Is a bike warranty better than a bike insurance policy
Bike insurance is nothing but a contract between you and your insurance provider for any mishaps to your bike. In this agreement, you pay a monthly fee to your insurer for the financial protection of your bike against third-party liability or damage against natural calamity, accidents, or theft.
On the other hand, a bike warranty is a guarantee from your manufacturer that your vehicle will be replaced or repaired if any damage occurs. It protects you from heavy financial losses in case of any unfortunate events. This means if any damage occurs during the warranty period, the manufacturer will bear the cost and won’t charge you. Bike warranty is usually of two types - New Bike Warranty and Extended Bike Warranty.
New bike warranty: It comes when you first purchase a bike and is mostly valid for 3-5 years or depending on the kilometers.
Extended bike warranty: Once your new warranty is over, you can extend your warranty (or you can also purchase bike insurance) by purchasing it. In this case, the coverage plan might differ.
So, both provide security & comfort. But every time, the debate is about which one is better: Two-Wheeler Insurance or Bike Warranty.
There’s only one way to find out is to find the differences and also what makes them unique.
Bike insurance vs. bike warranty
The bike warranty and bike insurance are two different protections for your bike. Though a bike warranty does not cover some situations, Two-Wheeler insurance covers most of the damages caused due to fire, natural disaster, theft, etc. Also, it is advisable to have both protections to be safe in all directions.
Disclaimer: The content provided is for education and informational purpose only, none of the information contained in our blog amounts to any form of opinion or advice. Please go through policy related documents carefully or consult an expert before making any insurance-related decisions.