Bike insurance protect the insured bike from loss caused by accident, theft , natural manmade disasters. it also cover the insured bike owner from any third part liability that may occur in a road accident. hence a bike insurance cover expenses for motorcycle, mopeds, and scooter caused by several unforseen circumstances.
Bike Insurance provides financial protection to the insured bikes during accident, theft and other incident.
According to the motor vehicle act 1988 third party bike insurance is compulsory for all type of two wheelers. A 3rd party bike insurance policy protect the bike owner in the event of road accident that cause damage to the other party or person.
therefore buying or renewing bike insurance is highly advisable to ensure compliance with legal requirement and avoid challan. remember this policy not only provides financial protection but also ensures adherence to regulatory standard.
Bike Insurance premium based on coverage and engine cubic capacity of a two wheeler.
Apart from this there are varius factor to decide the bike insurance premium rate. however thord part bike insurance policies have uniform rate among all insurers since IRDAI determine it.
