Bike Insurance

  Third-party insurance, also known as act-only insurance, offers the policyholder financial protection against damages or injuries that may be caused to the third party by the policyholder in case of an accident. When the policyholder makes a claim on their insurance policy, the insurance company sends over a professional to look at the damage caused and estimate the cost needed for the repairs. In a third-party insurance policy , the insurance company offers coverage for the damages caused in an accident by the insured to the third party and not the insured person.  Here is a list of what is included in your third party insurance policy: The physical injury occurred during an accident Damages to the vehicle Any damage to property caused during an accident  Accidents resulting in loss of life A list of what is not included in third party insurance: Any accident that was caused by driving under the influence  If the driver is un...

  For those who are not aware of the insurance laws – having a basic third-party two-wheeler insurance policy is mandatory for any rider before they can start riding their bike on Indian roads. This rule has been declared by the Motor Vehicles Act of 1988. Failing to adhere to this law would result in monetary fines and actual jail time. If you get into an accident without having insurance, you could face further legal complications. Let us understand why your bike insurance policy is so important: Importance of a bike insurance policy As we all are aware, accidents are unpredictable and can happen at any time and to anyone. This is why it is so important to be armed with a bike insurance policy to at least be financially covered in case of any injuries faced by you or the third party. Of course, your basic plan would only cover the third party. However, you can secure coverage for yourself with a comprehensive bike insurance plan. While only the former is mandatory, most policyh...

  As an avid biker, you probably already know the importance of having a two wheeler insurance policy for your vehicle. Apart from safeguarding you against the possibility of heavy expenses arising from a mishap, insurance also keeps you compliant with the law. After all, it is mandatory to have at least third-party motor insurance for your vehicle in order to be able to ply it on the roads here in the country. Now, if you want a bit more out of your coverage, you can always opt for a comprehensive bike insurance plan. True to its name, comprehensive bike insurance goes a step further to cover your own damages as well as third-party losses in an accident. You also receive coverage from a range of natural and man-made calamities. The best part about these comprehensive policies is that you can opt to enhance them with the help of riders. These riders are add-ons that give you more coverage at a slightly additional cost to your premium. In this article, we will list down 5 riders ...

  Relocating to a new city surely requires a lot of planning and hard work. However, amidst the number of tasks to do, there are a few small, yet important things that need to be taken care of when it comes to taking your two-wheeler along with you to the new city. Let’s take a look at 5 such things that you need to keep in mind with regards to your bike insurance. 1)       Update your existing address - The very first thing that needs to be taken care of when it comes to your two-wheeler insurance policy is the change of address in the insurance company’s records. This is an important thing to keep in mind as in a scenario where you need to make an insurance claim, having the old invalid address will disqualify you from receiving the insurance money. As a general rule of thumb, update your residential address before you begin the process of bringing the bike to the new city.   2)       Register your two-wheeler again - If yo...

  India has the highest number of two-wheelers in the world. It is the most affordable mode of transport for Indian families, especially middle class families. However, due to the high number of two-wheelers, there have been many accidents on the road. These are due to rash driving, overtaking, or driving in the wrong direction.   In a fast-paced world, it is natural for people wanting to cut time by taking shortcuts. However, such short-cuts can be harmful for others around you. This is why it is beneficial to have third-party bike insurance . We have listed below 4 reasons of why you should purchase it: 1.It is mandatory by the law: As per the Motor Vehicles Act of 1988, you need to have third-party bike insurance to be able to ride your bike on the road. Failure to do so could cause you to pay a hefty fine. Your bike could also get impounded by the authorities for not having a valid policy. Also, you should always carry a valid policy, and not an expired policy. 2.Third-par...

  There are mainly two types of bike insurance policies available in the market today, third-party bike insurance and comprehensive bike insurance. While a third-party insurance policy is the most basic and budget-friendly way to legally drive your bike, a comprehensive bike insurance policy provides wider insurance coverage in case of an accident.  The comprehensive insurance policy is highly recommended for people who use their bikes regularly or own a high-end two-wheeler. If you are also a regular rider and are wondering what exactly can comprehensive bike insurance cover, here’s the list -   1)   Vehicle damage due to natural disasters - Disastrous natural calamities like tsunamis, tornadoes or earthquakes are unpredictable and can prove to be financially and mentally disturbing events. While third-party insurance would not cover the vehicle damages in such events, a comprehensive cover would provide you with complete financial relief when it comes to fixing t...