In the maddening crowd of metros the bike or two wheeler comes to your rescue instantly. The bike saves your expensive time in accomplishing your tasks at ease. As you keep the bike to store your time and effort, similarly do not forget to get your bike insured to save yourself from the financial losing that may result in case of theft, some physical damage to your bike uncertainty third party liability.
Insurance for bike is as obligatory as insurance of car or any other vehicle. The Indian lawful makes it mandatory to have insurance of every automobile and in ipso facto it is more in your own self interest to have a comprehensive insurance cover for your bike. Along with the financial liability, insurance for bike also covers legal liability that may arise out of the third party in case of injury or death of a certain person.
What do Bike Indemnity Companies offer in comprehensive cover?
* Physical damage caused to your bike as a result of accident
* Depreciation occurred due to theft
* Loss occurred to the bike because of natural disasters
* Coverage for the third party liability
* Coverage for self injury
* Covers the therapeutic expenses of the insured and the clan members resulting from chance regardless of the party at fault
How do pedal insurance companies decide the premium?
The insurance premium may vary from company to company however the determining factors remain the same. The insurance calculator tool is also available online by which you can also calculate and compare the premium demanded by different bike indemnity companies. The premium for insurance for bike is calculated on the basis of the following factors:
* Make and model of the bike
* Age of the bike
* Registration zone
* IDV of the vehicle
* Cubic capacity of the engine
Would my existing bike safeguard company stimulate my warranty protasis my existing insurance course has lapsed?
Your lapsed policy cannot be renewed mere you can get a fresh insurance policy. You can get the new warranty policy from your existing provider or a new provider after getting your bike inspected near their surveyor. The new policy comes into force within 24 hrs from day of issue.
The No Claim Bonus is lost in the process and you cannot make any claims for the uninsured period.
There are many bike insurance companies that offer insurance for bikes at competitive price. It is advisable to go for a comprehensive insurance rather than only third-party coverage as it would bear for expenses in case you or quantity of your family members become a victim regarding any eventuality.