The Importance of Two Wheeler Insurance for a Bike Owner
If you are a two-wheeler owner, it is your foremost responsibility to get insurance for it. It does not matter if you own a simple roadster bike or a magnificent sports bike or a stylish cruiser model, insurance is a must for all of them irrespective of their make, model or price. The responsibility comes in different forms:
- The responsibility of saving your own self from financial contingencies that might arise during an accident,
- The responsibility of saving yourself from the charges for damage repair of your bike or if it is stolen, especially if you are carrying a loan on your vehicle and
- The responsibility of keeping yourself covered from the expenses involved whenever any harm is caused to another person or damage caused to somebody else's property.
Hence, the way wearing helmet is mandatory to have a safe and enjoyable biking experience, similarly buying two-wheeler insurance is also compulsory to shield you against any unforeseen events. You should have a clear view about the types of coverage that you should consider including in your policy that will help you get covered from all kinds of unforeseen events.
For personal accident coverage and protection against thefts and damage caused to your bike, you should check for the following in your two-wheeler policy:
- Coverage for repair or replacement cost of your vehicle due to incidences like theft, vandalism or accidents.
- Coverage for medical expenses and hospitalization charges arising from serious injuries caused due to bike accidents. For most carriers, you will get this in the form of additional accidental riders along with your policy.
- Road-side assistance if you are mostly planning to travel long distance. This will help you get towing facilities from the nearest network garage in case your vehicle breaks down midway. It might pay for your alternate transportation if the bike is required to be kept at the workshop for a considerable amount of time.
- Coverage for the pillion driver: During most of the journeys on your bike, if you have a passenger accompanying you on the rear seat, it is recommended to get an additional plan covering the pillion rider so that during an accident, not only you but you co-passenger is also taken care of.
If harm is caused to another person or somebody else’s property due to a fault of yours, ethically it is your responsibility to compensate for the loss. However, this cost might go up very high sometimes and hence taking a plan that covers third party legal and financial liability issues is always a smart move.
If you have managed to incorporate all or most of the above coverage into your two-wheeler insurance policy and have bought the policy from a renowned company after proper research, you have successfully performed a major part of your responsibility that comes with owning a two-wheeler.