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What is bike insurance?

Bike insurance is an online insurance policy that is needed to provide your two-wheeler with security towards any harm that may result in monetary loss. Besides that, any third party liability caused by your two-wheeler is protected under bike insurance. Moreover, under the Motor Vehicle Act, it is compulsory to purchase a third party Insurance policy on motorcycles under which one cannot use their vehicle without the policy in hand.

Types of insurance policies

Bike insurance policy Coverage

Financial loss in case of accidental damage
 Caused from an accident or other damages – sustained by the insured vehicle
Natural Calamities
Tornado, Windstorms, Heatwave, Tsunami, Earthquake and so on
Mishaps like fire, explosion, lightening or self-ignition

 Fire insurance provides protection against occurrence of accidental fire

Third Party Liability

Third party insurance  provides protection against another vehicle (third party's) claims. The first party(own vehicle), regardless of the cause of such damages, is responsible for their damages or losses. 

Theft
This coverage pays the insured for the loss suffered as a result of robbery of the insured vehicle.  
Total loss your two-wheeler  A Total Loss refers to a situation where the cost of repair exceeds the insured value of the vehicle.

ADD ONS COVERAGE

Basic OD(Own Damage)

OD ensures to protect your vehicle from theft, fire, accidents, etc by compensating the expenses generated.

Insured Declared Value(IDV)

'IDV' is the maximum amount that the insurer will pay if the vehicle is stolen or damaged beyond repair.

NCB Protection(NCB)

No claim Bonus or NCB refers to the discount provided for not making any claim during the policy year.

Zero depreciation

The total amount is paid by the insurer during the claim without considering the depreciation on the value of vehicle.

Consumables

Parts of a vehicle such as screw, grease, A/C Gas, bearings, oil filter, break oil, fuel filter, washer, lubricant, bolt and nut and related parts.

Return to invoice(RTI)

With RTI you can recover the total expense of the vehicle along with on-road taxes, in case the vehicles is damaged, stolen or lost.

Towing and Labor

This covers a particular amount to tow the policyholder's car to a repair shop always the labor charges generated at the breakdown site.

Emergency Assistance Cover

This provides you assistance with refueling, break down of vehicle as well as towing services.

Why PolicyTrad?

There are many insurance companies and portals, so why should you choose PolicyTrad?
Well, this is because we provide unparalleled service to our clients and thus you don’t have to
waste your time and can channel all your time and energy on your business. We have
all the major insurance companies as our partners and thus you can choose an insurance
company as per your choice. We also have dedicated relationship managers who will be
providing quick service and all other provisions. Have you ever wondered how stressful the
process can be during claim settlement? We care for our clients and provide them with a
completely paperless work and online procedure for everything. This includes completing your
insurance proposal, claim settlement, renewals, etc. We value your time and commitment to
the fullest and try to provide efficient timely service which can be quite crucial at times.

Claim time documents

• R.C. BOOK
• LICENSE
• ESTIMATE OF TOTAL LOSS
• DATE AND TIME OF ACCIDENT
• P.U.C.
• INSURANCE POLICY
• CANCEL CHEQUE
• PAN CARD (OWNER)
• AADHAAR CARD(OWNER)
• FIR COPY
• CLAIM FORM
• ACCIDENTAL LOCATION AND REASON (DESCRIPTION)