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Importance Of Buying Theft Cover Under Bike Insurance

Wish

Written by Sharad Bajaj

Updated Mar 20, 2021

There are many benefits of a comprehensive bike insurance policy and one of them is theft cover. Theft cover can help you subdue the financial hardship if your bike is stolen.

Because of their small size and easy maneuverability, two wheelers are becoming an increasingly preferred mode of transport as they make commutes extremely easy, making it easy to zip through traffic. However, for the exact reason of its small size, and the increasing number of two wheelers on Indian roads as well as people’s tendency to invest in superbikes, theft of two wheelers is on the rise. As is also the case with bikes, they are difficult to trace and the recovery rate after a theft is quite low. For this reason, it is highly advisable to avail of a comprehensive bike insurance policy to get a good and robust theft cover for your bike, so that you are protected from financial loss in the unfortunate instance that your bike is ever stolen. Let’s read all about theft coverage, its importance, and how it works.

What Is Theft Cover In Two Wheeler Insurance And Why Is It Important?

Under comprehensive bike insurance, you get a variety of coverages for your two wheeler. Comprehensive bike insurance is beneficial as it protects not only the third party involved in any accident with your vehicle but also gives you coverage for damage to your own vehicle, such as total damage or loss, or the replacement of parts in case of an accident. Importantly, it gives you theft cover in case your vehicle is stolen and for this reason you are recommended to purchase comprehensive bike insurance so that you are well protected in any scenario that may arise to do with your bike.

Here are the reasons why theft cover is important:

1. Low Recovery Rate

The rate of recovery of stolen vehicles is low overall, but even lower when it comes to two wheelers as compared to cars. For this reason, you do not want to be caught in a situation where your two wheeler has been stolen and you have no recourse or financial cushion.

2. High Risk Of Theft

Two wheelers are also at a higher risk of theft, as they are easy to move from one place to another and even with anti-theft technology they can often be stolen with ease. Especially if you have invested in a superbike which attracts attention, you are recommended to purchase an insurance policy with a theft cover.

3. Financial Benefit

In case your two wheeler is stolen, and the police and bike insurance company are unable to recover it, you would be paid the amount for which your vehicle is insured. It is surely a great loss if your two wheeler is stolen but this financial assistance can subdue some of the hardship and thus is highly recommended.

Takeaway

Theft cover for two wheelers is extremely important due to the high theft risk associated with two wheelers. You are advised to purchase a comprehensive two wheeler insurance policy with theft cover for this reason.

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Disclaimer: This article is issued in general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

Wish

Written by Sharad Bajaj

Sharad is an insurance industry veteran who has managed motor insurance products for over a decade. Read More

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