Inclusions And Exclusions Of Two Wheeler Insurance

Inclusions And Exclusions Of Two Wheeler Insurance 

Bajaj allianz bike insurance covers the vehicle and its owner by providing protection against potential monetary liabilities that may develop in the event of accidents. Two-wheeler insurance is essential to buy when buying a motorcycle in order to protect your vehicle from unplanned mishaps. Before buying a two-wheeler insurance coverage, one needs to be well informed about it and understand all of its includes and restrictions.

Let’s talk about what your two wheeler insurance policy includes and excludes.

Types of two-wheeler insurance options

• Liability-Only Insurance Policy – It is required by law in India to have third-party liability insurance. It protects against third-party property damage, loss, passing away, or physical harm as a result of an accident brought on by the insured’s two-wheeler. *

• Plan for third party insurance inclusions – Bike third-party insurance protects the insured from any legal obligations to third parties in the event of a third party’s passing away or injury in the event of an accident.

• Third party insurance plan exclusions – The bike insurance third party liability coverage does not cover any damage brought on by a non-collision. The cost of repairs must be covered by you. Only third-party liabilities will be covered by the plan, leaving your own car unprotected in the event that it sustains damage in an accident. The business pays victims who file claims for damages. You must pay out of pocket to have your bike fixed. This plan does not provide coverage for any damage to the car caused by theft or natural disasters.

• Comprehensive insurance policy – This insurance policy provides additional coverage for damage to or theft of the two-wheeler in addition to all that is covered by a third-party liability policy. This rule is optional, nevertheless. The comprehensive Insurance plan covers damage to your car that results from something other than an accident. It covers both the third-party coverage as well as any harm done to your own car in the collision. The biggest feature of comprehensive two-wheeler insurance is that it provides protection against losses brought on by quakes and other severe weather events. You can make a claim if your two-wheeler is stolen. After a few months, it is declared to be untraceable, and you will receive reimbursement depending on the motorcycle’s current market worth. You can even claim for a personal accident cover in bike insurance.

• Comprehensive insurance plan exclusions – Only when you are using a valid licence to drive are you eligible for the coverage. The insurer doesn’t provide any reimbursement if you happen to be in an accident while driving without a licence that is current. In the same way, a claim will not be considered if the driver was driving the car while under the influence of alcohol or drugs at the time of the collision. If you operate the vehicle outside of the policy’s defined geographic area, you are not eligible to make a claim for the coverage. Any damages that occur outside of the country will not be covered by this plan, and the coverage will be applicable all across the nation.

Each insurance company may have its own includes and exclusions. Therefore, make sure you carefully study the policy document, paying particular attention to the exclusions and the procedure for filing an insurance claim. You’ll avoid confusion and potential litigation by doing this.

Before purchasing, make sure to review the bike insurance contents and exclusions. This will assist you in selecting the offer that best meets your needs and financial constraints. Additionally, it will assist you in comprehending the coverage that the insurance provides, and you can use it as needed including availing of a personal accident cover in bike insurance.

* Standard T&C Apply

** Currently, there are 2 tax regimes in India – new and old. To get the tax benefit you desire, choose the correct one after consulting an expert. You can opt for a regime change during the next financial year.

# Visit the official website of IRDAI for further details.

## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply

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Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.