Comprehensive bike insurance allows you to extend your coverage beyond the primary benefits with various add-ons and covers. In contrast, third-party bike insurance only covers third-party-related liabilities. Everyone must know about these insurance types before they renew their motorcycle insurance.
What is it?
Comprehensive: This bike insurance policy combines own-damage coverage and third-party liability insurance to protect you against all risks.*
Third-party: According to India’s Motor Vehicles Act of 1988, third-party bike insurance is a legally required policy that covers third-party damages.
Coverage information:
Comprehensive: This policy provides total protection for your bike. Your bike will be protected from theft, loss, and harm. It offers financial assistance if your motorcycle or any other person, vehicle, or property is damaged.
Third-party: This policy provides limited coverage. A third-party liability bike insurance will only shield you from harm or loss incurred by a third party.
Add-ons:
Comprehensive: You can choose from various useful add-ons with this policy, including zero-depreciation cover, return to invoice cover, roadside assistance, and consumable cover.
Third-party: It only offers personal accident cover under this policy.
What should I purchase?
Comprehensive: Recommendable if you require comprehensive protection for your bike and add-ons. You can get all this information by downloading a bike insurance app.
Third-party: Recommended if you don’t ride your bike often or are too old.
Premium costs:
Comprehensive: A comprehensive bike insurance policy has a higher premium than third-party coverage.
Third-party: This bike insurance is more affordable.
Advantages of comprehensive motorbike insurance:
Comprehensive: Only your own bike’s damage is covered.
Limitations of comprehensive motorbike insurance:
- It does not cover normal wear and tear on your bike.
- It cannot stop the depreciation of your bike over time.
- Your bike’s fibre and rubber components are typically only fully covered within standard bike insurance if you’ve added a specific add-on.
- Any bike insurance will typically be unable to compensate for losses or damages brought on by a nuclear attack or war.
Check these points out in greater detail on a bike insurance check app.
Exclusions of comprehensive motorbike insurance:
- Driving under the influence
- Driving without a valid licence
- Driving while intoxicated
- Consequential damage
- Contributory inattention
- Add-ons not purchased
Third-party bike insurance advantages:
- Third-party liability coverage
- Protects you in legal terms
- Protects your wallet against penalties
Limitations of third-party motorcycle insurance:
- It does not cover losses or damages to your bike resulting from mishaps like collisions, fires, or even natural disasters.
- You cannot add extra coverage or add-ons to your bike insurance policy.
- In the case of third-party bike insurance, you cannot modify your IDV.
- It doesn’t make up for your bike being stolen.
Exclusions of third-party motorcycle insurance:
- Vehicle damages
- Riding under the influence of alcohol
- Riding without a valid licence
If you are planning on bike insurance expired renewal, do understand the difference between these two insurance types and then take your final decision.
Get insured anytime, anywhere! Check out Bajaj Allianz General Insurance website to learn more and download the app now.
* Standard T&C Apply
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.
