Bike insurance, or two-wheeler insurance, provides a cover to your vehicle against own damages and third-party liabilities, making it a necessary protection for your bike..
Unforeseen events such as theft, vandalism, and road accidents can cause substantial damage to your vehicle. With a two-wheeler insurance policy, you can ride with peace of mind, knowing that the insurer will cover the repair expenses for these incidents.
Moreover, riding a two-wheeler without third-party insurance is a punishable offense under the Motor Vehicles Act of 1988. Hence, it is essential to buy or renew your bike insurance if it is nearing expiry.
You have several options for bike insurance: comprehensive bike insurance, third-party bike insurance cover, and standalone own-damage cover.
However, to fully protect your vehicle, it is advisable to opt for comprehensive two-wheeler insurance.
You can enhance your comprehensive bike insurance policy by adding unique add-ons such as no-claim bonus protection, emergency roadside assistance, zero depreciation, and more. These add-ons allow you to customize your two-wheeler insurance policy to better suit your needs and provide additional protection.
Had an accident? Stay calm. The policy got you covered for any damages your bike sustains in an accident.
Calamities:
Calamities can wreak havoc, and your bike might not be immune to them, but your finances are protected! Rest assured, we’ve got you covered.
Third Party Liability:
Accidentally damaged third-party property or caused injury to someone? Don’t worry, policy cover damages to third-party property and injuries sustained by third parties.
Exclusion
Wear and Tear:
General wear and tear of spare parts, as well as depreciation in the value of your bike or scooter, are not covered under a bike insurance policy.
Electrical and Mechanical Breakdown:
Electrical or mechanical breakdowns, such as an engine seizing due to driver negligence, are not covered under a bike insurance policy.
Illegal Driving :
The policyholder cannot make a claim under a bike insurance policy if the insured vehicle is involved in an accident while the rider is driving without a valid license or under the influence of alcohol.
The Motor Vehicles Act, 1988, states that bike insurance is compulsory for all bike owners. If you fail to comply with this requirement, it will be considered a violation of the law, and you must pay fines and penalties.
Right Financial Decision
If you get insurance, you can be confident of having financial security and mental tranquillity because you are acting responsibly and morally. When you purchase and renew two-wheeler insurance on time, you protect yourself and your two-wheeler from unanticipated occurrences.
Covers Third Party Compensation
According to the law, you must pay for the loss a third party incurred if you caused the accident. Having insurance for bike will help you cover any expenses resulting from property damage, accidents, or fatalities. Consequently, you can give the victims prompt compensation.
Covers Repair Costs
In case you meet with an accident, you do not have to worry about unexpected additional expenditures. The insurance for bike will cover the repair costs to get your two-wheeler back in form.
Claim The Market Value
Purchasing comprehensive bike insurance can make you feel secure, knowing that it protects you from the possibility of bike theft or loss due to fire. The key is setting the IDV in a range close to the bike's estimated current market worth.
Compensation in Case of Disasters
A general misconception amongst bike owners is that you cannot file a claim if a natural calamity damages your bike. However, that is not the case. When a natural or man-made disaster such as floods, tsunamis, or quakes damages the bike, your insurance policy for bike comes to your aid.
With our two wheeler insurance policy you can safeguard your expense from bike damage due to unforeseen events like floods, earthquakes, fire, theft, riots, terrorism, etc. Bike comes with manual gear transmission, hence it is wise to choose own damage insurance or comprehensive insurance plan, where you can opt for add-on like engine and gearbox protector. Also, comprehensive insurance policy will provide complete coverage for your bike.
2. Scooter
Scooter are gearless two-wheeler, with our two wheeler insurance policy you can insure this type of vehicle. You will get coverage for losses due to man-made disasters and natural calamities.
3. E-bike
With our two wheeler insurance policy you can also insure your electric bike (Ebike). If you purchase bike insurance for your electric vehicle two-wheeler, it is wise to buy add on covers like protection for your battery charger and coverage for your electric motor.
4. Moped
It is advisable to insure mopeds, which are small motorcycles generally having cubic engine capacity less than 75cc. By insuring moped with HDFC ERGO two wheeler insurance policy the policyholder will get covered for accidental damages, man-made disasters and natural calamities.
