Comprehensive Bike Insurance

Comprehensive two-wheeler insurance is a package that offers insurance coverage for the loss/damage incurred by the insured’s two-wheeler as well as for third-party liabilities. It is an all-inclusive two wheeler insurance plan.

Policyholders can customise and enhance the coverage offered by a comprehensive policy with the help of a number of add-ons covers such as Zero Depreciation Cover, Roadside Assistance Cover, NCB Cover, Bi-fuel Kit Cover etc.

Key Features of Comprehensive Two-Wheeler Insurance

Comprehensive Two-Wheeler Insurance is designed to provide a wide range of protection to bike owners. Here are some key features of Comprehensive Two-Wheeler Insurance:

1. Wide Coverage:

- Provides coverage for both third-party liabilities and own-damage to the insured bike due to accidents, theft, natural calamities, or man-made disasters.

2. Personal Accident Cover:

- Offers a personal accident cover for the owner-driver in case of permanent total disability or accidental death.

3. Add-On Covers:

- Option to enhance coverage through various add-on covers like zero depreciation, roadside assistance, engine protection, etc.

4. No Claim Bonus (NCB):

- Rewards policyholders with a discount on premium for every claim-free year, which can be accumulated over years.

5. Legal Compliance:

- Fulfills the legal requirement of having at least third-party liability insurance, ensuring you are compliant with the law.

6. Peace of Mind:

- Provides peace of mind knowing that financial liabilities arising from unforeseen incidents involving the bike are covered.

7. Cashless Claim Service:

- Availability of cashless claim service at network garages which simplifies the claim process and ensures quality repair work.

8. Flexible Policy Tenure:

- Offers flexibility in choosing the policy tenure, which could be one, two, or three years.

9. Online Policy Management:

- Enables easy online purchase, renewal, and management of the insurance policy, making the process hassle-free.

10. Customizable IDV:

- Some insurers allow you to set the Insured Declared Value (IDV) of your bike, which affects the premium and the sum insured.

11. Towing Facility:

- Provides a towing facility in case of a breakdown or an accident.

12. Renewal Reminders:

- Sends renewal reminders to ensure your bike insurance does not lapse.

13. Quick Claim Settlement:

- Comprehensive policies often come with a quicker claim settlement process, ensuring that you are not stranded during tough times.

These features make Comprehensive Two-Wheeler Insurance a preferred choice for individuals looking for extensive protection for their bikes along with legal compliance.

What Is Covered Under Comprehensive Two-wheeler Insurance Policy?

Get a comprehensive two-wheeler insurance quote online today. Don't forget to explore the following advantages of buying a comprehensive two-wheeler insurance policy.

• Damage or Loss Due to Natural Calamity: Any damage or loss occurring to the insured bike because of any natural calamity like typhoon, cyclone, flood, hurricane, storm, inundation, tempest, hailstorm, landslide etc will be covered under a comprehensive two-wheeler insurance plan.
• Damage or Loss Due to Manmade Calamity: Any damage or loss occurring to the insured bike because of any man-made calamity like a riot, any malicious act, terrorist activity, strike, damage caused during transit by rail, inland waterway, road, lift, air, water etc will be covered under a comprehensive two-wheeler insurance plan.
• Own Damage Cover: With the help of this cover, the insured vehicle is offered protection against any loss or damage caused to it because of any theft, natural calamity, man-made calamity, fire, explosion etc.
• Third-Party Liability: Any loss or damage suffered by a third party person or third party property due to an accident or mishap with insured vehicle is covered under the comprehensive insurance plan.
• Theft: In case, the insured motorbike gets stolen, coverage is offered to the insured vehicle.
• Explosion and Fire: Under a comprehensive insurance plan, coverage is offered for any loss or damage caused because of self-ignition, fire, or an explosion.

What All Is Not Covered Under A Comprehensive Two-wheeler Insurance?

The following are not covered under a comprehensive two-wheeler insurance plan:

• Depreciation/wear and tear of the vehicle.
• Mechanical or electrical breakdown of the insured vehicle.
• Illegal practices such as when the vehicle was being driven without a valid driving licence.
• The accident occurred when the driver was under the influence of alcohol or drugs.
• Any loss or damage due to mutiny war, or nuclear attacks and other events that are beyond compensation.

What Add-ons Can You Buy with Comprehensive Bike Insurance?

The add-ons covers are designed to enhance the coverage of an insurance policy. They offer flexibility to insurance plans by allowing its policyholders to select and pick a cover to boost coverage and different aspects of a plan based on their suitability. Below given are some of the add-on covers which can be included in a comprehensive bike insurance cover:

• Passenger Cover
• Consumables Cover
• Engine Protector Cover
• Return to Invoice Cover
• Zero Depreciation Cover
• Roadside Assistance Cover
• No Claim Bonus Protect Cover

What are the Benefits of Buying a Comprehensive Bike Insurance Plan?

Getting your bike insured under an all encompassing, comprehensive bike insurance plan can give you the peace of mind and help you in staying worry free from protecting your bike, rider’s safety, any liabilities that can incur the damage or loss of third party be it third party property or person. Some of the benefits of buying a comprehensive insurance for bike in India are as follows:

• A comprehensive bike insurance plan offers compensation to the policyholder for any expenses incurred by he/she towards the repair of insured bikes.
• It offers coverage against loss or damage incurred because of any natural calamities such as tsunami, earthquake, flood, hurricane, etc.
• It offers protection to the insured bike against any damage or loss caused because of manmade activities like burglary, theft, riots, etc.
• This insurance plan also offers coverage to the rider for any kind of personal injuries incurred due to an accident at the time of riding the bike. Moreover, it is not important for the rider to be the policyholder. If the rider is holding a valid driving license, then the insurance provider would offer compensation for medical assistance.
• Under a bike comprehensive insurance plan, a policyholder not only receives compensation for medical treatment of the rider incurred due to an accident but it also provides financial assistance for complete or partial physical disability of the rider. Also, it offers a death benefit in the event of death of the rider.
• Other than the above benefits, a comprehensive bike insurance plan also offers coverage against any legal liabilities incurred towards any third party during any mishap or accident. This plan offers coverage towards both vehicle loss, property damage, death, physical injuries to the third party caused due to the fault of insured vehicle.

Comprehensive Bike Insurance Vs Third Party Bike Insurance

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

How to Buy A Comprehensive Bike Insurance Policy?

To buy a comprehensive bike insurance plan is quite and you just have to follow the below-given steps to purchase a comprehensive bike insurance policy online:

Step 1: Visit the official website of InsuranceDekho

Step 2: In the ‘Get Your Quote’ section provide your bike registration number or other details such as its make, model, variant, year of registration and so on, and then select ‘proceed’.

Step 3: Enter your personal details, i.e., your name and your mobile number after which various policy quotes for comprehensive bike insurance policies will be displayed on your screen.

Step 4: Compare the bike insurance policy quotes and select a plan which suits your needs and budget the most.

Step 5: Make the payment for the insurance policy of your choice. After the payment, the policy document will be sent to your registered email ID.

How to Renew Comprehensive Bike Insurance Policy?

Renewing a Comprehensive Bike Insurance Policy is a simple and straightforward process. Here are the steps to follow for a hassle-free renewal:

1. Visit Insurer's Website:

- Go to the official website of your insurance provider.

2. Login to Your Account:

- Login with your credentials. If you don't have an account, you may need to create one using your policy number and other details.

3. Navigate to Renewals Section:

- Look for the renewals section, which is usually prominently displayed on the website.

4. Enter Policy Details:

- Enter your existing policy number and other necessary details.

5. Review Policy Details:

- Your existing policy details will be displayed. Review them to ensure all information is accurate.

6. Select Add-ons (if any):

- If you wish to include any add-on covers like Zero Depreciation, Roadside Assistance etc., select them at this stage.

7. Check Premium Amount:

- The premium amount for renewal, including any add-ons selected, will be displayed.

8. Make Payment:

- Proceed to make the payment through one of the available online payment methods.

9. Download and Print:

- Upon successful payment, download the policy document and take a printout for your records.

10. Check Email:

- Your renewed policy document will also be sent to your registered email ID.

11. Contact Customer Support (if needed):

- If you face any issues or have queries, contact the customer support of the insurance company.

12. Offline Renewal:

- If you prefer, you could also visit the nearest branch of the insurance company for offline renewal.

By following these steps, you can ensure a smooth and hassle-free renewal of your Comprehensive Bike Insurance Policy. It's advisable to renew your policy before the expiry date to avoid any lapse in coverage and to continue enjoying the benefits of comprehensive protection for your bike.

How to Claim Comprehensive Bike Insurance Policy?

Claiming a Comprehensive Bike Insurance Policy involves a few steps to ensure the claim process goes smoothly. Here's a step-by-step guide on how to claim your Comprehensive Bike Insurance Policy:

1. Immediate Actions Post-Accident:

- Ensure everyone's safety and seek medical attention if necessary.

- Report the incident to the police, especially in cases of theft, major accidents, or third-party involvement, and obtain a copy of the FIR (First Information Report).

2. Inform the Insurance Company:

- Contact your insurance company at the earliest, ideally within 24 to 48 hours of the incident.

- Provide all necessary information about the incident and the damage incurred.

3. Initiate Claim Process:

- Fill out the claim form provided by the insurance company, either online or offline.

- Provide accurate details regarding the incident, the extent of damage, and any third-party involvement.

4. Document Submission:

- Submit the required documents such as the claim form, FIR, photographs of the damaged vehicle, etc.

- Other documents may include your driving license, RC (Registration Certificate) of the bike, and the insurance policy document.

5. Survey and Assessment:

- A surveyor appointed by the insurance company will assess the damage to your bike.

- Provide complete cooperation to the surveyor during the assessment process.

6. Repair Work:

- Take your bike to a network garage for repairs if your insurer provides cashless claims; otherwise, you can choose a garage of your choice.

- Ensure quality repair work is done to restore your bike to its pre-accident condition.

7. Claim Submission:

- Submit the claim along with repair bills, medical bills (if applicable), and any other supporting documents.

- In case of a cashless claim, the insurance company will settle the bills directly with the garage.

8. Claim Approval:

- Once the claim is approved, the claim amount will be disbursed, minus any deductibles and depreciation, if applicable.

9. Follow-Up:

- Stay in touch with the insurance company for any further documentation or information that might be needed.

- Keep a copy of all documents and correspondence related to the claim for future reference.

10. Review Claim Settlement:

- Review the claim settlement to ensure it's as per the terms of your policy.

The claim process may vary slightly from one insurance company to another, so it's advisable to check your policy document or contact your insurance company for specific instructions regarding the claim process.

Documents Required to Claim Comprehensive Bike Insurance Policy

When claiming a Comprehensive Bike Insurance Policy, certain documents need to be submitted to the insurance company to process your claim. Here is a list of the usual required documents:

1. Claim Form:

- A duly filled and signed claim form provided by the insurance company.

2. Driving License:

- A valid driving license of the person who was riding the bike at the time of the accident.

3. Registration Certificate (RC):

- The Registration Certificate of the insured bike.

4. Policy Document:

- A copy of the insurance policy document.

5. FIR (First Information Report):

- FIR filed at the nearest police station, especially in case of severe damage, theft, or third-party injury/death.

6. Estimate of Repairs:

- An estimate of the repair costs from the garage where your bike is being repaired.

7. Medical Bills (if applicable):

- Medical bills and reports if there is an injury involved.

8. Photographs:

- Photographs of the damaged bike from different angles, and the accident scene if possible.

9. Death Certificate (if applicable):

- In case of a fatal accident, the death certificate of the deceased.

10. Legal Heir Certificate (if applicable):

- If the claim is to be made by the legal heirs of the deceased, a legal heir certificate is needed.

11. Other Relevant Documents:

- Any other document as required by the insurance company to process the claim, like a post-mortem report in case of death, etc.

12. Final Repair Bill:

- The final bill from the garage after the repair work has been completed.

13. Discharge Voucher:

- A discharge voucher if you are satisfied with the claim settlement and wish to discharge the insurer of its liabilities.

It's advisable to contact the insurance company to understand any specific documentation requirements they might have for claiming the Comprehensive Bike Insurance Policy. Keeping all documents ready and in order can help ensure a smooth and hassle-free claim process.

Tips to Reduce Comprehensive Bike Insurance Premium

Reducing the comprehensive bike insurance price or premium while maintaining adequate coverage is a smart financial move. Here are some tips that can help you achieve this:

1. Choose a Higher Deductible:

- Opting for a higher voluntary deductible can lower your premium. However, it means you will pay more out-of-pocket in the event of a claim.

2. No Claim Bonus (NCB):

- Accumulate your No Claim Bonus by avoiding small claims. NCB can provide a significant discount on your premium over time.

3. Install Anti-Theft Devices:

- Installing ARAI-approved anti-theft devices in your bike can earn you a discount on the premium.

4. Compare Different Policies:

- Compare various policies online to find one that offers the best coverage at the most affordable rate.

5. Bundle Policies:

- If you have more than one bike or vehicle, consider bundling them under a single policy or with the same insurer for a discount.

6. Maintain a Good Riding Record:

- Keeping a clean riding record free of accidents and traffic violations can help in reducing the premium.

7. Select Appropriate Add-ons:

- Choose only the add-ons that are essential for you, as each add-on increases the comprehensive bike insurance price.

8. Timely Renewal:

- Renew your policy before it expires to avoid higher premiums that come with a lapsed policy.

9. Opt for Long-Term Policies:

- Long-term policies often come at a discounted rate compared to renewing annually.

10. Maintain Your Bike Well:

- A well-maintained bike is less likely to incur claims, thus helping in reducing the premium over time.

11. Avoid Modifying Your Bike:

- Modifications can increase the premium, so it's better to avoid non-standard modifications.

12. Review Your Coverage Annually:

- Evaluate your coverage needs annually and adjust your policy accordingly to ensure you're not over-insured.

13. Online Policy Purchase and Renewal:

- Buying and renewing policies online can be cheaper as compared to offline methods.

14. Check for Discounts:

- Ask your insurer about any available discounts or promotional offers.

By following these tips, you can effectively reduce the premium of your comprehensive bike insurance price or premium while still ensuring you have the necessary coverage to protect yourself financially.

Significance Of IDV While Selecting The Bike Insurance Policy

IDV stands for Insured Declared Value. It is the maximum amount that your insurance company would be providing you, in case your two-wheeler gets stolen or gets completely damaged. Premiums are an important aspect to be considered while choosing a bike insurance policy but do not forget to check the Insured declared value of your bike prior to buying an insurance policy. Also, it is highly recommended to select a higher IDV as at the time of complete loss of your two-wheeler, a high IDV would mean a higher reimbursement amount.

What Is NCB in Comprehensive Bike Insurance?

The premium for comprehensive insurance for bike is higher than of third party bike insurance plans as the former offers coverage to a third party as well as own-damage expenses which contributes to wider coverage, while the latter compensates the only third party expenses. Besides, the No Claim Bonus or NCB benefit is only offered on the own-damage insurance cover within the policy.

The No Claim Bonus is a reward which is provided by the bike insurance companies to the policyholder for a claim-free year. This benefit is cumulative in nature which could go up to 50% with every successive claim-free year. Here is the chart that explains the calculation of the No Claim Bonus (NCB):

Reasons to Buy A Comprehensive Bike Insurance Policy Online?

When it comes to purchasing a bike insurance plan, you can buy it either offline or online. However, in today’s scenario, buying a policy online is more beneficial for policyholders due to which every insurance company is making its plans available online. Here are some significant facts that you should consider before purchasing two-wheeler insurance online:

• Quick Policy Issuance – The online purchase of a bike insurance policy could make you get the policy documents in your mailbox within a few seconds due to quick policy issuance by the insurers.
• No Additional Charges – By purchasing a bike insurance plan online, you save yourself from paying any additional charges to agents, which makes the purchase process economical.
• Easy Purchase Process - You will not be required to provide previous bike insurance policy details to your insurance company if your policy has been expired for more than 90 days.
• Paperless Procedures - You can get benefits related to a bike insurance plan without getting into tedious paperwork with paperless procedures through an online facility.
• Easy Renewal of Policy - You can easily renew your expired bike insurance policy online by making the payment online through the website of your insurance company.
• Claim Settlement Assistance – With the online purchase, you can get assistance while making a claim for your bike or two-wheeler for its settlement.
• Anytime Online Support – The online support is always available on the website of the insurer or insurance platforms to help you with any insurance-related query through chatbox, email, etc.