The Different Options That You Can Include In Your Basic Insurance Policy
The Different Options That You Can Include In Your Basic Insurance Policy
There are two levels of options that are open to you when you select your motorbike insurance. On the first level you have the types of coverage. This classification is generally divided into (1) comprehensive, (2) third party and (3) third party, fire and theft. Incidentally, third party refers to the other person, second party refers to the insurance company and first party denotes the policy owner of the motorbike insurance. Types of Insurance Policies Comprehensive motorbike insurance coverage indemnifies both the first party and any third party element involved in an accident. It also includes provisions for fire and theft insurance. The coverage of the policy includes the persons of the first and third party, their vehicles and people who happen to be riding with them at the moment of the accident. Third party motorbike insurance coverage is the cheapest kind of policy available. As a matter of fact it constitutes the minimum legal requirement for motorbike owners in most countries. Without at least a third party coverage, no one will be allowed to drive a motorcycle. The area of application for this type of motorbike insurance is limited to the other person involved in the mishap. It makes sure that the motorist will at least be able to make reparations for any third party injury, loss, fatality and vehicle damage that may result from his driving. Third party, fire and theft motorbike insurance coverage includes the person, the companion(s) and the vehicle of the other person. Fire coverage implies more than just damage caused by fire and fire-related agencies. It may also account for damage caused by natural disasters such as cyclones, hurricanes, floods, earthquakes and such like. It also admits damage incurred when the vehicle is being transported in a truck as equally as damage due to vandalism by humans or animals. Types of features within one policy In addition to the default benefits of each type of motorbike insurance policy, the policy owner may choose to avail of some other advantages. The motorbike insurance policy owner may opt for compensation when he loses his license because of over-speeding and other traffic law violations, because of theft, or if his license is destroyed during an accident. He may also choose to avail of technical assistance on the road or at home. Another motorbike insurance feature compensates for any damage to leather trousers and jackets, helmets, boots and motorcycling overalls. The loss of your jewelry due to an accident not caused by you may also be included in the coverage. Finally, compensation can be availed of after emergency medical treatment for injuries suffered during an accident. The monetary value of the motorbike insurance policy varies with the features included While the cost for one type of policy is standard, the features that the policy owner avails of accounts for the variations in the actual cost.
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