to bike from man made calamities like riots, strikes, fire, terrorism, theft, burglary etc.
- Third party legal liability provides protection against legal accountability in case of injury/death of a person and property damage
Following are usually excluded in two wheeler insurance
- Damages due to gradual wear & tear with time
- Loss or damage due to external aggression or nuclear strikes
- Loss or damage caused while driving vehicle under the influence of alcohol
- Loss or damage caused while driving your vehicle without a valid license
- Loss or damage caused while using vehicle outside the permit of law
- Damage due to mechanical/ electrical breakdown
- Depreciation or any consequential loss
Process of filing for a claim
- Contact your insurance provider at the earliest and file for your claim
- Lodge an FIR in case if your bike has been stolen or has met with an accident
- Get the damages to your vehicle evaluated by an authorized center in case of accident and submit these documents to your insurance provider
- Submit all the required documents to your insurance provider along with duly signed claim form
- Your claim will be verified and after approval, the claim amount will be reimbursed to your account
Documents required for filing of claim
- Completed & duly signed claim form
- Valid copy of your Insurance Policy
- Valid copy of Registration Certificate
- Valid copy of Motor Driving License
- Valid copy of FIR ( in cases of theft, third party damage, death or bodily injury)
- Valid receipts of your repair bills and other charges incurred