Saturday, 13 May 2017

different types of two wheeler insurance..

Liability Only Insurance

As the name suggests, liability only insurance provides insurance coverage in case of damage caused by the insured vehicle to a third party and Third party insurance is compulsory under Indian law and all two wheeler are required to have this form of insurance.Liability only insurance covers the legal cost arising out of damage resulting in personal injury, property damage or death to a third party due to the insured vehicle.Along with covering the cost of damage due to an accident or incident, most insurance companies also offer accidental death cover to the owner of the insured vehicle. This is an additional benefit that is offered to two wheeler owners. This serves as an additional cover in the event the owner is injured, with the insurance company covering the cost up to a certain limit.
Liability only insurance policies provide coverage largely to the third party and does not offer much in the way of protection for the two wheeler or the rider. However, premiums for liability only cover can be purchased from a number of leading insurance companies at an affordable rate. The cover can be purchased for a year and renewed annually.

Comprehensive Insurance:

Comprehensive two wheeler insurance provides coverage for third party liability as well as protection for the insured two wheeler and rider and Comprehensive two wheeler insurance covers damage to the vehicle arising out of natural and man-made calamities as well as coverage for the owner and rider.Comprehensive bike insurance provides complete protection in the event of an accident resulting in partial or total damage to the insured vehicle and It also covers the owner and the co-rider (included as an add-on) through personal accident cover.