Bike Insurance

Bike Insurance

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What is Bike Insurance?

Bike insurance is a crucial agreement between bike owners and insurance companies, offering financial protection if the insured bike faces any potential losses or damages. As per the Motor Vehicle Act 1988, third party bike insurance is mandatory in India. Therefore, as a new bike owner, you must buy bike insurance online for up to 5 years within 60 seconds and avoid paying a hefty fine of ₹2,000. Bike insurance, also known as two-wheeler insurance, is a type of insurance policy that provides financial protection against various risks associated with owning and operating a motorcycle or scooter. It covers damages to the vehicle, theft, and liabilities arising from accidents involving third parties. In many countries, having at least a basic level of bike insurance is mandatory by law

Key Features & Benefits of Bike Insurance

Financial Protection

Covers the cost of repairs or replacement of the bike in case of accidents, theft, or natural calamities.

Reduces the financial burden on the owner.

Legal Compliance

Ensures compliance with the legal requirements for riding a motorcycle or scooter on public roads.

Avoids penalties and fines for non-compliance

Personal Accident Cover

Provides compensation for medical expenses, disabilities, or death resulting from an accident involving the insured bike.

Can be extended to cover the pillion rider.

Third-Party Liability Coverage

Protects against legal liabilities arising from injuries or damages caused to third parties.

Covers legal costs and compensation claims

Additional Benefits

No Claim Bonus (NCB): Rewards policyholders with a discount on premium for each claim-free year.

Cashless Claims: Allows for cashless repairs at network garages authorized by the insurer

Coverage and Premium

Evaluate the coverage options and choose a plan that suits your needs and budget.

Compare premiums from different insurers to get the best deal.