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A bike ride can be more fun when you are riding insured! Bike insurance comes as a protection against unexpected and untimely losses, and is like an assurance of financial support at the time of any mishap be it an accident, theft or a natural disaster.

Types of Bike Insurance policies

Insurance companies in India offer policies that suit the varying needs of people. People can choose to buy a policy that is in their budget and meets their requirement. Mainly, there are two types of bike insurance policies offered in India, which include –

Liability Only

A liability only insurance provides coverage against any loss or damage caused by the vehicle insured to third party. It covers all personal damages, injury, and loss of property or death of the third party because of the insured bike. A liability only insurance policy is mostly designed to provide coverage to the third party.

However, there are certain insurance companies that also provide accidental death coverage to the owner in addition to the third party coverage. The insurance company partly covers the expenses in case of any accidental injury to the owner.

As per the Indian law, a liability only insurance is compulsory for all bike owners.

Comprehensive

A comprehensive bike insurance policy is generally known to provide coverage to both the rider and the third party. It gives financial coverage against any loss or damage to the vehicle, its owner and the third party occurring due to man-made or natural calamities.

Through a personal accidental cover, the rider of the vehicle receives coverage under this policy while the co-rider can be covered as an add-on.