When you get bike insurance online, you should be aware of the various covers available to you. While some covers are available with the basic plan, some need to be bought separately, as riders. The personal accident cover is one such rider. If you agree to pay a higher amount of money for your bike insurance plan, you will be assured of getting compensation if you get injured in an accident. You can then use the money to get treated, to substitute your income or for any other reason you deem fit. Take a look at this article to know more about the other such interesting features available with bike insurance online.
Compensations made in bike insurance online
Before we explore the riders, let us first glance over the general compensations that are made on the online bike insurance policies. Did you know that bike insurance is categorised in two sub-divisions? Yes, it is and the two types of bike insurance covers offer different types of compensations.
- Third party cover: When going for bike insurance online, you have the option of buying a third party cover. This is the basic form of two wheeler insurance that even the law asks you to have. Under this type of cover, you can get compensation for all third party liabilities. This means that if your vehicle accidently injures a third party or destroys a third party property, your insurance provider will compensate the third party financially on your behalf. Then, if a third party brings forth a legal suit, you can depend on your insurer to take care of the severely high legal costs. Under the clauses of third party bike insurance cover, there however are no provisions for damages to your own two wheeler.
- Comprehensive cover: The second type of cover is the comprehensive cover. This type of bike insurance online offers a more well-rounded cover. If you buy a comprehensive two wheeler insurance plan, you will get all the advantages of a third party cover. In addition, you will also find cover for your own vehicle, something which is very important in today’s day and age. So explore your options and see what type of cover is more suitable for you.
Theft claim in bike insurance online
One of the main reasons for buying comprehensive bike insurance online is getting compensation if the bike gets stolen. You buy the plan, pay the premiums on time and ensure the cover is active at all times. In return, your insurance provider promises to protect your vehicle against damages and thefts. One day you reach the spot where the vehicle was parked and find it missing. It was stolen! Left with no other option, you make a claim and get compensated as per the IDV mentioned in the policy. It will help you to buy a new bike with the money.
If you feel the above illustration sounds too simple to be true, you will be happy to know that the process actually is that easy. When you buy bike insurance online, you also get the option of filing the claim online. You can simply download your insurance provider’s mobile app or visit their website to quickly file a claim. But before you file the claim, you need to:
- Ensure all your premium payments are up-to-date.
- Check if your plan is a comprehensive two wheeler insurance plan, and not a third party cover.
- Read the policy documents to verify how much the limit of the compensation is. If there is a limit and the claim amount is lower than the cost of a new bike, you have to pay the balance from your own pocket.
- Submit the claim form and the other documents your insurer asks for correctly and truthfully to ensure the claim is processed quickly.
The bottom line
If you properly choose the bike insurance online, you will surely find a cover that is wholesome, affordable and very useful. So do your research, run a comparison, check out the available add-on covers and explore the other available options. Then analyse your own requirements and see which type of plan with what riders suit you the best. This is the best way to find and have the ideal bike insurance online. Since it is mandatory to have bike insurance in India, never ride your two wheeler without a proper insurance cover. Go online and get your ideal bike insurance plan today!