Procedure To Switch From Third-Party To Comprehensive Bike Insurance

Two-wheelers serve as an excellent means of transportation, especially in places where traffic congestion is high. People are enthusiastic about buying a new one with attractive features and exclusive colours. They maintain them well through regular check-ups to reduce the probability of sudden damages. To further safeguard their prized possessions, they opt for a mandatory Insurance Policy as per the Motor Vehicles Act.

There are two Bike Insurance types: Third-Party and Comprehensive Plans. It compensates for the damages caused to yourself, the bike, and the third-party person or property.

Why switch?

While the Third-Party Two Wheeler Insurance covers only third-party liabilities, Comprehensive covers include primary and own damage. It also protects the bike against theft, complete loss, and other mishaps. Comprehensive plans cover damages caused due to fire, vandalism, explosions, natural calamities, damage during the transiting process, etc. You also benefit from add-ons that enhances the existing policy, unlike a Third-Party cover. 

You need not pay additional charges for covering liabilities caused to another driver, pedestrian, or passenger.

Points to remember

Consider the bike usage and personal preferences before approaching the General Insurance company for switching the plan. While searching for the best Comprehensive online Bike Insurance in India, look at the quotes offered by different companies and compare them. Checking the details online bring many benefits that agents do not disclose. Check for the cover period, deductibles, and limits of the policy.

Most 2-Wheeler Insurance providers offer 24×7 support. Check if yours provides the same. The facilities include online buying and renewal, checking the policy status, and raising issues. It has become easier to buy and renew plans conveniently with compatible mobile apps. If you wish to change the company, consider the customer service quality, past claim ratios, online services, reputation, etc.

Switching during the policy period

Visit the provider’s official website before renewing the current online 2-Wheeler Insurance. Browse through the plans and select the apt one. Submit all the necessary forms, including details regarding your existing Third-party Insurance Policy. The provider sends a surveyor for bike inspection. Based on their reports, upgrade the plan. It leads to the cancellation of the previous policy and upgradation to a new one.

Switching during renewal

After the given tenure, policyholders must do Bike Insurance renewal. Since you can renew it online, you are free to change the policy or switch the company. At this time, make the changes they desire according to their requirements.

Switching while buying a new bike

If you have bought a new two-wheeler, change from Third-Party to Comprehensive Plan. You may even change the provider. Remember that the insurer recalculates the Insured Declared Value and the premium payable.

Add-on covers

When switching from Third-Party to Comprehensive Insurance, you get access to add-on covers. With the Zero Depreciation cover, you receive the complete value of your claim in damages, losses, repairs, and replacements. The Return to Invoice cover ensures your bike receives coverage against total loss, damage beyond repair, or theft. If your motorcycle breaks down midway, the Roadside Assistance cover compensates for expenses like towing facility, flat tyres, minor repairs, and hotel stay.

Lastly, the Consumables cover covers the smallest aspects of your two-wheeler, like engine oil, nuts, screws, and distilled water.

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