What Your Bike Insurance Does Not Include?
A two-wheeler has become an important mode of transport, especially in urban areas. In recent years, the two-wheeler industry in India has witnessed a massive expansion owing to its increasing demand amongst the middle-class population. This increase in demand for two-wheelers has led to a significant increase in insurance providers and the types of plans they provide. Two wheeler insurance is important as it provides coverage against a variety of expenses that you may have to bear in the event of an accident.
However, bike insurance plans do not cover losses that occur due to certain parameters. Some of them are mentioned below:
- Bike insurance does not cover loss or damage caused to your vehicle due to over speeding.
- Your two wheeler policy will not provide for loss or damage caused while riding someone else’s bike.
- When purchasing two wheeler insurance, you should mention the names of all those who might ride the bike. This is because Loss or damage caused to your vehicle by an unauthorized driver will not entitle you to file a claim.
- Two wheeler insurance plans do not cover the mechanical or electrical failure of the vehicle.
- Loss or damage to your two-wheeler that results while driving outside the geographical area mentioned in the policy will not be covered.
- Ensure that you have a valid driving license. Because the policy won’t cover the loss or damage caused by an invalid license holder.
- Driving under the influence of alcohol or drugs should always be avoided. Not only does it put your life at risk but also bike insurance plans do not cover any loss or damage resulting in such cases.
- Bike insurance does not provide coverage loss or damage due to radioactive or nuclear-related activities.
- The loss or damage to a two-wheeler as a result of riots or terrorism is not covered.
- The policy will not cover the loss or damage if you lose the keys of your bike or you accidentally leave them on the bike and your bike gets stolen
- Do not use your two-wheeler for commercial purpose without informing your insurer as it might lead to rejection of your claim.
- Lastly, loss or damage to helmets and any other protective clothing is excluded from bike insurance plans.
To increase your coverage you can also read the difference between third party and comprehensive insurance.
With leading Non-Banking Financial institutes like Finserv MARKETS, you can buy bike insurance online in a hassle-free manner. So why wait? Purchase your two wheeler policy on our platform today.
Read our top blogs to know more about two wheeler insurance in India:
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