Some Useful Facts and Tips about Bike Insurance

As you obtain your two-wheeler insurance and start serious biking, it is equally important to acquire bike insurance as well. Bike insurance from a genuine company is not just a traffic norm but also a protection against uncertainty and mishap to the rider as well as the bike.

Firstly, it is vital to understand the need of holding a bike insurance.

Facts and Need for Bike Insurance

• Mandatory by Law According to law, anyone who is riding a bike on road has to hold a valid bike insurance. Bike insurance for bike owners is equally important as car insurance for car owners. Bike insurance online is very convenient where you can compare rates of top companies, pay premium and even renew your policy.
• Protection from Theft and Unprecedented Damage Bike insurance is automatic cover against any theft, burglary of the vehicle or damage from any natural disaster, or calamity and unforeseen events.
• Protection from Accident, Mishap It is virtually impossible to escape accidents altogether especially if it is due to someone else’s misjudgment, but you may as well be prepared for it. Bike insurance online offers compensation against accidents and minor mishaps on the road.

Tips before Buying Bike Insurance Online

You should take an informed decision of buying your bike insurance online policy because it has be the one that suits your needs the most. There are plenty of bike insurance policies offered by various companies which makes the choice all the more confusing. Your decision should be made after considering the following factors:

• Type of Vehicle This is the most important factor to consider before deciding on the bike insurance online policy. Specifications differ from model to model. The policy terms and even premiums vary depending on the make, type and model of the two-wheeler. Some insurance companies offer discounts and packages for specific models. You must see which policy covers your vehicle from any possible damage.
• Coverage Provided A standard bike insurance online plan must cover your losses occurring from any of the following:
  Fire, Earthquake, Flood, Hurricane, Storm, Cyclone, Burglary, Theft, Accident, Damage in transit, Riot/ Malicious act, and all other natural calamities.

What Personal Accident Cover Is Offered?

You have to check up to what amount is the driver or owner of the vehicle is covered for damage or injury and if it is reasonable in comparison with other plans’ offerings. You may also add family members to the policy for an additional premium. 

Is Third Party Liability Coverage Present?

Third party cover is mandatory provided by most bike insurance online policies. In case an accident causes permanent injury or death of a third party, the policy will cover those losses. In some cases even the loss to third-party property is covered.

Some other factors affecting the premium of your bike insurance online policy other than model are geographical location, age of vehicle, insured declared value and engine capacity.

Bikes and two-wheelers are susceptible to road accidents than four wheelers. Hence buying a comprehensive bike insurance policy online or otherwise is a worthwhile investment for the safety of the driver and the vehicle.