Two Wheeler Bike Insurance 333 views August 8, 2019

What Is Covered Under Your Two Wheeler Insurance Policy in India

Two Wheeler Insurance Policy Coverage in India- 2019

Two wheeler insurance is available in two different categories in India. The two categories are the third party cover and the comprehensive cover. You get different types of insurance coverage under the different categories of vehicle insurance. Take a look at this article to know more.

What is Covered Under a Third Party Cover?

Let us begin by understanding the third party liability cover in vehicle insurance. A third party cover is legally mandatory for every bike owner to have. These plans are very straightforward and are much less expensive as well. You get the following covers under a third party bike insurance plan:-

Third party physical injuries

Let us assume you get into a bike accident and the fault is entirely yours. The accident leaves the third party gravely injured. It is then your responsibility to pay for all the medical expenses. Do you realize how badly the bills will drain your savings? This is why you need to get a third party 2 Two Wheeler Bike Insurance cover. Your insurance provider will pay the third party on your behalf. 

Third party property damage

If you happen to bump into another vehicle or the gate of a building or damage any third party property, you have to compensate for the damages. This is covered under a third party bike insurance plan and is one of the most useful coverages. 

Legal costs

You also get a legal cover under a third party motor vehicle insurance plan. So if a third party takes you to court over any matter related to the road accident, you get compensated for the legal costs. 

Personal accident insurance cover

If anything happens to you in a road accident, the insurance company pays a sum assured to your nominees. This personal accident insurance cover is an integral part of the third party liability cover.

As you can see, the third party vehicle insurance plans do not offer any cover for yourself or your own vehicle. For that, you require a comprehensive bike insurance plan.

What is Covered Under a Comprehensive Cover?

You get all the covers of a third party vehicle insurance plan. In addition, you get insurance coverage for your own vehicle and also for yourself. Let us discuss this in detail:-

Compensation for own vehicle

If your bike or scooter is damaged in a road accident, you can make a claim and have it honored. This is possible when you have a comprehensive vehicle insurance coverage with you. 

Theft cover

If your bike is stolen and the police aren’t able to recover it, you can make a claim. The insurance provider will calculate the IDV of the bike and hand over the current market price of the vehicle as compensation. You can get a replacement bike with the money you get as the insurance claim amount. You can get full compensation even when your bike is damaged in a situation like a fire. If the damage is so bad that the bike cannot be repaired, you will get the full amount as the claim. 

Cover against natural calamities

A comprehensive bike insurance plan also offers protection against natural calamities. If your bike is damaged due to an earthquake or a cyclone, you can raise an insurance claim and get compensated for the damages.

Cover against man-made disasters

If your bike is damaged badly in a riot or due to any other man-made disaster, you can make an insurance claim on your comprehensive motor vehicle insurance policy. This is one of the main covers offered under such a type of motor insurance.

Health insurance cover

Many a time, road accidents lead to severe injuries. Most of it is so bad that you require hospitalization. When you have a comprehensive motorcycle insurance cover, you get health insurance coverage as well. This is very useful as the healthcare costs are sky-high these days and monetary help from your motor insurance provider comes in very handy.

Option to add riders

And finally, you get the option to attach a few riders to your comprehensive bike insurance policy. Riders offer an added cover and you can customize your motor insurance policy with the help of these riders. Look for some good riders such as the zero depreciation rider, the roadside assistance rider, the pillion protection rider, etc.

The Final Word About What Is Covered Under Your Two Wheeler Insurance in India

As you can clearly see from the points mentioned above, the scope of coverage in both the forms of motor vehicle insurance is varied. You, therefore, need to understand the covers and then weigh them against your requirements. Once you do that, you will be in a better position to choose the ideal insurance coverage for your two-wheelers. Buy the plan and stay covered in an affordable yet wholesome manner.