Why I am paying my Bike Insurance premium ?

POSTED BY Gowtham ON January 9, 2014 10:31 am ONE COMMENT

Hello Friends,

My dad had been Paying the Bike Insurance for more than 5 years, but he never claimed anything( Happy that, No Accidents till Now). I asked my dad for ”what purpose we are paying insurance premium?”. But answer I got is just simple( as many ppl thinking),”Becz I don’t need to give money to police”. . .

I need a clarifications for the below mentioned questions,

1) What will be Compensation Amount I’ll get for my bike if meet in accident?

2) If anything happen to the driving person apart from the insured prsn?(consider that my father name is printed on insurance document but I’m driving).

3) whether Insurance will be effective if i drive the vehicle in apart from the home state which the bike is registered?

4) What will be the procedure to take insurance(United India)  i missed to pay  my insurance before renewal date. (I’m driving my bike without insurance ,it been over by Oct’13).

5) In an accident third person got injured or died, Is there any favor from insurance company to third party?

6)Apart from this is there anything to be noted in Bike insurance, kindly advise….

One reply on this article “Why I am paying my Bike Insurance premium ?”

  1. rajkanwar321 says:

    Let me answer your questions one by one:

    1) What will be Compensation Amount I’ll get for my bike if meet in accident?
    Ans – It might be a huge one depending on the damages on your car plus the third party car if it is your fault.

    2) If anything happen to the driving person apart from the insured prsn?(consider that my father name is printed on insurance document but I’m driving).
    Ans – That depends on the policy. Some policies do allow for the insured person as well as the driving person.

    3) whether Insurance will be effective if i drive the vehicle in apart from the home state which the bike is registered?
    Ans – That again will be dependent on your policy. As far as I know your insurance can only cover if you drive only in your state. Though I may be wrong.

    4) What will be the procedure to take insurance(United India) i missed to pay my insurance before renewal date. (I’m driving my bike without insurance ,it been over by Oct’13).
    Ans: You should immediately consult with the insurance company and get it insured since insurance is required by law.

    5) In an accident third person got injured or died, Is there any favor from insurance company to third party?
    Ans: Yes, Insurance policies cover these. Read your insurance document.

    6)Apart from this is there anything to be noted in Bike insurance, kindly advise….

    I would suggest to look at the site below for more details on the features or benefits of taking a bike insurance since I opted for the same company. Best of luck. Drive Safe!

    http://www.libertyvideocon.com/products/two-wheeler-insurance

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