3 hrs ago

Bike Insurance Guide Covers Policies, Add-Ons, Renewals And Protection

Bike insurance is a contract between a bike owner and an insurance company.

It can help pay for certain losses after accidents, theft, or other covered events.

Third-party insurance is required in India and helps cover harm caused to other people or their property.

Comprehensive insurance can also cover damage to the insured bike.

Some extra features, called add-ons, can provide additional protection.

These may help with depreciation, consumables, emergency medical costs, or serious injuries to the owner-driver.

A policy can usually be renewed online through the insurer’s website.

During renewal, the owner can review the premium, coverage, tenure, and add-ons before paying.

Key facts

Mandatory cover: Third-party bike insurance is compulsory in India under the Motor Vehicles Act.
Third-party protection: Covers liability for damage, injury, and loss of life to others.
Comprehensive protection: May cover the insured bike against accidents, theft, fire, natural disasters, and some man-made events.
Depreciation allowance: Can reduce the effect of depreciation during claim settlement for replaced parts.
Return to invoice: May cover the difference between the bike’s invoice value and insured declared value in cases of total loss or theft.
Renewal process: Owners can enter their registration or policy number, review details, adjust coverage or add-ons, and pay the revised premium online.

freepressjournal.in · 3 hrs ago