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7 Unknown Facts To Buy Bike Insurance Online

Bike Insurance Online

by Square Insurance
7 UNKNOWN FACTS TO BUY BIKE INSURANCE ONLINE.

Bike riding is legal in India. All the people who have attained the age of maturity, i.e 18 years of age can ride a bike. However, All bikers are bound by law to have bike insurance. They cannot ride a bike without insurance on the public roads of India. And it’s very easy to buy bike insurance online in India.

Without bike insurance, riding a bike will render punishments under the law for the time being in force. Therefore, it is necessary to have a legal license with insurance for your bike. But getting insurance covered becomes a hectic job for a rider. 

Sometimes, you are unaware of the insurance offers and tend to pay more than expected. You must keep in mind the coverage, benefits, inclusions or exclusions of bike insurance. In this article, we have provided seven unknown facts for buying bike insurance online. So gear up and read till the end. 

WHAT ARE THE BIKE INSURANCE UNKNOWN FACTS THAT YOU MUST BE AWARE OF?

To buy bike insurance online, plans are chosen according to the user’s needs. The programs are for one, three or five years, etc. A bike user needs to renew it accordingly at the time of the renew bike insurance. A bike user can opt for new and modified insurance covers instead of the previously chosen cover at the time of the renewal.

People are always entangled in the coverage or the exclusions of the bike insurance plan. A user must be aware of the facts to consider with regard to bike insurance for bikes. Following is a list of the things of unknown facts about buying bike insurance online:

  1. CUSTOMISATION OF THE BIKE INSURANCE.

While buying bike insurance online, you have to consider some essentials—for instance, engine’s capacity, bike model, date of manufacturing, location, etc. You can customise your bike insurance according to your bike requirements. If you are looking for add-on covers for your bike insurance, you can easily customise it with your bike insurance. 

However, In case you are a sports bike owner, your bike insurance must constitute an engine protection cover, personal accident cover, zero depreciation cover, anti-theft device cover, etc. All this can be covered in your insurance with the customisation of your insurance plan. 

  1. CASHLESS FACILITY OF THE BIKE INSURANCE.

To buy insurance for a bike, many insurance companies offer cashless claim facilities. It would be best if you chose it at the time of buying.  This cashless facility will provide multiple benefits to you. Whenever you take your bike for any repair, you will not pay a single penny. All the expenses will be covered for you under this cashless facility.

  1. LEGAL PROTECTION BY THE INSURANCE.

To buy bike insurance online might feel like a difficult task, but in reality, it is a whole excellent experience. It offers legal assistance at the period if you meet with any accident. All third-party liability will be covered under this policy. 

  1. DEPRECIATION OF THE BIKE.

The depreciation of the bike means the wear and tear of the bike; it is the reducing market value of the bike. The wear and tear reduce the value of the bike. When the claim amount is raised, depreciation of the bike plays a pivotal role in the amount. Therefore, the depreciation is taken into account when the insurance claim is made for the bike.

  1. NO CLAIM BONUS OFFER.

In case you haven’t made a claim against your bike insurance, you can earn a no-claim bonus. You will be provided with a discount on your renewal premium amount; this will be only possible with this incentive. If you maintain this standard, then the discount percentage will rise each year. It starts from 20% and rises to 5a 0% discount. So, look for the discount when it’s time for the bike insurance renewal. 

  1. ADD ON’S COVERAGE.

A Roadside assistance add-on cover is a saviour. In case your bike suffers a breakdown, many free services will be covered under this cover. —for instance, free towing, on-spot repairs, fuel refill, on-call assistance, etc. Further, a bike Engine Protect add-on is something to look for. It provides insurance cover to the engine of the bike. It covers the cost of repair, replacement, etc. of the machine when it is not covered in the general bike insurance cover. 

  1. CLAIM FOR A LOST KEY.

There is an add-on for Key protection which provides assistance at the time of losing the key. If your key is lost or the lockset is damaged or stolen, the add-on covers the replacement of the lost key and the repair of the lockset, etc. The claim of the lost key or otherwise depends on the terms and conditions of the add-on cover.

WHAT IS NOT COVERED IN BIKE INSURANCE POLICY?

There are some things we can’t help you with. Here’s an overview of some of the general exclusions in insurance:

  • General wear and tear, consequential damage, and age-related mechanical/electrical breakdown of the bike.
  • If the bike is used outside the defined geographical boundary i.e. outside the border of India.
  • Damage from war, war-like operations, mutiny and nuclear threat.
  • Damage to bikes when used for racing, reliability tests, speed tests, etc.
  • Bike-specific coverage in the case of civil liability only.
  • Personal accident insurance for car owners in case of civil liability insurance.
  • Cycling without a helmet or without a valid driver’s license.
  • Riding a bike under the influence of drugs and substances.
  • If you use the bike under restrictive conditions, such as riding in an area prone to flooding (due to possible negligence).
  • If the personal bike is used for commercial purposes.
  • Break-in and theft damage if the bike is not stolen.
CONCLUSION. 

In the above article, some unknown facts about buying bike insurance online have been penned down. It will be beneficial for you if you take it into consideration to buy insurance for your bike. Square insurance broker Pvt Ltd. is your saviour in the journey. If you find any difficulty in the process feel free to reach out to them. They offer bike insurance to the customers. After attaining 100% customer satisfaction mark in the market, they provide services for insurance coverages, add-on covers, no claim bonus, and much more. 

FAQs

Q1. Why do people prefer no claim bonus?

Because the discount variable is huge. It rises up to 50% if a claim is not made for 5 five years. 

Q2. Why to choose Square broker pvt Pvt Ltd?

They have a 100% customer satisfaction mark with them. Their main objective is to serve the customer. They provide discounts, bonuses, coupons, etc. to their customers.

Q3. Why pay for Add-ons?

Add-ons provide extended coverage, which the general cover cannot furnish. It provides different add-ons for different purposes. For instance, Add-on for key protection, Add-ons for engine protection, Add-on for other coverage areas, etc. 

Q4. Does the insurance cover provide legal protection?

Insurance cover provides protection against third-party claims. In case of any accident, all the damages are covered.

Author BIO

Square Insurance Brokers is the top insurance broker in India, Providing all insurance solutions at one place; you can compare multiple insurers’ company quotes and choose the best that fit our need. It provides insurance services all over India.

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