When you buy a bike, there is so much that goes into the process, like planning, research, inquiry, suggestions, budgeting, etc. The bike into which you put so much thought, emotions, and money deserves to be safeguarded against all risks. Two-wheelers, especially bikes, are one of the most favoured means of communication in India as they help avoid bumper-to-bumper situations and move through narrow lanes easily.

In India, when you buy a two-wheeler, it is mandatory to purchase a third-party insurance policy that will cover you against third-party liabilities. But this policy only covers the damage caused to the third party by your vehicle. But when a vehicle meets a mishap, it usually just doesn’t affect the third party but also causes damage to the insured vehicle as well as the rider. To cover all such loss and damage costs, you need to invest in comprehensive bike insurance that will cover various risks faced by your bike.

A comprehensive bike insurance policy is a wholesome package that covers various risks, including accidental damage to a third party or your bike, theft, loss, damage caused by natural calamities, death or bodily injury, etc.

Here are some of the core features offered by a comprehensive two wheeler insurance plan.

Many people opt only for the mandated two-wheeler insurance, which is the third-party insurance, considering that the cost of premiums is much lower than that of comprehensive bike insurance premiums. But one must consider that the risks covered by third-party bike insurance are only limited to third-party liabilities, whereas comprehensive bike insurance covers own damage and rider along with third-party liabilities. Not to forget the coverage amount offered by third-party insurance is very less, making the insurance investment look meaningless at the time of settlement.

  • Damage to insured bike – When there is an accident or collision, your bike might suffer severe damage, and repairing it can be quite costly. If your bike suffers partial damage, then you can pay for its damage and get reimbursement from the insurer. In case your bike gets completely damaged in an accident, you can claim and get Insured Declared Value (IDV) of the insured bike.
  • Rider’s injuries – Comprehensive two wheeler insurance is like a safety net that protects you against medical expenses needed in case of injury to self (rider).
  • Disability or death – The consequences of unforeseen events like accidents cannot be controlled. Many times, people suffer permanent disability or get deceased. In such cases, a comprehensive policy offers medical expense coverage as well as financial assistance to dependants of the insured person.
  • Third-party liabilities – Third-party liability insurance is mandated. Hence, it must be abided as per the law. A comprehensive bike insurance policy covers it and saves the task of buying it additionally.

Add-on covers offered by comprehensive bike insurance

The risks faced by a vehicle depend on various factors like location, climate, type of roads it travels on, etc. A basic plan cannot cover all. Hence, there are different add-ons offered on comprehensive two wheeler insurance to cover specific risks. Here are some of the popular add-ons.

  • Zero depreciation cover – Typically, the coverage amount is provided after deducting the depreciation amount. Hence, you receive a lower amount. By opting for zero depreciation cover, you can eliminate the deduction of the depreciation cost and receive the entire coverage amount. However, the zero dep cover is only available for cars not older than three years.
  • Roadside assistance cover – In case your vehicle breaks down, this add-on will provide roadside assistance.
  • Engine and gear protection cover – In case the engine of the bike gets damaged, then this add-on provides cover for the repair.
  • Return to invoice – At times, accidents are major enough to damage your bike entirely. In such cases, this add-on comes handy to get the same or similar bike.