What is Bike Insurance?

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.

Covered under Bike Insurance Policy

Natural man made Disaster coverage – Any loss or damage caused to the insured vehicle due to natural calamities such as lightning , earthquake , flood, cyclone will be covered etc. in addition it offers coverage against the damage caused due to various manmade disasters, such as riots , strikes by outside means , malicious act , territory activity and any damage caused in transit by road , rail , inland waterway , lift ,elevator or air.
Own damage coverage – this cover safeguards the insured vehicle against any loss or damage caused by accident, fire, self ignition or explosion
Theft or burglary coverage- the policy will compensate the owner if the insured motor vehicle or scooter get stolen.
Third party liability coverage- it offer cover against any legal loss of money due to injuries to third party in the surrounding which may have even lead to their demise. similarly it protect against any damage caused to any third party Property.

Document Require Bike Insurance Policy