A bike is essential in present age for the convenience it offers in travels. From whizzing past through traffic jams and navigating the narrow lanes, a bike comes handy, especially in the urban jungles. But buying a bike is not the end of it. You need to ensure compliance by getting it registered as well as 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.
#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 important it is to wear safety gear when riding a bike, it is equally important to ensure adequate insurance coverage. Since accidents are uncalled and unexpected, whether due to your fault or not, it can have significant financial loss for the repairs. At such time, a 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 expensive. There are many affordable plans that can be compare 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, it isn’t the only coverage that you need. There is another form of insurance plan that you must consider at all times is the comprehensive plan. This policy not only has third party bike insurance cover as a part of it, but also includes own-damage cover along with personal accident cover. With the help of such comprehensive policy, you can stay relaxed knowing your insurance plans covers 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 since the most use of one is made in the event of an accident. However, there are different add-ons which when combined with your policy provide far more benefits like including the cost of minor repairs, roadside assistance, facilitating services for lost keys and much more. In addition, the comprehensive plan also incudes coverage for theft, natural calamities and also man-made perils.
#4 Buying a policy is dreary and onerous
Gone are the days when you had to wait in queues to get an insurance for your bike. Now with the help of digitisation, buying a policy online is simple and efficient. Not only does all of the process get done in a few minutes, but also is straightforward with no hassles. In addition to that, you can customise 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 accident and other dangers. Natural calamities that 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 it. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.