Common Exclusions about Bike Insurance Policies And How To Avoid Them

A bike insurance policy provides enough financial protection if your two-wheeler is involved in an accident, protecting you from paying out of pocket for repairing the damaged vehicle. Consider reading the policy inclusions and exclusions before purchasing bike insurance. Continue reading for information on third-party bike insurance policy inclusions and exclusions.

You must know the different types of policies that Indian insurers offer before you can get into the inclusions and exclusions of a bike insurance policy.

Typically, all general insurance providers in India offer two types of bike insurance policies:

• Bike insurance with third-party liability
• Comprehensive bike insurance

In India, all two-wheeler owners are required to carry third-party bike insurance. A comprehensive bike insurance plan is another option if you want extensive protection because it covers both third-party liabilities and your damages to the insured vehicle.*

Third-party liability bike insurance coverage

Third-party insurance is required for all bike owners under the Motor Vehicles Act of 1988. It is a type of bike insurance that provides coverage for third-party vehicle damage, bodily harm, and loss of or damage to personal property caused by any accident involving the insured vehicle. However, it does not offer any protection against one’s own damages.*

Despite being basic coverage, it assures you adequate protection against the accidental harm you might inflict on others in an accident.

Third-party bike insurance plan inclusions

What is covered by your third-party bike insurance policy is listed below:

• Your legal and financial obligations will be covered if your bike results in bodily harm to a third party.
• It protects against harm to a third party’s property due to an accident.
• The Motor Tribunal Court will decide how much compensation will be given to the victims. You won’t have to pay anything out of pocket if the compensation amount is less than the coverage provided by the plan. 

Third-party bike insurance plan exclusions

What is excluded from a third-party bike insurance policy is as follows:

• The third-party plan does not cover any non-collision-related damage. Additionally, you are responsible for paying for all necessary repairs.
• Your car won’t be covered for accident-related damage. The cost of fixing your broken bike comes out of your pocket.
• This plan does not cover damage to the vehicle resulting from theft or natural disasters.

However, these exclusions are explicitly stated in the policy document; nonetheless, you should read it carefully before purchasing a third-party bike insurance policy or renewing your motorcycle insurance.

To summarise, review the bike insurance inclusions and exclusions before purchasing. It will assist you in selecting the offer that satisfactorily meets your needs and financial constraints. Additionally, it will help you comprehend the policy’s coverage, and you can use it as needed.

Being a biker is more than just riding and road trips. To ensure peace of mind, one must thoroughly research the bike insurance policy before buying one. It will also save you much money. ##

Get insured anytime, anywhere! Check out Bajaj Allianz General Insurance website to learn more and download the app now.

* Standard T&C Apply

## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.