Here are the six things you should know before buying an insurance policy for your new bike:
- Type of Insurance Policy: All vehicle insurance policies fall in one of the following two categories:
- Third-Party Cover: Third-party insurance policy does not cover your vehicle. It only covers the damages caused to another person or vehicle in case of an accident. This is a mandatory coverage if you want to ply your bike on public roads.
- Comprehensive Cover: Comprehensive plan insures your vehicle against any damage due to theft or accident. Additionally, it covers the damages caused to the third party as well. Most of the comprehensive plans safeguard your vehicle against natural calamities like floods, earthquakes, etc.
Click here to apply for a motor insurance.
The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.
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