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Navi Comprehensive Bike Insurance Policy
Navi's comprehensive bike insurance policy pays for financial and legal liabilities arising due to own damages and third-party damages. It is mandatory for every bike owner to get third-party insurance policy under the Motor Vehicles Act. However, because of the limited coverage provided by the third-party plans, several customers prefer to buy a comprehensive bike insurance plan for their two-wheeler.
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Comprehensive Bike Insurance
- Navi Comprehensive Bike Insurance
Navi Comprehensive Bike Insurance vs. Third-Party Bike Insurance
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Basis |
Comprehensive Bike Insurance |
Third Party Bike Insurance |
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Coverage |
It covers third-party risks as well as charges incurred as a result of accidents, theft, natural catastrophes, and disasters |
In case of an accident third-party bike insurance protects you against 3rd party financial and legal liabilities
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Add-on |
The coverage can be enhanced by acquiring one of the add-on covers available alongside a comprehensive bike insurance policy |
There are no add-ons available with third-party bike insurance plan
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Cost |
The premium is a bit on the higher side
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Due to its restricted coverage, third-party bike insurance premium is comparatively in a lower side |
What is Covered under Navi Comprehensive Bike Insurance Policy?
Navi comprehensive bike insurance policyholders are protected from the following:
Liabilities to third parties: The insurer protects the policyholders from financial obligation for any third-party damage or injury caused as a result of an accident involving the insured's motorcycle. The insurer covers third-party bodily injury, death, property damage, and permanent disability.
Own property damage due to natural disasters: Natural disasters, such as earthquakes, floods, landslides, and other natural calamities, are covered under this comprehensive bike insurance coverage.
Man-made calamities: Damages incurred due to terrorism, riots, fires, strikes, etc., are covered as well.
Accidental damage and theft: This policy protects the insured person's motorcycle or scooter from damage or loss caused by theft, an accident, or insurance burglary.
Explore Navi General Bike Insurance
What is not Covered under Navi Comprehensive Bike Insurance Plan?
The following claims are not covered by the Navi comprehensive bike insurance policy:
Wear and tear of the vehicle
Accidents caused because of wilful misconduct
Driving without a legal driver's license and causing accident won’t be covered
Breakdown due to mechanical or electrical failure
Any losses incurred as a result of contractual obligations
Driving while under the influence of alcohol or intoxicating drugs and incurring damages is not covered
Damage that occurred as a result of a war, a nuclear threat, a mutiny uprising, or any other situation is not covered
Benefits of Navi Comprehensive Bike Insurance Policy
The following are the advantages of having a Navi comprehensive bike insurance policy:
- Customer service is easily accessible
- Claim settlement is quick and straightforward
- In only a few minutes, to buy insurance online
- For comprehensive policy coverage, a wide selection of add-on cover choices is available
- The insurance covers third-party liabilities and own-damage expenditures
- With over 1,100 network garages across India, cashless claims are easily available
FAQS
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Q1.What is the purpose of a comprehensive bike insurance plan?
Comprehensive insurance helps pay for the replacement or repair of your bike if it is damaged or stolen. It typically covers damage caused by vandalism, fire, or falling objects (like hail or a tree). In addition, it will also cover for damages occurring in an accident.
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Q2. Why is it so expensive to insure a motorcycle with comprehensive coverage?
A comprehensive policy provides vast coverage to the policyholder and the insured bike. It also provides the option of adding add-ons to enhance the coverage. Therefore, comprehensive plans are usually expensive.
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Q3. Is it necessary to get a five-year liability bike insurance policy?
Yes. It is because IRDAI (Insurance Regulatory and Development Authority of India) has lately made it necessary for all new two-wheelers to be furnished with 5-year liability insurance coverage.
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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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^The renewal of insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for a transaction may vary subject to additional data requirements and operational processes.
^The buying of Insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for transaction may vary subject to additional data requirements and operational processes.
#Savings are based on the comparison between highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.
*TP price for less than 75 CC two-wheelers. All savings are provided by insurers as per IRDAI-approved insurance plan. Standard T&C apply.
*Rs 538/- per annum is the price for third party motor insurance for two wheelers of not more than 75cc (non-commercial and non-electric)
#Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.
*₹ 1.5 is the Comprehensive premium for a 2015 TVS XL Super 70cc, MH02(Mumbai) RTO with an IDV of ₹5,895 and NCB at 50%.
*Rs 457/- per annum (1.3/day) is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial). Premium is payable on an annual basis
