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Comprehensive bike insurance provides coverage for damages incurred by both the insured and third parties involved in an accident. It offers extensive protection by covering accidental damage, theft, natural and man-made disasters, complete loss of the vehicle, and even fire explosions. Additionally, you can enhance the coverage of a comprehensive plan by opting for add-ons that require an additional premium.
This type of insurance covers damages or losses caused to a third party or their property by the insured vehicle. It is mandated by the Motor Vehicle Act and provides essential coverage for any third-party liability. If your bike causes damage to a third party during an accident, the insurance company will cover the repair costs.
Standalone own-damage insurance specifically covers damages to the insured bike and the policyholder resulting from accidents, theft, fire, or other mishaps. It is suitable for those who already have a third-party liability cover and wish to have their own damage coverage separately.
1. Notify your insurance company immediately.
2. Take your bike to a preferred garage for repairs.
3. The insurance company’s surveyor assesses the damages.
4. The surveyor prepares a claim report.
5. The insurance company approves cashless repairs.
6. Repairs are completed, and the insurance company settles the claim.
7. File a police FIR for third-party claims.
8. In case of theft, file a police FIR and submit the certificate to the insurance company for claim processing.
Note: Remember that the specific coverage details may vary depending on the insurance provider. It’s advisable to review the policy documents for precise information about coverage.
There are instances that are not covered under bike insurance policies and they are called policy exclusions.
1. Accidents suffered when the bike is being used without a valid driving license.
2. Accidents suffered when the bike is being used outside the boundaries of India.
3. Accidents suffered when the bike is being used under the influence of drugs and/or alcohol.
4. Accidents suffered when the bike is being used against the limitations of its use.
5. Accidents suffered when the bike is being used for criminal activities.
6. Accidents suffered when the bike insurance policy lapsed.
7. Depreciation of the bike.
8. Normal wear and tear of the parts of the bike.
9. Electrical or mechanical breakdowns.
10. Damages suffered due to war, mutiny, rebellion, nuclear threats, etc.
11. Consequential losses.
Note: Remember that the specific coverage details may vary depending on the insurance provider. It’s advisable to review the policy documents for precise information about coverage.
CoverMitra Insurance Broking Pvt. Ltd. is an IRDAI-authorized insurance broking firm that aims to simplify insurance for its customers to make Smart Choices.
IRDAI License No. 600 Valid till: 01/06/2026
Incorporation date 10/10/2016
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