A quick zoom (guide) through motorbike insurance
Motorbike
insurance can seem a little complex, especially if you’ve never dabbled with
insurance before. There are quite a few jargons and terms that can seem
confusing. What makes matters worse is that it is compulsory to buy a plan if
you want to ride your bike on the road. The combination of confusion &
compulsion can lead to poor decisions & a waste of money as well. With this
in mind, the following article will attempt to shed light on the basics of 2 wheeler insurance. Hopefully, it will
reduce the number of confused purchase decisions.
There are 2 types of bike insurance.
They are third-party & comprehensive. Third-party plans are the most basic form of insurance you can buy for you two-wheeler. They only provide protection to others that are involved in the same accident as you. These plans do not pay for repairs needed for your own vehicle neither do they provide any compensation in case of total loss of the vehicle. The only cover they provide to you is in case of total permanent disability – in which case most plans will provide up to 15 lakhs in compensation.
What about comprehensive plans?
They offer third-party protection and also pay for your repair costs, plus they also provide compensation in case of total loss or theft. These plans also cover damages & total loss due to natural and man-made calamities. Comprehensive plans also come with optional add-ons that can be included to the base plan to improve the overall protection – for instance, you can get cover for pillion riders, no claim bonus, etc.
Single-year & long-term plans.
With both third-party & comprehensive motorbike insurance, you have the option to purchase a single year of cover for go for long-term cover. Long-term plans usually provide up to 5 years of cover at one go. Most experts suggest long term plans because you get multiple years of protection at today’s rates – this safeguards you from potential price hikes in the future.
How much does motorbike insurance cost?
Compared to car insurance, two wheeler insurance costs much less. Third party plans, as they are the most basic form of insurance, are extremely affordable. The premium shouldn’t be more than Rs. 1,500 for a 150cc bike. This includes the Rs. 750 premium amount for personal accident cover. Comprehensive plans usually cost more, you can get a better idea of such plan by applying for quotations online – the premium will depend on the make & model of your bike, where you live, the add-ons you select, etc.
Where should you buy a plan?
The best option is to purchase two wheeler insurance online. It is the most convenient, quick & cost-effective way to buy motorbike insurance. The process can be completed from your home or office or even while you are on the move. The premiums are also quite less as compared to offline plans. You can also get quotations instantly and compare plans thoroughly.
Hope this has been helpful, good luck and all the best!
There are 2 types of bike insurance.
They are third-party & comprehensive. Third-party plans are the most basic form of insurance you can buy for you two-wheeler. They only provide protection to others that are involved in the same accident as you. These plans do not pay for repairs needed for your own vehicle neither do they provide any compensation in case of total loss of the vehicle. The only cover they provide to you is in case of total permanent disability – in which case most plans will provide up to 15 lakhs in compensation.
What about comprehensive plans?
They offer third-party protection and also pay for your repair costs, plus they also provide compensation in case of total loss or theft. These plans also cover damages & total loss due to natural and man-made calamities. Comprehensive plans also come with optional add-ons that can be included to the base plan to improve the overall protection – for instance, you can get cover for pillion riders, no claim bonus, etc.
Single-year & long-term plans.
With both third-party & comprehensive motorbike insurance, you have the option to purchase a single year of cover for go for long-term cover. Long-term plans usually provide up to 5 years of cover at one go. Most experts suggest long term plans because you get multiple years of protection at today’s rates – this safeguards you from potential price hikes in the future.
How much does motorbike insurance cost?
Compared to car insurance, two wheeler insurance costs much less. Third party plans, as they are the most basic form of insurance, are extremely affordable. The premium shouldn’t be more than Rs. 1,500 for a 150cc bike. This includes the Rs. 750 premium amount for personal accident cover. Comprehensive plans usually cost more, you can get a better idea of such plan by applying for quotations online – the premium will depend on the make & model of your bike, where you live, the add-ons you select, etc.
Where should you buy a plan?
The best option is to purchase two wheeler insurance online. It is the most convenient, quick & cost-effective way to buy motorbike insurance. The process can be completed from your home or office or even while you are on the move. The premiums are also quite less as compared to offline plans. You can also get quotations instantly and compare plans thoroughly.
Hope this has been helpful, good luck and all the best!
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