Bike insurance is not only mandatory but also a crucial part of owning a bike. Comprehensive bike insurance is the highest level of insurance that one can buy for their two-wheeler. It provides complete protection to the rider, the pillion rider, and the bike in case of an accident or mishap. Thus, below are some of the advantages of comprehensive bike insurance.
- Protection Against Natural Calamities: It covers the damage caused due to natural calamities like floods, earthquakes, landslides, etc. If your bike is damaged due to any of these reasons, the insurance company will bear the expenses of repairing your bike.
- Protection Against Theft: One of the significant advantages of comprehensive bike insurance is that it provides protection against theft. If your bike is stolen, the insurance company will compensate you for the loss. However, it is important to note that you need to file an FIR with the police and inform the insurance company immediately after the theft.
- Protection Against Accidents: It covers the damages caused due to accidents. It covers the cost of repairing the bike and also the medical expenses of the rider and pillion rider. If the accident results in the death of the rider, the insurance company provides compensation to the nominee.
- Coverage for Third-Party Liability: It also covers third-party liability. If you accidentally damage someone else’s property or cause bodily harm to a third person while riding your bike, the insurance company will bear the cost of compensation.
- Protection Against Legal Liabilities: It covers legal liabilities that arise due to accidents. It covers the cost of hiring a lawyer and other legal expenses in case of a lawsuit.
- Add-On Covers: It comes with several add-on covers that provide extra protection to the rider and bike. Some of the popular add-on covers include personal accident cover, zero depreciation cover, engine protection cover, etc.
- Affordable Premium: Contrary to popular belief, comprehensive bike insurance is not expensive. The premium for comprehensive bike insurance is affordable, and it provides complete protection to the rider and bike.
- Peace of Mind: It provides peace of mind to the rider. It assures the rider that they are protected in case of any mishap. The rider can ride their bike without any worry or stress.
- No-Claim Bonus: If the rider does not make any claim during the policy period, the insurance company offers a no-claim bonus. The no-claim bonus is a discount on the premium paid during the next policy period. The no-claim bonus can be as high as 50% of the premium.
- Easy Renewal: Renewing comprehensive bike insurance is easy and hassle-free. The insurance company sends reminders to the policyholder before the policy expiry date. The policyholder can renew the policy online or offline at their convenience.
Conclusion
Comprehensive bike insurance is a must-have for every bike owner. The advantages of comprehensive bike insurance outweigh the premium paid for it. It provides peace of mind, and protection against natural calamities, theft, accidents, legal liabilities, and third-party liabilities. It also comes with several add-on covers that provide extra protection to the rider and bike. Therefore, it is highly recommended that every bike owner should have comprehensive bike insurance.
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