Confused between Third Party and Comprehensive Bike Insurance? Let’s find out which one’s Better!


If you are into bikes, you should also know that you cannot take your vehicle out for a ride without having a bike insurance policy. However, while it is only mandatory for you to have a basic third-party insurance policy, there are many policyholders out there who opt for a comprehensive insurance policy.

Now, why would anyone want to pay more premium when it is not even mandatory?

To answer this question, we would have to dig deeper. Let us learn more about each of these policies and look at their differences.

 

Third-party bike insurance

A third-party bike insurance policy is the basic mandatory policy you need to have which covers injury/loss/damage caused to the third party. Basically, your third-party liabilities are taken care of by this insurance policy. For instance, if you are in an accident, your insurance policy would provide coverage for the losses of the third party. However, it would not cover the damages faced by you.

                                                              

Benefits of a third-party insurance policy

Helps you stay within the law

With this policy, you are in compliance with the law stating it mandatory for bikers to have third-party insurance.

 

Provides third-party liability cover

In case of any injuries or damaged faced by the third party, your policy will have you covered for the expenses.

 

Makes sure you do not get hefty fines

Your Two Wheeler Policy will save you from fines you would have to pay if you are caught without coverage while riding your bike.


Original Content -  Confused between Third Party and Comprehensive Bike Insurance? Let’s find out which one’s Better!

Comments

Post a Comment

Popular posts from this blog

5 Fabulous Two Wheeler Insurance Add-Ons You Probably Didnt Know You Need!

Image
As an avid biker, you probably already know the importance of having a two wheeler insurance policy for your vehicle. Apart from safeguarding you against the possibility of heavy expenses arising from a mishap, insurance also keeps you compliant with the law. After all, it is mandatory to have at least third-party motor insurance for your vehicle in order to be able to ply it on the roads here in the country. Now, if you want a bit more out of your coverage, you can always opt for a comprehensive bike insurance plan. True to its name, comprehensive bike insurance goes a step further to cover your own damages as well as third-party losses in an accident. You also receive coverage from a range of natural and man-made calamities. The best part about these comprehensive policies is that you can opt to enhance them with the help of riders. These riders are add-ons that give you more coverage at a slightly additional cost to your premi
Read more

4 Exclusions of a Commercial Vehicle Insurance Plan

Image
  It is very important for any business that makes use of commercial vehicles to get insurance. Road travel is the most accident-prone mode of transportation, and this is why a commercial vehicle insurance plan is a must. Without one, the business owner could incur heavy expenses in case one of their vehicles are part of a collision. But there are certain situations in which a Two Wheeler Insurance plan does not provide coverage for the damages caused. As a policyholder, you should be aware of these exclusions before buying any plan to avoid complications in the future. So, let us take a look at 4 of the most common exclusions of a commercial vehicle insurance plan: 1. Accidents caused while driving under the influence of drugs/alcohol. Motor insurance becomes invalid if the driver of your vehicle was under the influence of alcohol or any kind of drug. This seems to be fair because in such cases, it is the driver’s irresponsibility that has caused the accident. 2.   Daily wear
Read more

Give Your Sports Bike That Additional Protection With These 4 Bike Insurance Add-Ons

Image
Owning and riding a sports bike is no less than an adventure! Therefore, it is quite natural that those who own these bikes would want the best for their precious two-wheeled beasts! So, when it comes to insuring your bike against any unforeseen events, you would want the best bike insurance with comprehensive coverage. However, even the most comprehensive policy may not cover certain risks that your sports bike is prone to. Here, add-ons may be of immense help. But which add-ons are suitable for a sports bike? We answer this question in this article.                                                                                                       1. Zero Depreciation add-on Depreciation refers to the gradual decrease in the value of the vehicle as a result of daily wear and tear.  The older your sports bike gets, the more its depreciation increases. Generally, when you raise a claim on your two-wheeler insurance policy, the insurer takes into account the depreciation value
Read more