Get your bike insured in a simple and hassle-free way!
Bike insurance starting ₹482
Insuring your bike ensures that you stay on the right side of the law. Apart from that, an extensive insurance policy covers you financially against risks such as accidents, natural calamities, riots, and theft. Read ahead to get an overview of Third-party Liability Policy and a Comprehensive Policy.
|What does it mean?||Third-party two-wheeler insurance is a mandatory policy that takes care of the financial losses you suffer due to injuries caused to another person or damages to their vehicle or property. It is mandatory by law in India as per The Motor Vehicles Act, 1988.||Comprehensive two-wheeler insurance is a combination of Own Damage cover and Third-party Liability insurance. It offers financial support against all kinds of damages caused to your bike as well as another individual, vehicle, or property.|
|What does it cover?||It covers the damages caused to another vehicle, person or property due to accidents.||It covers third-party liabilities and theft. It also covers any damage to your vehicle due to accidents, vandalism, fire, malicious acts, sabotage, terrorism, civil disturbances like riots or natural calamities like floods, earthquakes, etc.|
|What does it not cover?||1. Damage caused to own vehicle, 2. Personal accident cover, 3. Damage caused when -Riding without a valid license, -Riding under the influence of drugs or alcohol, -The policy is not active||1. Damage caused due to -Normal wear and tear -Mechanical or electrical breakdown 2. Personal accident cover 3. Damage caused when -Riding without a valid license -Riding under the influence of drugs or alcohol -The policy is not active|
|What are the add-ons||Not applicable||Add-ons applicable are: Zero Depreciation Add-on, Bike Engine Protect, Outstation Emergency Add-one, Roadside Assistance Add-on, Personal Belongings - Damage/Theft, Key Protect|
|Which is less expensive?||Third-party bike insurance policy is less expensive. The insurance regulator, IRDAI, fixes the rates of third-party bike insurance policies.||The premium of a Comprehensive bike insurance policy has two components: The third-party premium (which is fixed by IRDAI) and the Own Damage premium. Considering the increase in coverage, its premium is higher than that of third-party insurance.|
|Which is better?||This policy offers limited coverage.||This policy offers extensive coverage.|
A Third-party bike insurance policy serves one major purpose - complying with the law of the land.
However, a Comprehensive bike insurance policy helps you take care of your own vehicle’s repair as well as third-party losses. It contains the mandatory ‘Third-party’ cover. It also comes handy in case of any damage or loss due to reasons other than an accident. For example, dents on your bike because of a tree falling on it, or damages caused by fire are also covered. Thus, a Comprehensive bike insurance policy is more useful than a basic Third-party insurance policy. However, the choice is with you. No matter which policy you choose, make sure to renew it in a timely manner to enjoy its benefits.
To buy Third Party Bike Insurance visit here.
Read informative Two Wheeler Insurance Articles at Acko.
ACKO General Insurance Limited
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