What is a Superbike or Sports Bike?
Two-wheelers that have been modified to operate at higher speeds are known as Superbikes or Sports Bikes. They often have engines that are larger than 600cc. These bikes, when compared to other types of bikes, trade on comfort and fuel economy in favour of braking, acceleration, and visual appeal.
Bike Insurance For Sportbike Or Sports Bike
Superbikes don’t safeguard the rider; in fact, the high speeds that a superbike may travel at enhance the likelihood of an accident. However, such bikes are not completely protected against accidents like theft, damage from a natural disaster, or vandalism. Hence, if you possess a superbike, purchasing a bike insurance policy with greater coverage becomes necessary.
What does sport bike insurance cover?
The best way to protect the bike financially from any accidents involving the bike is to purchase a Complete Superbike insurance plan. When purchased after carefully reading the conditions of the policy, this sort of insurance offers sufficient coverage. The following coverages are included in a comprehensive bike insurance policy:
- Liabilities to Third Parties
The purchase of third-party motorbike insurance is required by law. According to the Motor Vehicles Act of 1988, purchasing insurance is a requirement before purchasing a sports bike in India. You can compensate any third party, or a person involved in an accident involving your bike, with this form of coverage. Often, a third party has sustained either physical harm or material loss. The sort of damage a third party sustains determines the degree of the damage compensation. The amount of the award could be far higher, and the owner of the insured bike might not be able to cover it out of pocket. *
- Self Damage Defense
A superbike requires far more money to maintain or replace its parts than a typical two-wheeler does. In the unfortunate event that this bike is damaged, the insurance provider will cover the cost of repairing or replacing the bike components. This will follow the insurance policy’s terms and conditions. To get the bike in excellent shape, the policyholder might not have to spend a lot of money. *
- Personal Accident Insurance
For the owner/rider of the insured sports bike, this is comparable to a health insurance policy. A Personal Accident Cover compensates the insured in the event of passing away or permanent disability, which is the difference. The offered coverage in these circumstances is Rs. 15 Lakh. *
- The Option To Choose Add-Ons
A Complete Bike Insurance policy offers a number of practical supplemental coverages. This policy can be purchased with add-ons like Zero Depreciation, Roadside Help, Engine Protect, Pillion Rider Cover, NCB Protect, etc. Each Add-on should be chosen while considering its applicability to specific needs. *
- Protection against legal liabilities
Accidents may result in several legal complications that inconvenience the policyholder. Such liabilities can be covered by bike insurance coverage for third parties. Under this kind of bike insurance policy, the insurance provider can arrange for legal counsel. *
- Theft
Financial protection from bike theft is provided by a comprehensive bike insurance policy for the policyholder. While purchasing an insurance policy, the owner must declare a parameter for the bike called the “Insured Declared Value” (IDV). In the event of theft, the owner will receive compensation roughly equal to the bike’s IDV when you claim bike insurance. *
- Calamities, Both Natural And Man-Made
Comprehensive Bike insurance coverage also covers the expense of repairing a bike that is damaged as a result of a natural or man-made disaster. Although man-made calamities include vandalism, rioting, bandhs, etc., natural calamities include floods, earthquakes, landslides, etc. *
Make sure you carry out the process of bike insurance renewal on time.
* 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.
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