Exclusions In Bike Insurance Policy

Many of you are unaware of the coverages as well as benefits of the policy, despite the fact that you are aware that, according to Indian traffic rules, a bike insurance policy is required. Many of you merely get bike insurance online in order to comply with the law and do not think about the coverage that is provided.

This is an error. You wouldn't be able to file a claim without understanding what your bike insurance policy does and does not cover. Thus, the terms and restrictions of your bike insurance policy must be understood. To know more about the exclusions in bike insurance policy, read on.

Is Bike Insurance Helpful?

It protects your legal responsibilities, which is the main advantage of obtaining bike insurance coverage from reputable firms. If you don't have insurance, it will protect you from the harsh fines the traffic police may levy.

When an accident involving your bike affects a third party's life or property, you are responsible for paying the related costs. Having decent bike insurance coverage will protect you from the associated legal obligations in this circumstance. You will benefit in this circumstance even if you have a simple third-party policy. It costs a lot less than complete insurance packages.

If you choose comprehensive bike insurance, you have the right to reimbursement if your bike is stolen or suffers damage in an accident. Even damage resulting from man-made calamities and natural disasters is covered by insurance.

How Are Bike Insurance Helpful?

There are two different kinds of insurance policies available in the market. You may choose the one that both meets your insurance needs and your financial constraints. Third-party insurance is the least expensive choice, and comprehensive insurance is available if you have extra money to spare.

When your car is in an accident and damages a third party's property or life, the third-party protection shields you from liability. Keep in mind that the policy does not cover harm caused to your own bike. The full plan, however, provides improved protection and even pays for damage to your bike as well as third-party liabilities. This makes it the finest two-wheeler insurance policy for brand-new motorcycles, and you'll be totally covered if your bike is ever damaged.

Exclusions In Third-Party Bike Insurance Plan

 The following are reasons to get exclusions in third-party bike insurance -

1.  It is crucial to remember that the third-party plan will not pay for any damage caused by a non-collision. The cost of repairs must be covered by you.
2. In the same way, the plan only covers third-party liabilities; your car won't be insured if it sustains damage in a collision. While the business pays victims who file claims for damages, you are still required to pay out of pocket to get your bike fixed.

Exclusions In Comprehensive Bike Insurance Plan

 The following are reasons to get exclusions in a comprehensive insurance plan -

1. Keep in mind that coverage will only be offered if you are using a valid licence issued by the regional transportation authority. Compensation may not be paid out if you cause an accident without the need for a licence that is current.
2. In the same way, reimbursement will not be given if it is shown that the motorist was driving while intoxicated at the time of the collision.
3. When you use the car outside of the policy's stated geographic area, you won't be covered. Any damages that occur outside of the country are not covered by this plan, and the insurance will be applicable all over the nation.

Endnotes

Knowing insurance inclusions and exclusions gives you a better understanding of what is and is not covered by third-party and comprehensive auto insurance plans.

Also Read: 

Can Bicycle Insurance And Bike Insurance Be Covered In The Same Plan?

Do You Need E-bike Insurance for Your E-bike in India?