What Is A Superbike Or A Sports Bike?
Two-wheelers modified to operate at higher speeds are known as Superbikes or Sports Bikes. They typically have engines that are larger than 600cc. These bikes, when compared to other types of bikes, compromise on comfort and fuel economy in favour of braking, acceleration, and aesthetic appeal. Sports bikes cost significantly more than regular bikes. Because of this, sportbike insurance premiums are also high.
Bike Insurance For Sportbike Or Sports Bike
Superbikes don’t protect the rider; the high speeds a superbike can travel increases the likelihood of an accident. Additionally, such bikes are not entirely protected against accidents like theft, damage from a natural disaster, or vandalism. Therefore, purchasing a bike insurance policy with enhanced coverage becomes necessary if you own a superbike.
What Does Sport Bike Insurance Cover?
1. Third-Party Liabilities
The purchase of third-party motorbike insurance is required by law. According to the Motor Vehicles Act of 1988, purchasing insurance is a requirement when buying a sports bike in India. With this type of bike insurance coverage, you can compensate any third party or a person involved in an accident involving your bike. Typically, a third party has sustained either physical harm or material loss. The type of damage a third party sustains determines the extent of the damage compensation.* Claims are subject to terms and conditions set forth under motor insurance policy.
2. Own Damage Protection
A superbike requires more money to repair or replace its parts than a typical two-wheeler. If this bike is damaged, the insurance provider will cover repairing or replacing the bike components.* This will follow the insurance policy’s terms and conditions. The policyholder might only have to spend a little money to get the bike in top shape. A bike insurance calculator is a convenient tool you can utilise online to check the coverage needed based on your requirements. Claims are subject to terms and conditions set forth under motor insurance policy.
3. Personal Accident Insurance
A Personal Accident Cover compensates the policyholder in the event of passing away or permanent disability, which helps them keep their loved ones safe.
4. The Option To Select Add-Ons
A Comprehensive Bike Insurance policy offers several practical supplemental coverages. This policy can be purchased with add-ons like Zero Depreciation, Roadside Assistance, Engine Protect, Pillion Rider Cover, NCB Protect, etc. Each Add-on should be chosen while considering its applicability to specific needs.*
5. Protection Against Legal Liabilities
Accidents may result in numerous legal complications that inconvenience the policyholder. A bike insurance policy can cover such liabilities for third parties. Under this bike insurance policy, the provider can arrange for legal counsel.*
6. Theft
A comprehensive bike insurance policy provides the policyholder financial protection from bike theft. When purchasing an insurance policy, the owner must declare a parameter for the bike called the “Insured Declared Value” (IDV). In the event of theft, the owner will receive compensation roughly equal to the bike’s IDV.*
7. Calamities, Both Natural And Man-Made
A Comprehensive Bike insurance policy also covers repairing a bike damaged due to a natural or artificial disaster. While unnatural calamities include vandalism, riots, bandhs, etc., natural calamities include floods, earthquakes, landslides, etc.*
Claims are subject to terms and conditions set forth under two-wheeler insurance policy.
Standard T&C Apply
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.
