Add-on covers for bike insurance
Below add-ons can significantly enhance the coverage of your policy by just paying a nominal price over your basic bike insurance premium.
Zero depreciation cover
You get coverage for depreciating parts of your bike. Insurance companies deduct the value of depreciating parts while settling the claim on bike insurance policies. This add-on cover helps you get the entire claim amount without any deduction of depreciation value.
Roadside assistance cover
Get emergency assistance in case of breakdown, tyre puncture, empty fuel, and other such troubles while riding on the road.
Engine protector cover
This covers the bike's engine against damages caused by water damage or oil leakage. Since these damages often result in costly repairs, the cover can come in handy.
What are the differences between the types of bike insurance coverage?
Given below are the key differences between the three different types of bike insurance coverages:
Aspect
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Third-party coverage
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Own damage coverage
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Comprehensive coverage
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Legal requirement
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Mandatory coverage, required by law.
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Optional, but recommended for added protection.
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Optional, but recommended for extensive coverage.
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Coverage scope
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Provides coverage for third-party damage, injury, or death. Does not cover your own bike.
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Covers own bike damage in accidents, theft, fire, or natural disasters. Does not cover third-party damage.
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Offers complete protection, including own bike damage, third-party liability, theft, fire, and more.
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Cost
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Economical; lower premium costs.
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Moderate premium costs; middle ground.
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Higher premium costs due to broader coverage.
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Additional protection
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Does not include additional protection.
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Add-ons available for added benefits, such as personal accident cover.
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Extensive add-ons available, including zero depreciation, roadside assistance, and more.
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Ideal for
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Budget-conscious riders seeking basic legal coverage.
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Riders looking for balanced coverage, safeguarding against potential losses.
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Those who desire comprehensive protection, including coverage for own bike, third-party, and other risks.
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A step-by-step guide to buying bike insurance online
Follow the below steps to buy two-wheeler insurance on Bajaj Finance Insurance Mall.
Step 1: Visit Bajaj Finance Insurance Mall and view the comprehensive two-wheeler insurance plans offered by leading motor insurance companies.
Step 2: Click on 'Get Quote’ to open the online application form.
Step 3: Enter the vehicle type, two-wheeler registration number, mobile number, and residential PIN code. Check the terms and conditions and click on the ‘Get Quote’ button below.
Step 4: Choose the IDV, NCB value, add-on covers, and plan type to get a list of relevant policies. You need to update your current policy expiry date here.
Step 5: Click on the ‘Buy Now’ button. You will need to add owner-driver personal accident cover mandated by the RTO. Click on ‘Next’ to proceed.
Step 6: Confirm the vehicle registration date and the previous policy type (comprehensive/third-party). Click on ‘Proceed’.
Step 7: Enter vehicle owner’s name, date of birth, residential address, and contact number. Also, enter vehicle engine and chassis number (as per the RC) and previous policy details.
Step 8: Review your previously filled details and make the payment through your preferred online payment mode. You can use net banking, UPI, credit/debit card to buy the different types of bike insurance policies.
How do I check the type of my bike insurance?
Below are bike insurance policies offered through Bajaj Finance Insurance Mall:
Having a bike insurance policy is vital to stay financially secure in case of any unexpected damages caused to the two-wheeler. You must choose the right type of bike insurance policy to suit your specific needs. Evaluate your budget and requirements before planning to buy a bike insurance. Always consider the premium, coverage limit, and additional benefits when choosing the right insurance policy for your bike.
