A Comprehensive Guide to Selecting the Best Bike Insurance for New Riders

Stepping into the world of biking as a first-time rider is a thrilling experience. However, the freedom of driving your two-wheeler on the open roads of the country comes at the cost of responsibilities. Along with the excitement of purchasing your new bike, you need to take the responsibility of protecting your vehicle by having a bike insurance plan.

A two-wheeler insurance policy not only safeguards your bike but also ensures you peace of mind when it comes to managing your finances. Scroll down to find out how you can select the right bike insurance for you.

What Does Bike Insurance Cover?

Before opting for the best bike insurance plan, you must be aware of the types of coverage you will get. Note that the coverage differs depending on your budget and needs. So, go through the following points to learn about instances that are covered under a bike insurance plan:

• Third-party Liabilities

It refers to the events when you accidentally cause damages to a third-party vehicle or property with your bike while driving. During such scenarios, you become liable to pay for the damages you caused, and your insurance plans provide you with financial coverage for the same.

• Accidental Damages

Whenever your bike comes across damages during accidents, you shall receive instant coverage for the same from your two-wheeler insurance provider. With property evidence and documents, you need to inform the company immediately and raise your claim.

• Natural Disasters

These refer to the damages that your bike has faced due to natural disasters like floods, earthquakes, cyclones etc. Your bike insurance company shall provide you with the necessary financial assistance to cover the expenses that you need to bear to repair your bike.

• Man Made Disasters

Two-wheelers can also come across damages due to man-made disasters which include strikes, riots, vandalism etc. Every two-wheeler policyholder is eligible to receive financial coverage to cover the damages of their bike in such scenarios as well.

• Fire Disasters

Fire disasters refer to severe accidents on your bike caused due to explosions, self-ignition, lighting etc. In the event of such dangerous circumstances, you can also raise a claim to receive financial assistance, which you can use to repair the damages to your bike.

• Theft of Bike/Total Loss

In case of the total of the bike or the theft of your bike, you are also eligible to receive financial assistance. In that case, when the insurance company declares your bike to be “untraceable”, they shall provide you with financial cover based on the bike IDV and applicable terms and conditions.

How Can You Select the Best Bike Insurance?

The key to selecting the best bike insurance policy is to consider a few crucial factors. The following points feature the things you need to keep in mind while selecting a bike insurance policy:

• Coverage Options

You must ensure to assess your requirements when it comes to safeguarding your bike against potential damages. Based on your needs, you can explore the different types of coverage offered by your shortlisted companies and opt for the one that aligns with your requirements.

• Cost and Deductibles

As first-time bike riders, it is common to have a tight budget. Thus, you need to ensure the bike insurance plan you are going for lies within your budget. Along with that, you must consider that you opt for the company that comes with little or no deductible so that you do not have to pay anything extra from your own pocket.

• Claim Settlement Ratio

Bike insurance providers with high claim settlement ratios are the ones who settle the claims of their customers perfectly. You must go for the ones that feature a high claim settlement ratio, ensuring a smooth and reliable claim settlement process.

• Network of Garages

Every bike insurance provider offers a wide range of garages within their network, where their customers can avail services to repair their bikes free of cost. You need to ensure the company you are opting for offers a large network of garages, especially in the nearby locations of your residence.

• Additional Benefits

Policyholders are also allowed to incorporate additional benefits, or riders in their existing bike insurance plan to enhance the coverage they receive. Thus, you must research and ensure that your shortlisted bike insurance companies offer adequate additional benefits to provide you with a comprehensive two-wheeler insurance policy.

The Bottom Line

Henceforth, being a new rider, driving your two-wheeler can be an exciting experience. However, when you have ensured the maximum protection of your bike, it provides you with a sense of contentment and relief while driving. With different types of coverage options, you can select the one that aligns with your financial requirements perfectly. Apart from these, you must make sure to opt for online car insurance or a two-wheeler plan from a reliable insurance company that has a good reputation in the market.

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