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Understanding Bike Insurance: Is Own Damage Coverage Mandatory?

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Owning a two-wheeler is normal in India, but it is also a great responsibility. Whether you are a seasoned driver or a new bike owner, our country’s Motor Vehicles Act mandates every bike owner to have third-party insurance. But when it comes to coverage, it doesn’t cover the damages incurred to your bike. This will cause a financial strain on you, won’t it? This is where the own damage cover comes into play. Whether own damage insurance for bike is mandatory creates confusion in many people’s minds. Let’s find out the answer.

What is the Own Damage Insurance Coverage?

It is not always necessary that during an accident, only you will be injured; something can also happen to your bike. Own damage insurance cover is a form of comprehensive bike insurance coverage that exclusively protects your insured two-wheeler in the event of loss or damage. Several natural and artificial causes, like accidents, natural disasters, rioting, vandalism, robbery, crashes, and so forth, are all possible causes of damage. Own damage coverage pays for the damage and gives financial aid for repairing or replacing your two-wheeler’s parts. Also, this coverage is quite comprehensive, as it allows you to choose whether you want to add any additional covers by paying a nominal premium.

Although, there are several exclusions like driving without a driver’s licence, drunk driving, third-party damage, mechanical damage, violation of laws, etc.

Is Own Damage Insurance for Bikes Mandatory?

There’s this popular notion that own damage insurance for bike is mandatory. But this is not correct. Although owning damage insurance is optional, this insurance policy can give cash assistance if your motorcycle is damaged. This benefit is not accessible with mandated third-party insurance covering third-party liabilities. Own damage insurance prevents you from bearing all the repairing costs of your bike.

Conclusion

Investing in bike insurance, is not only mandatory but also essential. But what’s more critical is investing in the right policy that offers security aid to you from all the unanticipated situations. Although optional, own damage insurance is highly recommended for the comprehensive safety of your bike so that you don’t have to worry about spending a penny in the repair process.

Disclaimer: The above information is for illustrative purposes only. For more details, please refer to the policy wordings and prospectus before concluding the sales.

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