Safety is the number one priority. We all abide by this motto, be it while riding your bike or car. As the case may be, a helmet or seat belt ensures that you remain protected whenever you are commuting. One of the reasons it is compulsory to wear one when riding or driving. A similar regulation that is in place to protect the safety of your vehicle is a two-wheeler insurance plan. Marketed by different names like bike insurance or scooter insurance, they are essentially similar.
There are two options to availing a two wheeler insurance plan – comprehensive or third party insurance for bike. Third-party insurance is mandatory by law and is recommended if you’re only looking for liability coverage at lower rates. Whereas it may be cheaper than a comprehensive plan, it will not offer you the most protection. It can also burn a hole in your pocket in case of an accident as it covers only the liabilities of third parties and not the owner.
To compensate for the absence of insurance cover to the owner, buying a comprehensive motor policy is recommended. It will ensure you are adequately protected at all times so you can enjoy the ride of your life.
Here are the benefits of coverage from a comprehensive policy offers –
Loss or Damage due to natural calamities
A natural calamity can have a hard-hitting impact on human life. It includes damages to your vehicle. Availing a comprehensive insurance plan helps you insure your vehicle from such natural calamities. They may range from fires, explosions, lightning, earthquakes, floods, typhoons, and the like. You can check your policy document to know the various natural disasters included in your two wheeler insurance policy.
Loss or Damage due to man-made calamities
Not only a natural calamity but also man-made calamities like theft, riots, strike, terrorist activity, and more are covered in your comprehensive insurance cover. Additionally, during transit of your vehicle via road, rail, water, or air is also covered by a comprehensive two wheeler insurance plan.
Personal Accident Cover
All comprehensive motor insurance policies have a personal accident cover of ₹ 15 lakhs for the owner of the vehicle in case of an accident or permanent disability due to an accident. This enhanced coverage comes only at a cost of ₹ 750 included in your premium amount.
Coverage for Third Party Liabilities
When you insure your vehicle with a comprehensive policy, you are also insured against any third party liabilities, both to person and the property. So in case of an accident, there is an overall protection to the people as well as any damage to your vehicles.
When you avail comprehensive vehicle insurance, keep in mind the premium charged is based on the type and age of the vehicle, place of registration, fuel type and lastly the insured declared value or IDV. This can vary the premium across different vehicle models and make. Moreover, comprehensive insurance covers give you the option of additional covers in the form of add-ons. They can range from a zero depreciation add-on, engine protector add-on, breakdown assistance and more. You can check with the preferred insurer of your choice at time of two wheeler insurance renewal or a new purchase.