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While celebrating the purchase of your dream bike, just keep in mind that the victory is incomplete unless the bike is insured. Not insuring the bike not only invites risks, but are also increasing one’s financial burden. Since the exposure to theft, accident and mishap is higher, it’s always recommended to get the bike insured even before taking it out for the first drive. A fixed premium for the insurance policy will provide coverage against all susceptible risks. Without an insurance cover, you’ll not only put a dent to your hard earned money but will also be risking your life. So, scroll on to the various options online on websites such as Coverfox.com and choose the best bike insurance online.
Covers offered under bike insurance online
While on the lookout for the best bike insurance online, one must remember that there are generally two types of bike insurance policies: (1) comprehensive policies which basically provide coverage against own damage of the bike and (2) liability based policies that cover the bike against injuries that occur because of your actions to the third-party and their property. Apart from these, one shouldn’t overlook the following before buying the best bike insurance online.
- Coverage against man-made and natural calamities
A standard two-wheeler life insurance plan will cover the bike against fire, hurricane, theft, burglary, landslide accident and various other calamities. Even if the accident occurs by external means, one has the right to claim for the coverage amount.
- Third-party facility
The government of India has made it a mandatory cover. This insurance policy is offered against legal liability that occurs during an accident in which the owner dies or suffers permanent injury. In simple terms, this plan covers the damage to another’s property. Since this is crucial for one’s safety, one shouldn’t overlook this.
- Personal accident cover
This is the most crucial bike cover which one should definitely consider if one owns a bike. Under this plan, the insurance company offers coverage up to a certain amount and the best part about this is that if one meets with any accident, one will be covered under this plan. Whether dismounting from the vehicle or travelling to new destinations one will always feel secure. Apart from this, one can also get additional cover for co-passengers, if one applies for an additional premium.
Benefits of comprehensive bike insurance
Comprehensive bike insurance helps in getting full coverage for yourself and your bike. It provides coverage to the bike against theft and loss. This insurance plan also provides personal accidental cover in case of any accident to the rider. Here are few other benefits of the comprehensive bike insurance policy:
- Covers third party liabilities as well:
Third party bike insurance has become mandatory for all bike owners. If you plan to buy comprehensive bike insurance policy, it will cover the damage caused to the bike by fire, accidents, theft and natural calamities. Also, the third party liability is an added bonus for you. For example, if the other party’s vehicle suffers damage during an accident involving you, then you’ll be covered by a comprehensive plan.
- Safeguards against death and permanent non-functioning of limbs:
Many times, you have to wipe out all savings to save the life of loved ones during an accident. If you’re the bread earner of the family and die in an accident, then this can be a huge blow to the family members. Such circumstances can be avoided by opting for the comprehensive cover that provides monetary compensation when any such event occurs with you or your family members.
- Safeguards against injuries to the rider:
Accidents have become quite common in the recent era. We don’t have a hold over what will happen next. But we can definitely secure ourselves today and tomorrow, by choosing comprehensive bike insurance online. When the vehicle is insured, your medical expenses will be covered by the insurer in case the appropriate rider is attached. Hence, you won’t have to worry about the financial restraints in such a critical situation.
- Safeguards against damage to the vehicle:
In the case of an accident, it becomes extremely difficult to restore the vehicle. If you don’t want the maintenance and repairing cost of the vehicle to dig a hole in your pocket, then opt for the comprehensive bike insurance policy and drive carefree wherever you go.
Bike insurance online is your best friend, as it will not only helps financially but also allows you to own the same bike again once it’s stolen. Bike insurance policy is the best planning for today, tomorrow and forever.