Know How Two Wheeler Insurance Protects Your Bike from Fire Damages

A two-wheeler insurance policy is basically an agreement which is between the insurance company and the owner of the two wheeler, wherein if any damages takes place to the two wheeler, the owner can claim compensation.

Fire catching our bike is an unfortunate and unforeseen event that can take place anytime anywhere. So, it is very important for the owners of the bike to insure the bikes. We have to make sure that we take the right cover in our insurance policy.

Two-Wheeler Insurance Plans that Cover Fire Damages

As we want to insure our bikes so we need proper insurance plans and how they protect our bikes from fire damages. So, let us read about such plans and their protection from fire damages which are mentioned below.

1. Standalone Own Damage Two-Wheeler Insurance Policy

This insurance policy ensures and gives financial protection against the damages that are caused to our vehicle. This policy includes damages such as caused by natural calamities, accidents, theft and fire. 

Fire damages are only considered when the flames are visible and then only it will be compensated by the insurance company. Whereas if the damages are caused because of overheating of the engine then it will not be compensated by the insurance company.

2. Comprehensive Two-Wheeler Insurance Policy

We all are aware of the term ‘comprehensive’ which means overall protection. Comprehensive Insurance Policy gives protection for the damages that are caused due to own. For eg- Fires,man-made calamities, theft etc.

3. Third Party Two-Wheeler Insurance Policy

It is one of the two-wheeler insurance policies which helps to cover the financial liabilities which are basically claimed by a third party, on an accident when the fault is at the insured bike. It is mandatory by the government of India Motor Vehicles Act.

4. Compensation that will be received in case of fire damages

Now one thing that comes to our mind is how much compensation we will receive after fire damages to our two wheeler. The compensation we will receive will be decided by the Insured Declared Value of the policy. It also depends on the terms and conditions that are mentioned in our particular insurance policy. In case of the damage of the bike which can’t be repaired, it is considered as a total loss and the compensation of the amount will be the IDV that is mentioned in our particular insurance policy.

Conclusion

Bike insurance is very important for the damages that are caused which are unpredictable for us. In case of fire damage it is important to have an insurance policy. Here we got to know about the plans and the protection that the plan provides in terms of damages, so it will be clear for us to opt for which insurance policy for the car. And the best way to identify the two-wheeler policy is to compare between the premium that are we are paying along with the coverage or the compensation we are getting in return.

Also read: Know Everything About Cashless Claims In Two Wheeler Insurance Policies!

The Benefits Of Long Term Third Party Two Wheeler Insurance Policy