Third Party vs Comprehensive Bike Insurance: Let’s find out which one’s better

 

If you are into bikes, you should also know that you cannot take your vehicle out for a ride without having a bike insurance policy. However, while it is only mandatory for you to have a basic third-party insurance policy, there are many policyholders out there who opt for a comprehensive insurance policy.

Now, why would anyone want to pay more premium when it is not even mandatory?

To answer this question, we would have to dig deeper. Let us learn more about each of these policies and look at their differences.

Third-party bike insurance

A third-party bike insurance policy is the basic mandatory policy you need to have which covers injury/loss/damage caused to the third party. Basically, your third-party liabilities are taken care of by this insurance policy. For instance, if you are in an accident, your insurance policy would provide coverage for the losses of the third party. However, it would not cover the damages faced by you.

Benefits of a third-party insurance policy

Helps you stay within the law

With this policy, you are in compliance with the law stating it mandatory for bikers to have third-party insurance.

Provides third-party liability cover

In case of any injuries or damaged faced by the third party, your policy will have you covered for the expenses.

Makes sure you do not get hefty fines

Your third-party insurance will save you from fines you would have to pay if you are caught without coverage while riding your bike.

Comprehensive bike insurance

A comprehensive bike insurance policy provides both third-party as well as own damage coverage. The reason why so many policyholders choose to go for a comprehensive bike insurance plan is that if their own bikes are not covered, they could incur huge losses. The enhanced coverage from comprehensive insurance proves to be a great option for financial security. The best part about this two-wheeler insurance plan is that you can include add-ons to it. For instance, you can choose to add a Roadside Assistance cover to your plan and get immediate assistance in case your vehicle faces a breakdown. 






Original Content :- Third Party vs Comprehensive Bike Insurance: Let’sfind out which one’s better

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