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5 Myths about Motorcycle Insurance without Work

Published on August 8, 2020. EST READ TIME: 5 MIN

Riding motorcycles is both a passion and a necessity. On our crowded streets, a motorcycle is very often the quickest way to get from point A to point B. It is also considered to be a young adult’s first assertion of independence. But as the old adage goes, “with great power comes great responsibility.” In the case of biking, motorcycle insurance is that very same responsibility. However, many riders have misconceptions about the need for insurance and these misconceptions have led to myths. Let’s debunk 5 of the most persistent myths about motorcycle insurance.

1. Motorcycle insurance is expensive and unnecessary

Just like protecting yourself with safety equipment like helmets is mandatory, so is motorcycle insurance. In your day to day commute, the chances of accidents are always prevalent. Just because you are a careful rider, does not guarantee your safety. Motorcycle insurance is a necessary and often overlooked facet of riding. About it being expensive, depending upon the year, make, model and market value of your bike, the insurance premiums are calculated and can range from just above Rs. 1000 or more. But really is there a premium that you can place on your life and property?

2. My bike is safe from all possible eventualities

Life is unpredictable and danger lurks around every turn. While you may be a safe rider and park in a well-protected building compound; there are more threats to your bike. Natural calamities like flooding in the rains, damage from fire and earthquakes, etc. are NOT under your control. Here’s where a comprehensive motorcycle insurance can help you rest assured. You may be in control when on the road, but off it too you need security and peace of mind, which only motorcycle insurance can provide.

3. Getting motorcycle insurance is time consuming and the paper trail is exhausting

Insurance has this weird reputation of being time-consuming and document-heavy. In the 21st century when everything is online, the same just isn’t true anymore. Most insurance providers have secure portals on which all insurance-related ‘paperwork’ can be handled in a few minutes with the most minimum amount of fuss. Getting an insurance is worth the few minutes you invest in completing the simple formalities as it gives you an extra layer of protection, from accidental death, vehicular damage, compensation to third party liability and so many other unforeseen eventualities.

4. Motorcycle insurance kicks in only after an accident, what other benefits are there?

Motorcycle insurance does much more than just safeguard your interests after an accident. There are several add-ons like emergency assistance cover, which provides roadside assistance in case of emergencies or breakdowns. It may (depending on the insurer) cover minor repairs on site, lost key assistance, duplicate key issue, tyre changes, battery jump starts, fuel tank emptying and towing charges. As with any owned asset, depreciation or loss in value is given, but zero depreciation add-on in your insurance can help you claim the entire value of your bike (when you purchased it). So you see even if accidents don’t happen, having protection is a very wise decision.

5. Only third party cover in motorcycle insurance is enough

While third party cover is of great importance, it is recommended you have comprehensive motorcycle insurance. This stems from two factors. First, while third party cover insures you from medical and damages caused in an accident to the third party, it does nothing for the damage caused to you or your motorcycle. Second, comprehensive motorcycle insurance covers several critical problems you may face from non-accidental situations, like theft, breakdowns and even depreciation. 

We hope this article has helped dispel the doubts you may have had about motorcycle insurance. We are always here for you, and advise that you buy it today. Until next time, happy motoring.

Mukesh Kumar | Motor Insurance Expert | 36+ years of experience in insurance industry

A veteran in the insurance industry, Mukesh Kumar has the expertise of handling various functions like Business Development, Underwriting, Claims, Human Resources, Quality Management and Marketing. With rich knowledge of the industry, he loves to share his views on topics of insurance sector and takes special interest in educating people on advantages of having insurance.

Mr. Mukesh Kumarrecommends "getting your two wheeler insured from HDFC ERGO, a brand serving more than 1 crore+ customers. With overnight repair services and more than 6,800+ network garages, you can be assured of help in event of any damage to your vehicle

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