A comprehensive cover insurance policy is a complete two-wheeler coverage that covers not only your vehicle against damage and theft but also third-party liability.
While third-party bike insurance is mandatory, Comprehensive motorcycle insurance, on the other hand, is optional in India. Two-wheeler insurance with comprehensive coverage can be purchased online to ensure that you and your two-wheeler are completely safe.
Comprehensive bike insurance, meaning complete bike insurance is always advised for every bike rider to have.
Comprehensive Two Wheeler Insurance Coverage
The biggest feature of comprehensive bike insurance coverage is that it safeguards you as well as the third party. Following are the important components of comprehensive insurance:
1. Personal Accident Cover
Comprehensive two-wheeler insurance policies offer a personal accident cover of up to Rs.1 lakh, guaranteeing that the policyholder is protected in the case of an accident that results in entire or partial permanent or temporary disability, death, or even death.
2. Protection for the cost incurred due to damages
A comprehensive two-wheeler insurance policy financially protects policyholders by covering the costs of repairs and replacements for their two-wheelers due to normal wear and tear. It makes no difference if the car is damaged as a result of natural disasters or human error; the insurance provider will cover the costs and restore the vehicle to its pre-loss condition.
3. Coverage against third-party
A comprehensive two-wheeler insurance policy will cover the costs of an accident in which you cause damage to another person's property, as well as potential bodily harm or death. As a result, if a claim is made, the insurance company will only pay out a certain amount of money as specified while buying the policy.
4. Coverage against death or injury
A comprehensive two-wheeler insurance policy protects both the rider and the pillion passenger for bodily injury, as well as the policyholder's death in the event of an accident.
Why are Comprehensive Two-Wheeler Insurance Plans Beneficial?
Here are some of the key benefits offered by comprehensive bike insurance plans:
- It protects your vehicle from loss and damage caused by human-induced events such as theft, burglary, and rioting.
- Additionally, it covers damage or loss to the vehicle resulting from natural catastrophes such as floods, earthquakes, tsunamis, thunderstorms, and hurricanes.
- Self-Defense for Your Own Vehicle — If the insured two-wheeler is repairable, a comprehensive coverage plan covers the fixed costs. The policyholder may claim the two-wheeler's IDV if the bike is fully lost or if the two-wheeler vehicle sustains irreversible damage.
- Coverage for Damage to Two-Wheelers – Comprehensive coverage protects your vehicle not only from collision-related damage but also from loss or damage caused by other man-made or natural catastrophes.
- Covers Personal Injuries – These forms of two-wheeler all-inclusive insurance policies also cover personal injuries or injuries to the two-rider. The policy's proposer may or may not be the rider. If the rider holds a valid driver's license, the comprehensive plan will cover the rider's medical expenses in the event of an accident.
- Coverage for Death or Disability of the Rider - One of the benefits of a comprehensive two-wheeler policy is the breadth of its coverage. It not only covers medical expenses in the event of a bike rider's accident but also provides financial assistance in the event of a rider's physical disability, as well as death benefits in the case of a two-wheeler rider's death.
Comprehensive Insurance Versus Third-Party Liability Insurance
Comprehensive insurance is always a superior form of two-wheeler insurance as compared to third-party coverage. It has substantial advantages over the latter.
- 1.Damage to the insured vehicle: While comprehensive two-wheeler insurance provides coverage to your vehicle in case of an accident, third-party insurance only covers the damages caused to the vehicle of the other party in case of a collision.
- 2.Injuries to the rider: Also, the comprehensive coverage plan provides for the hospitalization and treatment of the policy owner when a mishap occurs. The third-party insurance only covers the damage caused to the third party in the accident.
- 3.Disability or Death: The insurance company gives compensation to the injured person if the driver or passenger of the vehicle is wounded in a collision. The death of the policyholder is also covered. Medical costs may be outrageously expensive in such instances, therefore financial assistance might be a lifesaver for the unfortunate person's loved ones.
Hence, comprehensive bike insurance is a must-have for everyone who rides a bike on the Indian roads. It not only safeguards you from the liabilities arising towards a third party but also gives you the much-needed cover to safeguard yourself against road accidents.
