Bike Insurance in Udyog Bhawan

Own-damage Bike Insurance

Own-damage bike insurance, also known as comprehensive bike insurance, provides coverage for damages or loss to your own bike due to various incidents such as accidents, theft, fire, natural disasters, and vandalism. This type of insurance is not mandatory but highly recommended to protect your bike from financial liabilities.

The coverage typically includes:

1. Accident damage: If your bike gets damaged due to an accident, the insurance company will cover the expenses for repairs or replacement up to the insured value of your bike.

2. Theft: If your bike is stolen, the insurance company will compensate you for the insured value of the bike.

3. Fire damage: In case your bike catches fire and is damaged or destroyed, the insurance company will cover the repair or replacement costs.

4. Natural disasters: If your bike suffers damages due to natural disasters like floods, earthquakes, cyclones, etc., the insurance company will cover the repair or replacement costs.

5. Vandalism: If your bike is intentionally damaged by someone, the insurance company will cover the repair costs.

It is important to note that own-damage bike insurance does not cover damages or injuries caused to third parties or their property. For that, you need to have a third-party liability insurance which is mandatory in many countries.

To get own-damage bike insurance, you can approach insurance companies or use online platforms that provide insurance quotes and policies. The premium for own-damage bike insurance depends on factors like the make and model of the bike, its age, your driving experience, the location where the bike is used, and your claim history.

Having own-damage bike insurance provides peace of mind and financial protection in case of any unfortunate incidents. It is advisable to compare policies and choose the one that best suits your requirements and budget.

Key Features of Own-damage Bike Insurance

1. Coverage for theft or damages: Own-damage bike insurance provides coverage for theft or damages caused to your bike due to accidents, fire, natural disasters, vandalism, or other perils.

2. Personal accident cover: This insurance policy also typically includes a personal accident cover for the bike owner, providing financial compensation in case of an accident resulting in disability or death.

3. Third-party liability coverage: Own-damage bike insurance also includes third-party liability coverage, which compensates for damages or injuries caused to third parties or their properties due to an accident involving your bike.

4. Add-ons for enhanced coverage: Many insurance providers offer additional optional covers or add-ons that can be purchased to enhance the coverage of your own-damage bike insurance. These may include coverage for engine protection, roadside assistance, zero depreciation, accessories cover, and more.

5. Cashless claim settlement: Most insurance providers have tie-ups with a network of authorized garages, where you can avail cashless claim settlement in case of repairs or damages to your insured bike. This eliminates the need for upfront payment and reimbursement later.

6. No Claim Bonus (NCB): If you do not make any claims during the policy period, you can earn a No Claim Bonus, which is a discount on the premium for the next policy year. This encourages safe riding and provides cost savings.

7. Flexibility in coverage duration: Own-damage bike insurance policies are available for various durations, such as one year or three years, allowing you to choose the duration that suits your needs and preferences.

8. Online policy purchase and renewal: Many insurance providers offer the option to purchase or renew own-damage bike insurance online, making it convenient and hassle-free. You can compare different policies, calculate premiums, and make transactions easily through the insurer's website or mobile app.

9. Customizable coverage: Own-damage bike insurance typically offers the flexibility to customize the coverage as per your requirements. You can adjust the insured declared value (IDV), choose the deductible amount, select add-ons, and tailor the policy as per your needs.

10. Third-party claims support: In case of an accident involving a third party, own-damage bike insurance provides support for the necessary legal procedures and settlement