Natural catastrophes can happen anywhere, at any time, and they can seriously harm your possessions. This includes harm done to your bike, one of your most important possessions. This makes choosing the appropriate auto insurance policy for the vehicle’s coverage crucial. But do natural calamities fall under your bike insurance policy? Here is a thorough response to that query.
Are natural disasters covered by traffic insurance?
Thankfully, they are. You can be covered by bike insurance coverage in case of hurricanes, floods, earthquakes, storms, etc. It covers any type of natural disaster-related damage to your two-wheeled vehicle. Make sure your vehicle is covered with comprehensive insurance. This is so because any vehicle damage brought on by a natural disaster is not covered by third-party bike insurance.
A comprehensive bike insurance policy is a legal agreement between the owner of the bike and the vehicle insurance company, in which the latter agrees to pay for liabilities to third parties and bike damage brought on by fire, accidents, theft, natural disasters, and other calamities.
Third-party bike insurance, on the other hand, is a policy that commits the insurer to pay the third-party obligations of the vehicle owner solely.
In India, both natural and man-made disaster-related damages are covered by all comprehensive insurance policies. Furthermore, there are no additional costs associated with paying for damages that are covered by your auto insurance policy.
Let’s use an example to further explain this. Imagine that a large earthquake strikes your city, seriously damaging your things, including your bike. Repairing a broken bike means putting money out of your own pocket. The loss of your bike will be covered by your insurer if you have a comprehensive bike insurance policy, though.
However, third-party insurance does not make this possible. Even if you have the best motor insurance, if it only covers third parties, you will still be responsible for paying to repair or replace your vehicle if a natural disaster damages it.
Therefore, if you want your bike insurance to pay for damage to your vehicle done during a natural disaster, you must have comprehensive insurance coverage.
Bike insurance advantages during natural disasters
Selecting a thorough bike insurance policy is an investment that will support you in trying times. Here are some advantages of having comprehensive insurance during natural disasters.
An advantage of cashless claims
Taking advantage of perks for cashless compensation is one of the main advantages of having bike insurance during a natural catastrophe. You can get in touch with your insurance provider and file a claim for cashless compensation if a tornado damages your vehicle using the bike insurance app. Your damaged vehicle will be towed to the closest garage by the insurance company, which will also bill them.
Offering a No Claim Bonus (NCB)
You may benefit from the No Claim Bonus if you have selected comprehensive insurance coverage. In this method, you will save money on your premium renewals if you don’t need to file any claims throughout the policy duration. Additionally, you have the option to roll over your current NCB into a new policy. *All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply.
No-hassle inspection
The simple review and claim process of an extensive bike insurance policy online is another advantage. Do not become anxious if a natural calamity damages your insured automobile. If you select a comprehensive plan, you can benefit from a flawless auditing process with top-notch services.
All comprehensive auto insurance policies provide protection from natural calamities. To increase the scope of your policy’s coverage, you can purchase two-wheeler insurance add-ons from your bike insurance provider. Keep in mind to adhere to the aforementioned instructions in order for your motor insurer to approve your Bajaj Allianz bike insurance claim.
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Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
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