Motorbikes are popular two-wheeler vehicles that provide people with affordable and comfortable means of transportation. They take up far less space in comparison to cars and are easy to handle on busy roads. While there are several merits associated with owning a bike, an important aspect of this ownership involves owning a valid bike insurance policy to complement the vehicle in question.
The importance of owning a valid bike insurance plan lies in the fact that it provides policyholders with coverage in the event that their motorbike is damaged in an accident or natural disaster. It also provides coverage in case of theft or vandalism of a motorbike. By virtue of owning valid bike insurance, motorbike owners need not fret about having to pay out-of-pocket for these damages that their motorbike might sustain. This is because the bike insurance premium helps cover the costs associated with their two-wheeler’s damage.
In India, the Motor Vehicle Act of 1988 reiterates the importance of bike insurance as it requires all bike owners to possess valid bike insurance for their motorbikes. This Act makes clear that third party liability bike insurance is necessary and that even the most basic forms of bike insurance plans must provide this form of coverage.
Owing to the fact that there exist several different bike insurance plans in the market, it is recommended that you compare these different plans online to shortlist the right policy for your motorbike. It is easy to compare plans across several different categories online as more information is available. These comparisons help you to determine the best bike insurance available which provides you with the maximum benefits for the minimum price. Take a look at some of the key factors associated with comparing different bike insurance plans.
Comparing bike insurance plans is probably the best way to shortlist the right policy for your bike. In a large perspective, bike insurance policies with HDFC ERGO are divided into two broad prospects, comprehensive cover and third party liability. Let’s understand the benefits offered by both these policies to pick the right cover for your bike.
Comprehensive(Single year) | Multi year two wheeler insurance | Third Party (Liability Only) | |
---|---|---|---|
Bike Insurance for Accidental Damage | |||
Bike Insurance for Theft | |||
Bike Insurance for Damage due to fire | |||
Bike Insurance for Damage due to natural disaster | |||
Personal Accident cover | |||
Bike Insurance for Damage to a third-party vehicle | |||
Bike Insurance for Injury to a third-party person | |||
Zero Depreciation cover for two wheeler insurance | Optional Add-on | ||
Emergency assistance cover | Optional Add-on |
When you begin to compare different bike insurance policies with one another, there are a number of important factors that come into play, and which ought to be considered. Some of the more pertinent of these have been examined below.