All You Need to Know About Insurance for Long Distance Bike Rides

Posted on: Jan 3, 2023 | | Written by:

All You Need to Know About Insurance for Long Distance Bike Rides

Published on January 02, 2023. EST READ TIME: 4 minutes

The National Highways Authority of India has been doing an exemplary job of building and upgrading new highways. This is great news for bikers. People who love to suit up and ride for long distances at a go will cherish the new and upgraded roads. Before starting a long journey, you must ensure that your bike is serviced, you wear your safety gear, you understand the limits of your bike, and you buy/renew your bike insurancepolicy.

Packing only essentials and light is also a part of the preparation, along with knowing the route a bit better and taking frequent breaks to stay away from fatigue. However, longer bike rides can pose a few other risks. Comprehensive bike insurancecan help you mitigate a lot of these risks and ensure a joyous and adventurous long trip.

Insurance policies for long distance riders

Insurance providers in the country offer different types of bike insurance policies that you can buy. Following are the different types of policies that you can buy.

1. Third party bike insurance

A third party cover is the most basic form of bike insurance, and it is mandatory as well. The policy comes in useful if the insured meets with an accident involving other individuals or vehicles. A third party plan compensates any damages or injuries due to the accident. Since the coverage on offer is limited, it is the most affordable policy.

2. Comprehensive bike insurance

Comprehensive bike insurance offers the benefits of a third party plan and covers damages to your bike as well. It is a complete package and can offer better peace of mind when you are riding for long distances. Comprehensive plans protect your bike against floods, cyclones, earthquakes, etc., as well as riots, vandalism, theft, etc.

3. Own damage bike insurance

This is a coverage that you will want to opt for if you already have third party bike insurance. Own damage cover is essential, as you can claim repairs to your bike. And on long rides, it can come in very handy. It protects your bike against natural calamities like cyclones, landslides, typhoons, etc., and accidents, as well as riots, vandalism, and theft.

Things to look for in a bike insurance plan for long distance touring

Bikers who intend to go on lots of long rides should invest in a good bike insurance policy. It will reduce any financial and legal impacts and at the same time, ensure that you can focus entirely on your riding experience. The following are some parameters that you need to closely monitor while buying insurance for long rides.

1. Insured Declared Value:

If a bike is stolen or damaged beyond repair, insurance providers will compensate you with the IDV or insured declared value of the bike. The premium of your bike insurance depends on the IDV. Thus, a lower IDV can result in a lower policy premium. However, it is recommended that you opt for an adequate IDV and now choose the lowest IDV for a lower policy premium.

2. Bike’s engine capacity:

The engine capacity of your bike also is instrumental in deciding the policy premiums, especially third party bike insurance. There are four slabs, namely less than 75 cc, between 75 cc and 150 cc, between 150 cc and 350 cc and the last one being above 350 cc. The IRDAI regulates the premium for these slabs every year.

3. Add-ons:

Since you intend to take your bike on long rides, it might be prudent to select some add-ons. By paying a small premium, you can receive much better coverage. And it will help you save money in the long run.

4. Quick claim settlements:

For bikers who want to ride over longer distances, staying at a place for a few days for repairs and claims might be quite difficult. Thus, look for insurance providers who can settle your claims almost instantly and with minimal paperwork. This will allow you to continue with your trips.

5. Save time by buying online:

Buying a bike insurancepolicy online is one of the fastest ways of getting a plan. If you are planning for a mega trip, you can renew your policy online within a few minutes. Thereby letting you plan better and focus on packing. Buying a policy online will also help you save money, as online policies are more affordable.

6. Compare plans before buying:

Another perk of buying a policy online is that you can compare policies from different vendors. This comparison will enable you to buy a policy that offers adequate coverage without affecting your budget.

Add-ons you should consider for your bike insurance plan

Comprehensive bike insurance policies offer better coverage as compared to a third party liability only policy. However, for people who want to go on long rides, it might not be enough. This is where add-ons are quite effective. By paying a small premium, you can enhance the policy coverage by a considerable margin.

Here are some add-ons that you should consider for longer rides.

1. Key protection cover:

During long trips, you might misplace or lose your keys. Such instances can spoil your trip and even cut it short. However, with key protection coverage, the insurance provider will cover the expenses related to replacing the keys.

2. Outstation cover:

This add-on is quite helpful if a bike breaks down during a trip. Should you opt for this cover and your bike breaks down, your insurance provider will offer financial assistance for the bike repair. The add-on also covers accidents. However, the breakdown or accident must take place at least 100 kilometres away from the city of residence of the insured to claim the add-on.

3. Zero depreciation cover:

It is one of the most popular add-ons and for good measures. If you want to claim your bike insurance policy, insurance providers usually subtract the depreciation amount from the claim. However, with a zero depreciation cover, you need not worry about the cost of depreciation.

4. Engine protection cover:

Since nothing is certain on a long road trip, the engine protection cover can be more than useful as an add-on. It covers the loss or damage to the engine due to any accidents or natural calamities. As the engine is the most important part of the bike, you can consider the add-on.

Conclusion

To ensure that you enjoy your long road trips with your loved ones, it is essential to opt for adequate bike insurance coverage. The type of insurance and add-ons that you choose differ a lot depending on the usage of the bike. If you are someone who wants to saddle up and go on long rides, the above information will help you to choose the right policy.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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