Bike Insurance

  Getting your first bike insurance can be quite a confusing task if you do not have the right information. Due to this, a lot of questions and doubts may arise in your mind that can leave you perplexed and in a dilemma about your next step.   However, to help you understand the world of insurance better, here are 5 FAQs about two-wheeler insurances and their answers - 1)       How many types of bike insurances are there and what are they? - There mainly 2 types of bike insurance policies available in the market today, comprehensive bike insurance and third-party bike insurance. While having at least a valid third-party bike insurance policy is mandatory to drive your two-wheeler legally, getting a comprehensive bike insurance policy gives you wider coverage in case of an accident. 2)       What is covered in the two types of bike insurance policies? - The third-party insurance for bike insurance covers you against the damages...

  If you are about to renew your bike insurance policy for the first time, you may need a bit of guidance. In this article, we list down the different methods of two-wheeler insurance renewal to help you out. No matter which insurance company you go to, the process usually is standard throughout. Let’s take a look - Two-wheeler insurance renewal You can opt to renew your two wheeler insurance in one of the following two ways: Offline This is the traditional method of renewing your bike insurance policy wherein you would have to visit the insurance company’s office and talk to one of the insurer’s executives about their insurance plans. You then pay a premium upon which they would hand over a printout of your renewed policy documents and your payment receipt. However, you can also renew your two-wheeler insurance policy by getting in touch with an: 1.     Insurance agent An insurance agent is trained and licensed to help out with any queries that you might have as a...

  You might have heard friends and fellow riders tell you to always renew bike insurance on time. And, they are right! Allowing your coverage to lapse can prove to be detrimental in more ways than one. In this article, we take a look at a few reasons why it makes sense to always renew your bike insurance plan on time. 1.     You stay covered against financial losses This is definitely the biggest benefit from renewing your two wheeler insurance plan on time. When your plan stays active, you can ride knowing you are protected against the unforeseen. While a third party insurance plan covers you against third party liabilities, a comprehensive plan goes further to cover you against own damages, third party liabilities, natural disasters, and manmade calamities. You can also enhance the protection your vehicle receives by opting for add-ons like engine protection cover and zero depreciation cover. If you do not have an active bike insurance plan, you expose yoursel...

  Flooding during the monsoons is a major problem that worries most vehicle owners in India. As a bike insurance policy holder, it is natural for you to wonder whether your insurer also covers you against vehicle damage due to heavy rains. After all, that kind of damage can result in losses that could potentially burn a hole in your savings. In this article, we will take a look at what you need to know about the coverage you can expect if you bike undergoes damage due to flooding. Comprehensive bike insurance coverage for coverage against flooding Two-wheeler insurance policies for bikes and scooters are broadly divided into two main categories – third-party insurance and comprehensive insurance. As suggested by the name, third-party insurance only covers you for legal and financial liabilities towards the third-party during an accident. This means if you want own damages to be covered, you need to have comprehensive coverage. Comprehensive bike insurance covers you for third-par...

  It can be quite confusing to understand the various terminologies that you come across when buying bike insurance online . One such term that you might not understand is IDV. However, knowledge is power and to acquire the power of being completely financially stress-free in the event of an accident, getting to know your IDV is very important.   So, what exactly is IDV? An Insured Declared Value, or IDV, is essentially the market value for your bike in the eyes of the insurer. This is the maximum amount of money you can receive from the insurance company if your bike gets completely damaged in an accident or gets stolen. It is important to keep in mind that your IDV is directly related to the age of your vehicle and the older your bike is, the lesser insured declared value an insurer provides.   But why is IDV important? Understanding the IDV is very important as it is directly proportional to the premium you pay for your two-wheeler insurance policy. It is re...