If you own a motorcycle, then protecting yourself and the bike is very important. This is why motorcycle insurance is very important for every bike rider. Having bike insurance makes sure that any damage caused to the bike and its associated cost for repair is covered. Many motorcycle insurance policies also cover the damage caused to the rider and third party. Buying motorcycle insurance will make sure that you do not have to spend a big amount of repairing and servicing your bike in case of an accident. Motorcycle insurance will not only cover your liabilities but will also cover the physical damage and damage to the bike of the other person, you have the accident with. Mentioned below are a few reasons as to why one should buy motorcycle insurance.
Bike damage cost coverage
In case of a bike accident where either a bike gets damaged or beyond repair, one will have to buy a new bike where he or she will have to spend a big amount on the same. However, if you have motorcycle insurance then, you will be paid the insured amount for the bike, which can be used to buy a new bike, In case the bike is not damaged and can be repaired, the entire cost will be paid by the insurance company. In both cases, the bike owner does not have to pay anything in such an incident. By just paying a small amount annually, you can save big on repairing cost.
Covers the cost of the third party
The best part about purchasing bike insurance is that in case of an accident, the insurance company will also cover the damage caused to the vehicle of the third party and the cost of any injury caused to the third-party driver. Motorcycle insurance makes sure that you do not have to spend a single penny out of your pocket in case of an accident.
Other types of coverage
Motorcycle insurance not only covers the damage caused to the person and bike by accidents but also covers a lot of different scenarios. In case you had an accident that does not include a collision with other vehicles, like a bike skid, you will still be covered under the policy and will be paid the cost for bike repair. Also, many different motorcycle insurance companies offer other features at a nominal cost in the insurance policy. For example, providing bike fuel in a location where the bike is stuck due to no fuel. New key replacement in case you lose or break your bike key etc. Different companies offer different types of services that you can check before buying insurance.
Easy and flexible payment option
Although the payments for motorcycle insurance are paid annually, many different companies provide a flexible and easier way of payment such as EMI, or payments are done half-yearly and yearly. Also, it is suggested to check out multiple companies and their insurance premiums for the bike. Looking out for options provides you the best possible and the lowest rate of premium for your motorcycle.