Bike insurance for super bikes

Super bikes, also known as sports bikes, help you travel long distances at high speed. These bikes have great speed, agility and aesthetic appeal compared to other regular bikes. Sports bikes also feature an engine with 600cc or more due to which the frequency of accidents on this type of bike is higher compared to others. Hence, buying insurance for a sports bike is essential. Moreover, the third party insurance cover is mandatory to purchase as per the Motor Vehicles Act, 1988. Read this article to know all about bike insurance for super bikes.

A sports bike or a super bike can be defined as a bike that is designed and optimized to operate at a high speed. These bikes have an engine capacity of 600cc or more. These bikes are also known as racing bikes owing to its superior sporty element compared to a standard bike. This type of bike is expensive compared to other bikes due to which the cost of bike insurance for sports bikes is also high.

The chances of an accident on a sports bike are more compared to regular bikes as the bike is operational at a pretty high speed. Sports bikes are also not fully insulated due to which the chances of mishaps, natural calamity, etc. increases. Thus, buying bike insurance for superbikes is imperative as these bikes are high in value and also because they feature expensive spare parts.

You can choose from over two types of bike insurance for your superbike i.e. third party bike insurance or comprehensive bike insurance. Third party bike insurance is mandatory as per the law under the Motor Vehicles Act, 1988, whereas, buying comprehensive bike cover for sports bikes is optional. Buying comprehensive cover for a sports bike is ideal as it offers coverage against third parties as well as damage. A comprehensive bike insurance for super bike offers the below coverage:

• Third party liability:

  This type of cover is mandatory as per the law; it provides coverage against third party person, death, disability and also covers third party property damages. The premium for this type of insurance is decided by the IRDA. In case of property damage, the maximum compensation offered is 7.5 lakhs.

• Own damage protection:

  As the name suggests, this type of insurance covers the cost of damages caused to your own superbike or that of the others. It also covers third party person or property damage. The coverage under this type of insurance is provided based on policy terms and conditions. The premium too depends on the coverage offered by the insurer.

• Bike insurance add ons:

  If you choose comprehensive bike cover for your superbike, then you can get additional coverage by opting for add ons such as engine protection, roadside assistance, pillion cover, NCB protect, etc. These riders come at an additional cost and can be chosen as per your requirement.

• Coverage for legal liabilities:

  An accident can not only cause damages to your vehicle or cause injury to you or other vehicles, but can also land you in legal trouble. Thus, under comprehensive insurance you can also claim legal coverage.

• Natural and man made calamities:

  Buying comprehensive cover for a super bike ensures that you get coverage against natural and man made calamities such as flood, cyclone, hailstorm, earthquake, etc.

• Theft:

  Own damage coverage for a super bike also protects you in case your bike is stolen. Coverage up to the insured declared value is offered in case of theft or total loss of the vehicle i.e. if the cost of vehicle repair is more than 75% of the insured declared value.

Super bike insurance does not offer any coverage in case of the following:

• Riding under influence of drugs or alcohol
• Riding without a valid driving license
• Overspeeding
• Mechanical or electrical breakdown of your vehicle
• Riding outside geographical limits
• Using the vehicle for commercial purpose

Looking to reduce sports bike insurance premium? Here are a few tips to follow.

• Declare the right insured declared value
• Compare bike insurance online
• Consider installing an anti theft device
• Drive safely as no claim bonus can help you get discount up to 50% for five claim free years
• Renew your insurance regularly
• Install less accessories

Why is the premium for sports bike insurance expensive?

• Sports bike are expensive compared to regular bikes, hence the premium for insuring these vehicles are higher
• Spare parts of a sports bike are expensive
• These bikes are attractive compared to regular bikes and hence increasing the risk of theft
• Addition of additional accessories to the bike increases its costs
• The cost of insurance for super bike is higher as they feature engine with high cc