Proficient bike insurance is a must-have financial tool. Be it comprehensive or third-party insurance, it is very important to purchase from the best insurance provider in India. Also, according to the law of the land, it is mandatory to have a two-wheeler insurance third party if you are a bike owner. Driving a bike without insurance in India? Here are all the essential details you need to know if you are one of them!
What is bike insurance?
Bike insurance is an effective tool of emergency aid that provides financial coverage against any damage caused to your bike or the third party in any accidental situation. This insurance can have its features and inclusions, depending on the bike insurance provider and the plan you opt for. All you need to do is to pay a stipulated amount as a monthly premium and the rest will be taken care of by your insurance provider. So, you do not have to worry about any financial constraints during critical situations.
Why do you need bike insurance?
In times when you cannot assure anything, keeping up your guard is the best of all solutions. With increasing traffic and population, the rates of road accidents have elevated rapidly. As a result, it is a safe and the best solution to get insurance. In that insurance, you get the expenses of your bike damage and repair covered. Besides just these, you can also get the medical and other similar expenses of the third party covered, if you buy a two-wheeler insurance third party. But you must remember that a third-party insurance policy will not cover the damages done to your personal vehicle. If you want extensive cover, you may very well opt for comprehensive insurance.
Things that you can include in your insurance plan:
There are certain things that you can add to your existing insurance plan, without having to make any extra change in your two-wheeler insurance third party. These things are called add-ons. The add-ons are really helpful in the cases of some plans that don’t provide coverage for a few parts like engine, bonnet, consumables etc. or give an extra coverage for the ones existing. You can have those covers as a part of your existing bike insurance plan, by making an additional payment (by paying for them separately). These add-ons are generally purchased during the time of purchasing the insurance plan, but can also be done later. Some of the popular add-ons are Roadside Assistance, Engine Care Insurance, Zero Depreciation, Consumable Expenses and many more.
Bike insurance and government laws:
Motor insurance covers are not just bought out of concern for one’s safety, but also because the Indian government has made it compulsory. If someone is unable to purchase complete comprehensive bike insurance due to any acceptable and undeniable reason, he must at least buy two-wheeler insurance third party. Since it includes the coverage of the third party, it covers all the repair-related and medical expenses that are related to the third party. You don’t have to pay for them out of your own pocket and can rest assured. Also, it is quite a humane thing to do. It can provide financial assistance to people who accidentally get hurt by your vehicle. Driving without proper bike insurance is an offence in India. You will be fined Rs. 2000 and can also face imprisonment for up to 3 months.
There are all sorts of plans and schemes available in the market for the different needs of the customers. Since there are many plans for you to choose from, it might push you into a dilemma. Make sure you are selecting the most appropriate plan for your needs. If you buy a two-wheeler insurance third party that makes you pay for the things that you don’t even need, it is a complete waste of time and money.
Make a checklist to see that what you need is present in the plan you are purchasing. Also, do not buy plans that make you pay for unnecessary inclusions. These inclusions are not going to help you anywhere throughout the period of your plan. A good third party bike insurance or other bike insurance is the one that fulfills all your insurance coverage needs, without making you pay for anything extra.
Perks of having bike insurance:
Having bike insurance can relieve you of many stresses related to the safety of your bike. If you have insurance cover, you are prepared for any unprecedented and unbidden rise in expenses related to your vehicle. Also, it saves you from going through the last-moment hassle. It is difficult to manage and get a handsome amount of money ready at the hour of need sometimes. The best solution to all this is buying bike insurance. Also, you can cover the third-party and other legal liability expenses by buying a two-wheeler insurance third party.