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A two-wheeler should be insured to comply with laws and protect against financial losses in an emergency. Two-wheeler owners may need to know if they need third-party, comprehensive, or solo insurance. The Motor Vehicles Act requires all owners of motor vehicles to hold third-party insurance, which can be the most fundamental sort of coverage to obtain before riding a vehicle on the road. You can choose between Personal damage insurance or Comprehensive policies from Bajaj Allianz bike insurance which provide solo and third-party coverage.
Although two-wheeler insurance add-ons may vary from insurance company to insurance company, the following may be typical ways to customise it:
- Depreciation-free Coverage
Most assets depreciate with time. Zero depreciation coverage covers 100% of the depreciation for all car items except batteries, tubes, and tyres, which may be covered at 50%. By default, the policyholder pays for depreciation. They can choose one or all policies. Most insurers allow two zero-depreciation covers for each tenure, although some allow unlimited coverage. *
- Towing Service
Bike breakdowns can strand you. Call roadside assistance if your bike insurance covers it. If you need a tow truck or have a flat tyre, the insurance company can help. Vehicle key lock-out help, emergency gasoline, on-site repairs, cab service, lodging, route direction, and teleassistance could also be planned.
- Cover For Passenger Assistance
Because the life of the passenger is just as vital as the life of the rider, this insurance protects the person who sits behind the rider, often known as the pillion rider or the passenger, from fatal injuries in the event of accidents. *
- Back To Invoice
Policies like Bajaj Allianz bike insurance could cover damages differently, depending on whether you have a basic insurance plan, like a standalone own-damage coverage or a comprehensive one. The insurance provider, however, offers Insured Declared Value (IDV), which means the market price less depreciation in the event of a complete constructive loss, 70% beyond repair, or if the bike gets stolen. IDV includes both registration fees and road tax. Thus, it could be less than the invoice value paid at the time of purchase. RTI add-on fills the gap between the IDV and invoice price and could help you get paid for the invoice price rather than the IDV. **
- No Claim Bonus Protection
The insurer may reward the insured for not filing damage claims during the policy’s duration, ranging from 20–50% cost cuts. The insured can keep the money, transfer the policy, or pay a lower rate if no claims have been filed and the policy hasn’t lapsed. This provides concessions related to engine safety protection, tyre damage cover, daily allowance, consumables cover, and personal possessions or critical loss. *
In conclusion, add-ons can be vital for a two-wheeler owner who travels regularly or commutes on a motorbike since they provide a safe, hassle-free trip and, as a result, extra security beyond their base insurance plan.
Insurance makes you stress less in emergencies, especially financially. To choose the best bike insurance, check online. *
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*Standard T&C Apply.
** Tax benefit is subject to change in prevalent tax laws
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.
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