Last updated on – 01 January, 2017

bike-insurance

Riding a cool bike is kind of a style statement of youngsters today, and while talking about bikes coming in this era, you just can’t keep your mind still. There are a variety of bikes today, which takes a lot of money and provide a great vehicle to go on with. But you must have heard that ‘With great Power, there come great responsibilities’. The power comes with the bike but its control stays in the rider’s hands. That’s why we can say that no one understands the worries which come with the great bills of the bike after accident better than riders.

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For a rider, a bike is like his/her better half. They take care of their bike not only for their own sake but also for protecting their bike from damage. Still, no one is perfect so there is also a bit of fear of meeting from an accident. I’ve heard a quote , “Precaution is better than cure”. So why not be always take some precautions before meeting from an accident. The major precaution we can take is of Insurance. You might think that this is kind of a boring thing isn’t it? Believe me, it’s not.

Amitabh Jain, head, customer service, motor, ICICI Lombard says, “While the number of two wheelers is growing exponentially every year, the number of vehicles falling out of the insurance net is also very high. More than 2/3rd of old two wheelers go uninsured. Keeping this in view, having a long-term insurance option for this segment becomes critical so that the maximum number of vehicles are covered by insurance.”

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No matter how much safely you drive, you always have a bit percentages of getting hit by something or you might not be having a good day. Insurance can protect you from heavy bills and expenditure after the damage, after being insured you at least don’t have to worry about heavy bills and damage expenditure you will have to go through after the accident. There are many ways by which an insurance can help you, let’s have a look how this small paper agreement can light the weight of your worries.

Medical Expenses

Insurance will cover all of the medical expenses of the rider if the rider is injured while riding. It not only covers the accidents by other vehicles but also covers the accidents happened in the case of a landslide, drifting of the bike , loss of balance etc.

Collision Coverage

Collision coverage will cover all of the expenses of another vehicle if you are the victim of that accident.

Property Damage to Bike

This part of the insurance will not only cover the accidental part but will also cover the theft and vandalism part of the victim. This covers all of the loses of the victim which after an accident from bike to himself/herself.

Lost Wages

By this, you will be provided wages during the time of your recovery of an accident. After being injured you could also suffer expenses while not going to the office and many other things. At this time insurance will allow your wages to cover your losses.

Comprehensive or Total Loss Coverage

Under this policy, the insurance company covers all the expenses due to your accident. Sometimes the repairing cost of the vehicle exceeds the value of its policy this will result in a ‘Total loss’. If a scenario like this happens, the insurance company will help you in expenses.

Road-Assistance in Case of Breakdown

This is the most casual case which can happen to anyone while traveling with your vehicle. Any vehicle can get a breakdown in the middle of your way, as it is a machinery. Either small or big, breakdown can happen at any moment and will suddenly leave you helpless. In this case, the insurance company will help you by assisting or in any way to overcome that situation.

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