11 Common Myths About Insuring Your Bike

In India, the majority population uses two-wheeler as a medium of commuting for a shorter distances. For a safe ride on the bike, it is better to have the right insurance coverage. However, there are some common myths and misconceptions that people usually face while buying or renewing their bike insurance policy. This article sheds light on these common myths about bike insurance. Read on!

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11 Common Misconceptions about Bike Insurance

Usually, two-wheeler owners become a victim of myths while insuring their vehicles.

Let us discuss 11 common misconceptions that people have associated with two-wheeler insurance-

Third-party liability cover is sufficient

In India, buying at least third-party bike insurance is mandatory for all bike owners. However, having this policy is not sufficient. It only covers the risk of damage caused to the third party but not the own vehicle. Therefore, it is advisable to opt for a comprehensive two-wheeler insurance plan, which protects both the third party and your two-wheeler during a road accident.
Lack of customer support

Gone are the days when there was no assistance while buying a motor insurance policy. Today almost every insurance provider has reliable round-the-clock customer support that is always available to answer customer queries in prospect to a two-wheeler insurance policy.
E-bikes do not need insurance

Another common myth that e-bike owners face is that their vehicle does not need any insurance. However, the reality is quite different. If you own an electric scooter or bike having a registration number & can travel more than speed 25 KMPH, then you have to cover it with the right e-bike insurance policy.
Buying two-wheeler insurance is a complicated process

Many people still have this perception that buying insurance is a time taking and complex process. In reality, buying bike insurance online has become simple. One simply needs to visit Policybazaar.com, give the required details, compare the different quotes, and accordingly make an informed choice without getting into hassles.
Two-wheeler insurance provides coverage in case of commercial usage

Another common myth is that having two-wheeler insurance provides coverage even if the vehicle is being used for commercial purposes. However, the policy offers protection for the personal use of the two-wheeler.
Buying bike insurance online is not secured

Many people have another notion that buying two-wheeler insurance online is not secure. On the contrary, personal data is secure and confidential while purchasing bike insurance online. The insurer's website is secured and ensures protection against any fraudulent activities.
The insurers cannot be switched or changed

Most people think that once a two-wheeler insurance policy is bought, they cannot change the insurer. However, this is not true. Whether, if they have bought an annual or a long-term bike insurance plan, they can easily switch the insurer. In case, one has earned NCB from the previous insurer, they can transfer it to the new policy and enjoy the benefit of a No Claim Bonus.

You may also read-How to Switch Insurers at the Time of Bike Insurance Renewal Online?

Bike insurance premium depends upon credit score

Mostly, people believe that bike insurance premium relies on their credit score. Well, this is incorrect. The premium amount depends upon various factors, including- the make & model of the bike, the year of manufacture, engine capacity, etc. Remember that the credit score does not affect the two-wheeler insurance premium.
Buying two-wheeler insurance is not necessary

Buying two-wheeler insurance is neither expensive nor exorbitant. It is high time that people need to understand that buying insurance is a necessity and not a luxury. Remember, it is a good thought to save money but a small investment can make a stress-free future.
Coverage for pillion riders is covered spontaneously

When it comes to two-wheeler insurance, comprehend that the pillion riders are not secured consequently.For instance, if a bike meets with a tragic mishap causing injury to the pillion rider, then in such case, the pillion rider is not protected under the policy. However, buying a pillion rider add-on cover with a comprehensive bike insurance policy makes the pillion rider eligible for coverage benefits.
Two-wheeler insurance provides coverage against all damages

Comprehensive two-wheeler insurance financially protects the vehicle against several unforeseen mishaps such as accidents, theft, natural calamities, third-party liabilities, etc. However, this is not applicable in all cases. It does not provide coverage to the vehicle if the damage is caused by the influence of alcohol or intoxicating substances. Therefore, it is always recommended to read the fine print of the policy documents and understand the inclusions and exclusions.

Wrapping it up

Buying two-wheeler insurance online is not a complicated process. Before buying two-wheeler insurance, it is better to understand the benefits of it along with the exclusions. Set aside all the worries and myths while buying insurance for the two-wheeler and secure your vehicle with the right bike insurance plan.