National Comprehensive Two-Wheeler Insurance Policy
The National Insurance comprehensive bike insurance policy provides coverage for third-party liabilities as well as own damage liabilities. In addition, the Comprehensive Policy allows for add-on covers like zero depreciation insurance, which further enhances the benefits of the policyholder. Bike owners should purchase comprehensive insurance because it diminishes their liability in case of any damage caused by them to a third party or their own bikes or themselves while driving on the road.Read more
National Comprehensive Bike Insurance vs. Third-Party Bike Insurance
Below is a table for comparison between the two types of bike insurance policies by National Insurance two-wheeler insurance:
Comprehensive Bike Insurance
Third-Party Bike Insurance
The policy covers own-damage expenses incurred by the insured's bike as well as Third Party Liabilities
This type of policy only covers third party damages caused by the insured's bike
Various add-ons such as Consumables Cover, Zero Depreciation, and Return to Invoice Cover etc., are available along with the Comprehensive Bike Insurance cover
Policyholders cannot opt for any add-on covers
The premium of this policy is relatively higher as it provides higher coverage benefits
This policy is cost-effective for the policyholders due to the limited coverage benefits
Benefits of the National Comprehensive Bike Insurance Policy
The National comprehensive bike insurance policy benefits the policyholder in the following ways:
- No third party liability to the insured. Any damage that is caused to a third party is covered and compensated by the insurer
- The comprehensive insurance policy covers the own-damagedliability of the insured
- The policyholder is allowed to avail of add-ons along with the comprehensive insurance policy
- Other benefits include round-the-clock customer care availability and quick claim settlement
What is Covered under National Comprehensive Bike Insurance Policy?
The National comprehensive bike insurance policy covers the following claims during the policy term:
1. Third-party Liabilities:
The National comprehensive bike insurance policy covers the insured for third party liabilities. The insurer compensates for any damage, death, or injury caused to a third party due to the insured's bike.
2. Own damage caused by Natural Calamities:
The National comprehensive bike insurance policy covers the damages caused to the insured's bike due to natural calamities like floods, landslides, etc.
3. Own damage caused by Manmade Disasters:
The National comprehensive bike insurance policy covers the damages caused to the insured's bike due to any manmade disaster like a terrorist attack, fire, riots, and so on.
In case the insured bike gets stolen, the insurer provides coverage for the same.
What is not covered under the National Comprehensive Bike Insurance Policy?
The National Insurance comprehensive bike insurance policy doesn't cover the following expenses:
- Normal wear and tear of the bike
- Mechanical or electrical breakdown of the bike
- Damage incurred due to willful negligence
- Damage incurred due to contractual liability
- Damage incurred due to driving without a valid driving license or under intoxication.
- Damage incurred during a war, mutiny, nuclear risk, rebellion, or during any such terrorist activity.
Yes, comprehensive insurance provides coverage for both third-party liability and own damages.
A policyholder, along with the comprehensive insurance policy, can also purchase add-on insurance like the Zero Depreciation add-on, Consumable Cover, Return to Invoice cover, and so on.
Q. Will the insurer be liable to compensate the policyholder in case of normal wear and tear of the insured bike?
No, the insurer will not have any liability in case of normal wear and tear of the insured bike.
The National Insurance comprehensive two-wheeler insurance policy covers the third party financial liabilities and the own-damage financial liability of the policyholder. This extensive coverage provided by comprehensive insurance instills a sense of security in the mind of the policyholder. The premium cost of comprehensive insurance is higher owing to the comprehensive coverage benefits.
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