Two-wheeler Insurance Benefits in Case of Natural Disaster
.png)
Unpredictable weather conditions due to natural disasters cause havoc to almost everything including your vehicles. Let’s discuss how your bike insurance can benefit in case of damage by natural disasters.
What’s Inside
- In what ways are you affected by natural calamities?
- What does your bike insurance policy Cover?
- Comprehensive bike insurance plan support during natural calamities
- Add-on covers that are especially crafted to shield against Natural Disasters
- Does your Bike Insurance offer total loss in case of natural calamity?
Natural disasters are caused by unpredictable conditions of the weather. These disasters bring upon huge loss to mankind in terms of damaging properties and taking lives. Natural calamities also bring upon damages to your vehicles caused by floods, earthquakes and so on. Thus, to protect your vehicle from such damages caused by natural factors, it is essential to purchase the right bike insurance plan. With a bike insurance policy covering natural disaster, one can get coverage against damages caused to your bike by cyclone, or by water ingression in the engine of the bike etc. In this post we will discuss how having bike insurance benefits in case your bike is damaged by natural disasters.
In what ways are you affected by natural calamities?
India is among the top countries that are hit by natural calamities such as flood, earthquake and cyclones etc. Reports says that millions of people are affected by natural hazards in the country every year. These calamities destroy everything ranging from buildings, properties, vehicles and much more. In fact, the havoc of one such calamity of nature can be of such magnitude that it can devastate the country within hours or even minutes. Such events disrupt the lives of people in cities as well as in villages.
What does your bike insurance policy Cover?
As per Indian Motor Laws, having a third-party insurance for your bike is essential if you want to ride your bike on the Indian roads. However, the third-party policy only covers the damages of third-party persons and property. So, in case you want to insure your bike against natural disasters and other damages you must buy a comprehensive two-wheeler insurance policy. Unlike the third-party policy, this is not mandatory coverage. However, it protects two-wheelers against any damages caused by nature as well as the ones that are beyond the control of human beings like fire, floods, and so on.
Besides, the comprehensive plan also protects you against unforeseen situations that are caused by mistakes of human like accidents, strikes, terrorism and more.
In what ways does a Comprehensive bike insurance plan support during natural calamities?
If you have comprehensive two-wheeler insurance online, you can raise claims against natural calamities as well as manmade havocs. So, this single plan can save you from varied damages and you may not buy any extra rider or add-on cover. Further, this plan guards your bike against several incidents where it might get injured severely.
Add-on covers that are especially crafted to shield against Natural Disasters
The add-ons of bike insurance plans also play a significant role in adding coverage and strength to your existing policy. Your comprehensive bike insurance plan allows extensive protection against most damages caused to your bike, including third-party and own damages. However, by including a few add-ons you can give extension to your original plan.
Below are certain important bike insurance add-on covers that can further extend your coverage against damages caused by natural calamities.
1. Add-on to Protect Engine :
This add-on cover protects against the cost of repairing and changing any parts of your bike engine that is caused due to natural calamity. It further protects against oil leakage, loss of parts of the engine, loss of coolant etc.
2. Add-on of Zero Depreciation:
This add-on protects you against the cost of replacement of parts without taking into account the depreciation of your bike. Also known as bumper to bumper cover, this add-on saves you from paying the depreciation amount of your vehicle from your pocket.
Consumables Add-on – Items such as engine and gear oil, distill water, lubricants, grease oil etc. are the consumable items. Most of these items are not covered under your regular bike insurance plans and thus you need a consumable add-on to cover it.
Does your Bike Insurance offer total loss in case of natural calamity?
Yes, you can have coverage on the total loss of your insured bike if it is caused by any natural disaster. In this case, if the complete repair cost surpasses 75% of IDV or Insured Declared Value of the bike, the vehicle is regarded as total loss. So, in such a situation the insurance company will offer compensation by paying the insured the IDV of the bike as per policy terms.
Author Bio
Paybima Team
Paybima is an Indian insurance aggregator on a mission to make insurance simple for people. Paybima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 21 years of experience. Paybima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
Other Motor Insurance Products
Latest Post
.jpg)
Having a bike is not just about convenience, it’s a huge responsibility. Financial protection of your two-wheeler is important and the best way to ensure that is to have a bike insurance policy that will protect you in case of an accident, theft or a natural calamity. There are so many options when it comes to policies, making it difficult to know what’s best. This guide makes it easier to choose the best bike insurance policy that is suitable for you.
.jpg)
Sometimes, we do not pay as much time and heed to car insurance policies as we do for life insurance plans. While this is quite natural, you must know that such a mistake can lead to heavy financial losses.
Even though people are now changing and more and more individuals have begun opting for car insurance, most people from the upper and lower-middle-class sections in India are not aware of why their insurance premiums vary so much.
Knowing about such variations and the factors that cause such variations won’t just educate you about premiums. It will also help you address higher premiums and tackle them effectively.
Fixed Deposits (FDs) are one of the safest ways to grow your savings. HDFC Bank offers attractive FD interest rates, allowing you to earn guaranteed returns on your investment. But before you invest, it's important to know how much interest you will earn and what your final maturity amount will be.
Health insurance plans are purchased with the hope of medical protection in times of need. However, sometimes it ends up being a source of surprise and disappointment. This mostly happens when people rush to buy health insurance plans, often overlooking essential aspects. Ignoring waiting period clauses, misunderstanding exclusions, and being unaware of sub-limits can lead to unwanted problems in the future.
.png)
In case of a medical emergency, cashless hospitalization is the best option to avail for anyone. This is only possible if your insurer has a tie-up with some hospitals that are covered under its network and where you can seek treatment without spending a penny. Here we share the list of network hospitals empaneled with Aditya Birla Health Insurance.
Speak to our Advisor
+91
By clicking the button, I authorize Paybima advisor to contact me via SMS, Email, Phone, WhatsApp or any other modes overriding my 'DND'.T&C Apply.