Insurance online

Do you have a brand new bike? Or acquired a second-hand bike from a known person? Well – you are entering a new phase of life, where your commuting problems will come to an end. You get complete freedom to go anywhere at any time, without waiting for the mercy of anyone. You can take your friend, spouse or lover along to enjoy the breeze while whirring on your bike with speed.  Sure thing you must have already thought of keeping your bike as precious and save it from all perils, to enjoy your newly got freedom.

Now is the time you must acquaint yourself with everything related to bike insurance; and how you are immensely benefited by purchasing the best bike insurance online for you.

Importance of insuring your bike:

As the new owner of a motorbike, you may not know what possible perils your vehicle may undergo, and how you can safeguard your vehicle from them. As the authentic statistics goes to say, motorbikes are prone to road accidents 30 times more than cars and other 4 wheeler’s.

When an accident occurs, one cannot say the extent of damage occurring to the rider, the pillion-rider, as well as any other third party affected by that accident. From simple bodily injuries to a severe setback of partial or disablement, and even death can occur by these unfortunate events.

Besides, your bike can be affected badly and get damaged by these outside risks such as –

  • Fire
  • Self-ignition
  • Explosion
  • Typhoon
  • Hurricane
  • Storm
  • Cyclone
  • Floods
  • Lightning
  • Inundation
  • Rockslide
  • Landslide
  • Tempest
  • Frost
  • Theft
  • Burglary
  • Riot
  • Act of Vandalism
  • Strike
  • Terrorist Activity
  • Malicious Act
  • Accident caused by external means like animals
  • Damages caused by theft while in transit by road, rail, air or seaways etc.

You must know by taking a Single bike insurance Policy, you can safeguard your bike from all the above man-made calamities and natural calamities, in one stroke.

Types of bike insurance online available:

Bike insurance

Almost all the popular Insurance Companies are issuing bike insurance online nowadays. There are two kinds of Insurance Policies –

  1. Comprehensive Insurance Policy – which covers every possible risk that can occur to a bike, including damages caused to third parties by adding a Clause of Third Party Liabilities covered.
  2. Third Party Insurance Policy – This is made mandatory by Indian Vehicles Act for every two-wheeler on road, without exception. This Policy covers damages caused to any third party, by accidents to pay expenses for repairs to third party vehicle, paying medical expenses and hospitalisation expenses to third parties, and in the event of death or total disablement, suitable compensation as decided by the Court of Law.

What factors affect the Premium payable on bike insurance?

The bike insurance Premium amounts are governed by Government Rules and Tariffs. Depending upon the coverage, Insurance Companies charge differential premiums as well.

Make and Model of the bike:

The Insurance premium is more for high-end Motor-bikes, both indigenous and imported.

Cubic Capacity:

The power of the bike engine (cubic capacity) is considered for deciding on the Premium. The minimum Sum Assured for a bike of 350 cc and above is Rs.7000/- and correspondingly the Premium varies.

Geographical location:

Bike Insurance Premiums are more in Zone A cities like Delhi, Mumbai, Chennai, Bangalore, Ahmedabad, and Kolkata etc. All other cities of India are marked as Zone B, where the Premiums are less.

Insured Declared Value (IDV):

This is the total amount of Sum Assured you will receive from the Insurance Company when a claim is made. The age of the Bike, make and model will have a bearing in fixing the IDV.

How to buy a bike insurance online smartly?

In order to get the most beneficial bike insurance online, you need to take some efforts. Go online and study the “fine prints” of Clauses enumerated in bike insurance policies of different companies. At least you can compare 3 or 4 popular Companies online, by using the software tools readily available on each website.

Search for the favorable points available in the Policy issued for bike insurance online, and check whether they meet your requirements. You may require some specific add-ons for coverage, like the Personal Accident Insurance cover for you and pillion rider, since normally Third Party Liability Insurance Policies do not cover own damage to your vehicle, at times of accidents.

The idea should be to buy a best of best bike insurance online. For that here is an alternative way. Just click Coverfox Portal and get your choicest Policy!