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Avoid Falling Prey to These 5 Misconceptions When Purchasing A Bike Insurance Cover

Angelina Greer by Angelina Greer
December 26, 2021
in Money
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A bike is essential in the present age for its convenience in travel. A motorcycle comes in handy from whizzing past through traffic jams and navigating the narrow lanes, especially in the urban jungles. But buying a bike is not the end of it. You need to ensure compliance by getting it registered and having an insurance certificate for it. But when you are scouting for a suitable bike insurance policy, there are various misconceptions that you mustn’t believe. Here are five such misconceptions clarified about bike insurance plans.

Bike Insurance Cover

Article Summary show
#1 Bike insurance is redundant and expensive
#2 You need only a third-party bike insurance cover
#3 Bike insurance is only needed in the event of an accident
#4 Buying a policy is dreary and onerous
#5 Your bike is immune from all perils

#1 Bike insurance is redundant and expensive

You might hear your peers saying bike insurance is unnecessary and is an additional expense. However, that isn’t the truth. Just as necessary to wear safety gear when riding a bike, it is equally essential to ensure adequate insurance coverage. Since accidents are uncalled and unexpected, whether due to your fault or not, it can have a significant financial loss for the repairs; at such time, bike insurance is what helps you stay protected from these financial losses that otherwise can put a dent in your bank account. When it comes to being expensive, not all policies are costly. Many affordable plans can be compared and selected using a two-wheeler insurance premium calculator.

#2 You need only a third-party bike insurance cover

A third-party bike insurance policy is the bare minimum you need to buy, and it isn’t the only coverage you need. There is another form of insurance plan that you must consider at all times: the comprehensive plan. This policy has third-party bike insurance cover as a part of it and includes own-damage cover and personal accident cover. With the help of such a comprehensive policy, you can stay relaxed, knowing your insurance plans cover the cost of repairs that may be required for your bike.

#3 Bike insurance is only needed in the event of an accident

The misconception around bike insurance policy stems from the most use of one is made in an accident. However, there are different add-ons that, when combined with your approach, provide far more benefits, including the cost of minor repairs, roadside assistance, facilitating services for lost keys, and much more. In addition, the comprehensive plan also provides coverage for theft, natural calamities, and artificial perils.

#4 Buying a policy is dreary and onerous

Gone are the days when you had to wait in queues to get insurance for your bike. With the help of digitization, buying a policy online is simple and efficient. Not only does all of the process get done in a few minutes, but it also is straightforward with no hassles. In addition to that, you can customize your policy, just like you could with the traditional paper-based way, and get the required coverage at the convenience of your couch.

#5 Your bike is immune from all perils

This misconception does not hold any ground. No matter how safely you ride your bike or how well you maintain it, there is always the possibility of accidents and other dangers. Natural calamities that are outside your control can damage your bike, and an insurance policy is the one that can safeguard against these kinds of financial setbacks.

So, the next time you come across these misconceptions, do not believe them, for you know the truth underlying them. 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.

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