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Bike Motor Floater Insurance

Motorbike owners in India are required to insure their vehicles to protect their funds in the event of unanticipated collisions, thefts, or damage. It protects you against costs related to damage to other people's cars as well as costs related to damage to your own vehicle. Riders may enjoy their time on the road worry-free when they have comprehensive insurance coverage that protects them from a variety of risks they may experience while riding their bikes.

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What is Motor Floater Insurance for bikes?

The term "motor floater" refers to a special kind of insurance policy designed specifically to provide comprehensive coverage for several bikes under the limit of a single policy. This coverage can be very helpful for people who own lots of bikes because it provides a hassle-free way to manage the insurance for all of their vehicles. People who own a large collection of motorcycles will find this coverage to be quite beneficial.

Key Elements:

  1. Consistent Coverage: This consolidates the coverage for several bikes into a single comprehensive policy, which streamlines both the insurance renewal procedure and maintenance.
  2. Affordability: Sometimes purchasing motor floater insurance is more affordable than purchasing individual policies for every bike due to possible discounted premiums.
  3. Nomination Flexibility: You can easily add or remove motorbikes from the policy. This offers simplicity and flexibility, especially for families or enterprises whose fleet size fluctuates frequently.
  4. Coverage: Motor floater insurance, like traditional bike insurance, can offer coverage for personal accident, own-vehicle damage, and third-party liability.
  5. Simple Claim Processes: Because all motorcycles are covered under a single plan, there is less paperwork and administrative labour needed, making the claim process simple and streamlined.

Perfect For:

  1. Families with many bikes.
  2. Businesses that offer a selection of motorcycles for delivery or other purposes.
  3. Individuals who collect different motorcycles and use them for different purposes.

Choosing this policy makes sense for people who are in charge of a large fleet of two-wheelers, as it was designed to be simple and convenient. Prior to completing a purchase, it is crucial to confirm that the Motor Floater Insurance satisfies all of your requirements by being well-versed in the terms, coverage, and limitations of the policy.

Benefits of Purchasing Motorcycle Motor Floater Insurance

A vehicle floater insurance policy for bikes offers various advantages to people and organisations who own multiple two-wheelers, such as the following:

  1. Management is Simplified: When several motorcycles are covered by a single policy, administration is expedited. It relieves the strain of needing to keep up with and renew several policies for every bike separately.
  2. Cost-Effective: Since this kind of insurance coverage can offer a lower premium rate for covering many motorcycles, which could result in potential cost savings, it is typically the most economical choice.
  3. Coverage Tailored To Your Needs: We provide the ability for you to add or remove bikes from your policy without having to go through any difficult processes.
  4. The Renewal Process Is Simplified by Consolidated Renewal With consolidated renewal, you'll only need to remember one renewal date per bike rather than multiple distinct ones.
  5. Consistent Policy Words All bikes insured by the insurance are subject to the same terms and conditions, which simplifies understanding and managing the coverage.
  6. Uncomplicated and Simple Claims Procedures: Since all of your vehicles are covered by one policy, which minimises the amount of paperwork and administrative labour needed, filing a claim is a straightforward and quick process.

Which Damages Are Covered by Motor Floater Insurance for Motorcycles?

Motorcycle motor floater insurance frequently covers the following types of coverage, though specific inclusions may differ from one insurer to the next:

  1. Coverage for Third-Party Liability: This shields the policyholder against potential legal obligations resulting from harm or losses incurred by third parties due to any of the insured motorcycles.
  2. Own Damage Coverage: The bikes are covered under Own Damage Coverage section of the insurance in case they sustain damage from an accident, collision, natural disaster, theft, or vandalism.
  3. Personal Accident Coverage: Personal Accident Coverage offers financial support to the owner-driver of a motorbike that is insured in the event that they are totally and permanently disabled or dies in an accident while operating any of the insured vehicles.
  4. Options for Add-Ons: The provision of extra coverage or add-ons differs throughout insurance companies. These kinds of improvements include, among other things, roadside assistance, engine protection, and zero depreciation.


The following are generally not covered by the policy, though specific exclusions may vary from time to time:

  1. Damages brought on by standard wear and tear or an electrical or mechanical system failure.
  2. Costs the rider incurs as a result of being inebriated from drugs or alcohol.
  3. The losses incurred when an insurance policy is not in effect or has expired and is no longer eligible for coverage.
  4. Losses brought on by nuclear dangers, uprisings, or hostilities.

Understanding the policy agreement in its entirety is essential before opting to buy auto floater insurance. All features and restrictions should be understood, and you should confirm that the coverage meets your needs and your expectations.

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How do motor floater policies work?

One kind of all-inclusive insurance policy designed to cover many motorcycles under one policy is the Motor Floater Policy. Here's a thorough, step-by-step breakdown of how it operates:

  1. Purchasing a Policy: The Motor Floater Policy buyer has the responsibility of ascertaining the entire number of bikes that need to be covered as well as the total coverage cost. Each motorbike insured by the policy receives an equal share of this total insurance coverage.
  2. Selecting motorcycles: Throughout the duration of their insurance, policyholders may add or remove motorcycles from their coverage as needed to meet their unique needs. The premium's price will adjust accordingly.
  3. Claims: In the event that a claim is filed for any of the bikes covered by the policy, the process for submitting a claim entails deducting the claim amount from the total sum insured. In the event that one motorcycle claims one lakh Indian rupees (INR), the remaining coverage for all motorcycles is two lakhs INR. This is an example of an insurance policy covering three motorcycles with a total value insured of three lakhs INR.
  4. Renewal: The insurance is subject to renewal each year. When the policy is renewed, the policyholder has the option to reassess the situation and make any required changes to the total amount insured as well as the number of bikes that are covered.
  5. Premiums: The amount paid for a Motor Floater Policy is usually determined by a number of variables, such as the selected sum insured, the age and brand of the motorbikes that are covered, the location, and the total number of motorcycles that are covered.

How Can a Motor Floater Policy Be Purchased?

The following stages are included in the straightforward process of purchasing a policy for a motor floater:

  1. Research: Start by reading up on the different Motor Floater Policies available in the industry and conducting some analysis on them. Think about getting insurance that offers the best possible coverage at a fair price.
  2. Select an Insurance Company: An insurance company with a solid track record, a high payout ratio, and exceptional policyholder service should be your first choice.
  3. Go to the official website of the insurer: To submit your application online, you can also use the website of an online insurance aggregator platform such as InsuranceDekho. Don't forget to include all the pertinent details about the bikes that need insurance and the necessary coverage.
  4. Add Bikes: In this section, you can enumerate any bike you want to be protected by the policy and include details about it, like the model, age, make, and registration number.
  5. Select Your Insurance: The amount of the sum insured and any extra coverage or add-ons that you would like to have included in the policy must be chosen.
  6. Calculate Premium: The system will analyse the data that has been provided to it in order to calculate the premium. Look over the coverage details as well as the premium details.
  7. Pay: To settle the outstanding balance, use one of the secure online payment options.

After the money has been successfully processed, the insurer will issue the Motor Floater Policy and send it to the email address you provided when you registered for the policy.

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    • What does "Motor Floater Insurance" mean specifically in relation to motorcycles?

      Bike motor floater insurance is a comprehensive policy that can insure many bikes under one premium. This gives individuals or businesses who own many bikes a straightforward and affordable insurance option.

    • What variables affect how much the monthly premium for the motor floater insurance will be?

      The age and brand of the bikes insured, the area, the level of insurance selected, and any additional coverage or add-ons chosen are all typically taken into account when calculating the premium.

    • Will I be able to add or remove motorcycles from coverage once I purchase the policy?

      The answer is yes, you can include or omit motorcycles from coverage under a motor floater policy. The rate will change based on the number of bikes covered by the policy.

    • How does the Motor Floater Insurance claim settlement procedure operate?

      The amount in question will be deducted from the total sum insured under the policy in the event that a claim is made. Coverage for each and every bike covered by the policy will remain in effect for the remaining insured amount.

    • Can I choose different accessories for every bike I own under the same policy?

      It depends on the insurance, is the response to this query. Most of the time, all motorcycles insured by the policy are subject to the same terms and optional features. On the other hand, certain insurers might offer insurance personalization for every single bike.

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    #Applicable on non-inspection cases i.e. existing policy has not expired or when buying a policy for a new vehicle.