Liberty Comprehensive Bike Insurance

Comprehensive bike insurance covers damage or loss of bike for both the policyholder and the third party. Liberty comprehensive compensates for eventualities that may arise from accidents, theft, or natural occurrences. Liberty comprehensive bike insurance policy covers the damages for both the third party and the policyholder. Third-party bike insurance is important because it is mandatory in India.

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Not having third-party coverage can lead to loss of money through fines, imprisonment, or settlement to the affected party. Apart from the third party liability cover, two wheeler insurance online provides coverage for damages caused to the insured vehicle.

Liberty Comprehensive Two-wheeler Insurance vs. Third Party Two-Wheeler Insurance

It is important to note why one may choose comprehensive bike insurance, especially when third-party insurance is only mandatory. The differences between comprehensive bike insurance and third-party bike insurance are given in the table below:

Benefits	Comprehensive Bike Insurance	Third-Party Bike Insurance
Liabilities Covered	Covers liability for both third party and the policyholder. Includes both bikes and the persons.	Covers only third-party liabilities. Includes both bike and person.
Add-on Covers	Additional covers are available, such as zero depreciation cover.	Add-ons are not available.
Premium	Premiums are higher, but the policy provides wider coverage.	Premiums are lower since coverage is focused only on third-party.

Liberty Comprehensive Bike Insurance Benefits

The Liberty comprehensive bike insurance provides many benefits. They are:

Time-Saving: You can save time with roadside assistance and online claim process
Security: You get peace of mind with this bike insurance, knowing that you are covered for road emergencies
Multiple add-ons: There are many add-ons possible with comprehensive bike insurance that enhance the protection

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Liberty zero depreciation bike insurance policy

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What is covered under Liberty Comprehensive Bike Insurance Plan?

Liberty comprehensive bike insurance policy comes with various features. For example, on every renewal, there are possible discounts. Additionally, Liberty comprehensive bike insurance policy provides roadside assistance cover.

Liberty comprehensive bike insurance policy covers the following:

Damage or loss of insured bike due to the following reasons:
- Fire
- Theft or burglary
- Civil commotion
- Natural disasters like earthquakes, landslides, and floods
- Accidents
- Intentional damage
- Terrorism
- Transit
Inclusions for third-party:
- Death of a third party, which includes people in the other vehicle.
- Damage to the bike of third-party
Inclusions for first-party:
- Personal accident cover provides protection to the owner/driver:
  - 100% compensated for the death
  - 100% compensated for the loss of both limbs
  - 100% compensated for the loss of both eyes
  - 50% compensated for the loss of one limb
  - 50% compensated for the loss of one eye
  - 100% compensated for any permanent and total disability
- Covers the damages to the owner’s bike

What is not covered under Liberty Comprehensive Bike Insurance?

While all the points given above are under the coverage of Liberty comprehensive bike insurance, there are specific exclusions too:

Any loss covered by external parties, such as:
- Manufacturer
- Other insurance providers
Substantial loss apart from damage to internal engine parts due to leakage of lubricating oil
Substantial loss apart from damage to gearbox due to leakage of lubricating oil.
Engine oil and other consumables required to flush an engine
Unruly maintenance or service on policyholder’s part
Delay in notification to the provider that bike is in a water-logged area, which then leads to corrosion

FAQs

Q. What is zero depreciation cover in Liberty comprehensive bike insurance policy?

Zero depreciation cover is an add-on that is available with Liberty comprehensive insurance policy. It does not deduct the depreciation of bike parts at the time of claim settlement.
Q. What is a multi-year comprehensive bike insurance policy?

Multi-year policies are those that are offered for more than a year. Generally, they are for two or three years. You can buy Liberty bike insurance for more than 1-year as well.
Q. What is IDV in comprehensive bike insurance?

IDV stands for the Insured Declared Value. On the basis of the IDV your sum insured is decided at the time of claim settlement.