What Should Your Two Wheeler Insurance cover?

Buying a bike or scooter is not that hard a task. However, choosing a model that you want to buy isn’t quite that easy. You go through a number of models and makes before you get to the one you want to buy. Similarly, buying two-wheeler insurance does not mean that you simply buying the first insurance that is offered to you. You need to be diligent,look around, and compare the different policy options before you choose the one that suits you the best.

Types of Insurance Covers

Before you look at the different policies, you need to know more about the broad classification of the types of insurance. Vehicle insurance for two wheelers can be divided into two different categories:

Liability Only Policy

This policy, also known as the third party cover, is the minimum mandatory requirement in vehicle insurance. Whether you are insuring a four-wheeler or a two-wheeler, you are required by law to buy a third party cover. This policy only provides coverage against third party liability. If you cause an accident that results in the injury or death of a third party, or damage to a third party property, the insurance policy provides coverage for the liability.

Comprehensive Policy

Comprehensive two-wheeler policies include a third party liability cover by default. These policies however, also offer a number of other benefits to people who buy them. Apart from covering third party liability, a comprehensive policy also provides coverage for damage incurred by you or your vehicle, due to a cause listed in the policy.

What Should Your Two Wheeler Insurance cover?

If you choose to do the bare minimum and buy only a third party liability cover, the only thing that you need to consider is the sum insured and the premium. However, when it comes to buying comprehensive vehicle insurance, there are a lot of factors that you need to consider. Some of the factors that any good insurance policy should cover are as follows:

Natural Calamities or Events

This category can include floods, earthquakes, fire, hurricanes, lightning, storms or typhoons, explosions, self-ignition, etc. It is very important that you go through the list of inclusions in the policy under this category. The policy should cover the repair work for any damages that are incurred because of these occurrences. It should also compensate you in case of loss of life or bodily harm caused to the riders.

Manmade Calamities

This category includes the harm or damage that can happen to your vehicle as a result of human activities. It can include accidents, thefts, malicious acts, etc.

Personal Accident Coverage

The insurance should offer you a personal accident cover as well. An accident on a two wheeler can cause a lot of complications; it may even lead to permanent or temporary disabilities. A personal accident cover offers compensation in such situations. Some policies also cover the pillion rider under this cover.

Protecting Your Legal Interests

As mentioned above, buying a third party cover is anyway mandatory in India, and you get that includedin a comprehensive cover as well.

Add On Covers

Not everything is covered in an insurance policy. If you need extra coverage and protection, you need to opt for add-on covers that meet your requirements.

Which policy you buy, liability only or comprehensive is entirely up to you. However, you need to ensure that your two-wheeler is optimally insured and that you renew your two-wheeler insurance on time.

Know more on man-made calamities for bike insurance theft cover

**To understand exactly about the policy coverage, exclusions etc read the Policy Wordings carefully.**