Why You Should Always Go Through Your Bike Insurance Policy

A two-wheeler insurance plan contains many policy wordings and a variety of components that are important for you to carefully go through and verify when you purchase your policy. You may wish to overlook the step of checking your insurance policy and understanding it well, but this would be to your detriment. It is crucial that you read through the policy and are aware of all of its components. Read on to find out about some of its important components and why you should go through them carefully, to avoid troubles in the future.

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Important Components Of Bike Insurance Policies That You Should Carefully Check

The following are important components of your bike insurance policy that you should read and carefully go through:

• The Plan’s Coverage

It is extremely important that you carefully check the extent of the coverage that you are planning to purchase. There are three types of bike insurance policies based on coverage. Third-Party Bike insurance is mandatory by law and will cover damages caused to a third party involved in any collision or accident with your bike. Standalone own damage insurance will cover damages to your own vehicle. Comprehensive bike insurance is a combination of the two. It is important to ensure you are aware of which type of policy you are purchasing and to know the extent of your coverage so if you ever need to make a claim, you have the necessary knowledge of whether it would fall under the coverage of your insurance plan or not.

• Policy Exclusions

As a responsible policyholder, it is your duty to carefully go through the terms and conditions of the policy and ensure that you are aware of not only what is covered in the plan, but also what is excluded from it. This would be listed in the section of policy exclusions which it is important to familiarise yourself with so that at the time of raising a claim you are not caught off guard and are aware of what is excluded from your policy. This will give you the necessary knowledge to avoid filing a claim against a policy exclusion.

Also Read: Two Wheeler Insurance Claim Rejection Reasons

• Policy Premium

It is extremely important for you to check the policy premium mentioned in the insurance document and to ensure that it is the same as what you have paid to the Bike insurance company. This is necessary as a step to avoid any fraudulent insurance policy and to protect your financial interests. Ensuring that the amount paid and the amount mentioned in the document match will help you to feel certain that the insurance company and the plan are both genuine.

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Conclusion

It is important that you are a careful customer and go through your insurance policy document thoroughly, in order to avoid any mishap at the time of raising a claim, and to avoid being caught up in a fraudulent insurance policy. Always read your insurance policy document carefully and understand its various components.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.