Two Types Of Motorbike Insurance
Virtually every child, at some stage in his/her childhood
, dreams of riding a proper motorcycle when he/she grows up. This is a feeling that is further accentuated by the fun times he/she has on his/her bicycles. Although not all, some children do grow up with their dreams alive and kicking and hence end up purchasing a motorcycle the moment they get a chance!
Following this, as soon as they take their first ride on their newly purchased cherished possession they get hooked onto it for life. However, owning and riding a bike is a lot more than just reckless abandon and a carefree nature. It also involves taking care of your bike and adhering to the law of the country. Thankfully, both these metaphoric birds can be handled by one stone i.e. an insurance policy for the motorcycle.
Purchasing a motorcycle insurance policy, however, can turn out to be a chore in itself because of the fact that there are so many options to choose from. The first dilemma arises out of the choice between the two categories of insurance policies of bikes that are available in the market. Once this decision is made, it is swiftly followed by the wide array of individual policies and providers which need to be analysed.
The second aspect i.e. selection from various individual options of policies and providers is something that is very subjective. This means that this kind of selection would depend entirely on your independent requirements and cannot be generalised. On the other hand, the choice between the two main types of policies for insuring motorcycles can be described for your perusal and convenience. The following are details of the third party liability motorcycle insurance and the comprehensive motorcycle insurance.
1. The Third party motorbike insurance policy:
These are policies that are the minimal variant that the industry has on offer. The minimal criteria of these policies is decided by the law set down by the country's government in its Road Traffic Act that came into force in the year of 1988. Policies falling under this category would provide you protection with the financial consequences of you injuring a third person or damaging his property due to some accident with your bike. It should be noted that policies would cover you for the financial implications of any legal action as well.
2. The Comprehensive motorbike insurance policy:
A comprehensive policy is one that takes into account almost every contingency that you can face while riding your motorbike on the road. They take into account things like damage resulting from natural and man-made disasters, the threat posed by theft, personal accident cover and the most basic third party liability clause. Furthermore, you will also find that these kinds of policies come with additional bonus features such as accessories protection, breakdown cover, no claims bonus and multiple other things.
If you are in the midst of a selection process of motorcycle insurance policies then you need to understand the above mentioned two variants before you make your choice. Moreover, you should also note that although the latter is more expensive than the former it is also more beneficial.
by: Christopher Reinhold
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