Here are the advantages of having a bike insurance


25 Jul 2023

Ride worry-free with bike insurance from Kotak General Insurance. Learn about the 6 benefits you will get with bike insurance from us & secure your ride today!

A bike is an expensive purchase that should have ample financial protection. However having a bike insurance has its own set of pros. Read on to know more.

A responsible rider lives nothing to chance while on a bike. Besides, there are personal safety equipment like helmets, riding boots, guards, etc., to ensure the rider's personal safety. Unfortunately, however, mishaps can occur to most skilled riders despite taking all the precautions.

Therefore, it's vital to protect your bike through adequate two-wheeler insurance coverage financially.

Despite that, many riders don't buy an insurance policy or only buy the statutory 3rd party policy.

So, is it worth buying a bike insurance policy? Let's find out.

Advantages of bike insurance

Apart from fulfilling the statutory obligation, third-party bike insurance can help you cover the damages caused by your bike to another person or property involved in the accident.

However, you can have many advantages if you go for a comprehensive two-wheeler insurance policy.

Full insurance coverage

A comprehensive bike insurance policy covers both third-party liabilities as well as damages caused to the insured bike if involved in an accident.

Coverage against natural disasters

Your bike may sustain damage during natural disasters like floods, earthquakes, etc. A comprehensive plan covers your bike against various natural calamities, as listed in the insurance brochure.

Coverage against man-made disasters

Theft, burglary, strike, war, etc., are various forms of man-made incidents that can cause damage to your bike. However, comprehensive two-wheeler insurance can cover your bike against numerous man-made disasters per the insurance terms and conditions.

Personal accident cover

The personal accident cover provides insurance coverage in the unfortunate event of an accident causing death, disability, or hospitalisation.

In India, it is compulsory for owner/drivers to have a personal accident cover, irrespective of whether they go for third-party or comprehensive vehicle insurance.

Additional coverage

You can further increase the coverage of your comprehensive bike insurance by paying additional premiums to include some useful add-ons.

Zero depreciation cover

Zero depreciation does not consider any depreciation of your bike and helps you to claim the total cost of damage or replacement of any bike parts because of accident or any unforeseen circumstances.

Few factors to keep in mind when you have a bike insurance

Keep a fund ready at the time of renewal

Since you need to renew the bike insurance regularly, you may consider keeping a separate fund during this time, or it can lead to a financial burden. However, the expense is justifiable considering the insurance coverage and benefits they provide if one gets involved in an accident.

Timely renewal of policy

Your bike insurance policy may lapse if you're not careful to renew it on time every year. So, you need to remember the renewal date. However, you can now purchase multi-year policies, which can be from 2- 5 years. These policies stop you from worrying about annual policy renewal dates.

Have a bike insurance even for your E-bikes

The usage of e-bikes is rising in India. However, it is still difficult to find a dedicated e-bike insurance policy. While the government mulls over introducing dedicated guidelines in this regard, you can purchase a regular two-wheeler insurance plan to cover your e-bike in the meanwhile.

Evidently, having a bike insurance far outweigh the problems you may face in continuing the policy. Therefore, consider bike insurance more like an extension of your personal insurance than just a statutory obligation to fulfil. Kotak long term two-wheeler insurance is a comprehensive bike insurance policy that brings ample benefits for you and your bike. So ride safe and protect yourself and your bike with the right motorbike insurance.

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Team Kotak GIC

The content of this blog has been created and carefully reviewed by the esteemed team at Kotak General Insurance, with the sole purpose of providing valuable guidance and sharing insights on the importance of general insurance. Our objective is to assist users in making informed decisions when purchasing or renewing insurance policies for their cars, bikes, and health. Our expertly curated information aims to empower our readers with the knowledge they need to protect their valuable assets and financial interests.