Here's your know-it-all guide on bike insurance covers

Bikes are one of the best modes of transport that can never get replaced, especially in tier 2 and tier 3 cities in India. Be it going to the market, college or office, a bike ride is always the first preference. It saves time, and it has also become a style statement these days. But, with all the perks and convenience, it also has certain risks. A two-wheeler collision is much more deadly than a four-wheeler crash. This is when a bike insurance policy comes into the picture.

With the 2019 amendment to the Motor Vehicle Act, it is much more important to consider the different factors that concern you as a vehicle owner. Bike insurance is an important topic to be aware of.

First, let us answer the question 'What is Bike Insurance?'.

Bike insurance, also known as two-wheeler insurance, is a unique way to cover yourself from financial risks resulting from a tragic incident such as a two-wheeler traffic crash. Any bike owner must have at least a third-party bike insurance plan, according to the Indian Motor Tariff.

Benefits of Bike Insurance Cover

1. Third-Party Liability Coverage
Bike insurance protects you from third-party damages resulting from personal injuries or property loss sustained by the insured bike. In an insurance policy, the insurer can compensate for the third party and manage any civil liability resulting from the case.

2. Comprehensive Protection

You should purchase a third-party liability policy, which only pays for third-party damages and resolves any legal problems that may arise. You must, however, select a robust two-wheeler insurance package if you expect the insurance to cover losses to both you and the third party.

It has extensive coverage for both natural and human-made disasters. In comparison to the standard policy, you will pay a marginally higher fee for add-ons. Zero Depreciation, Pillion Rider, Two-Wheeler Insurance Personal Accident Cover, and NCB Protect are only a couple of available options.
Let's look at some of the add-ons available when you buy bike insurance online or offline.

• Zero Depreciation Cover

The insurance provider covers the depreciated loss of the parts in the event of a dispute that the bike's parts are removed. You are responsible for the remaining balance. A zero-depreciation add-on is beneficial since it eliminates the depreciation impact. If the cover option is chosen, the manufacturer covers the entire cost of repairing or replacing the part, regardless of depreciation.

• NCB

You win a premium benefit called the No Claim Bonus per year if you do not file a claim. This discount is added to the renewal premium, which will range from 10% to 50%. If you file a claim every year, though, you will forfeit the accrued discount. If you have the NCB Protect add-on, you can keep your discount even if you make a lawsuit.

• Passenger Cover

The provision only protects the owner/driver of the car in the case of a personal injury. This add-on is available if you want a cover for the pillion rider. It will cost a reward if the pillion rider died or became disabled due to an injury.

Bike insurance is needed, and you must choose the right coverage for your needs. Before you buy bike insurance online, you can use a free bike insurance calculator to estimate the cost and make an informed decision. You can check out bike insurance from reputed insurers like Tata AIG. Explore bike insurance covers today and get yourself secure from all the financial crises.