A good comprehensive motor insurance policy for two-wheelers is one that keeps it secure against damage caused by natural or man-made calamities even acts of terrorism if your insurance company allows you coverage for these in your policy. Motor bike insurance is insurance purchased for motored vehicles that are two wheeled and not a trike or a quad. The primary purpose of such insurance is to provide protection against any losses incurred due to traffic accidents and against liabilities that one could incur in an accident. Insurance companies also require that the registration number of your motorbike should indicate the area of primary use of the motor bike. They also require motorbikes to be within price ranges of 000 to 000. The insurance premiums for high price range motorbikes are different and costs considerably more.
Motor bike insurance is usually one of the following types:
Third party insurance - Third Party insurance is one that covers your person and anybody else for any type of legal responsibility to a third party only. Third party, fire and theft insurance - This is a type of insurance that also covers loss of vehicle or damage caused to the vehicle due to self-ignition, lighting, fire, and even explosion. This insurance also covers theft or attempted theft of the motorbike and/or parts. Comprehensive Insurance - This type of insurance is the most popular and in addition to covering liability to third parties this type of motor bike insurance also covers the vehicle loss or damage caused by self-ignition, lighting, fire, and explosion or by theft or attempted theft and accidental damage to the motorbike. Full coverage Insurance - This type of insurance is the combination of Comprehensive and Collision coverage. Liability insurance for bodily injury or property damage is generally also implied with this type of insurance.
Every policy is usually subject to the terms and conditions of the policy which could differ from one insurance company to another.
Insurance premiums are mandated by the government or determined by the insurance company in accordance with the regulations set by the government. Generally insurers have more freedom to set the pricing of insurance based on coverage of physical damage rather than on mandatory liabilities. When premiums are not mandated by the government, insurance companies generally derive at premium values based on statistical data.
Government makes it mandatory to have a minimum of third party insurance to protect third parties against the financial liabilities as a result of loss, damage or injury caused by the vehicle. Some states require insurance to be carried at all times. Whether a state requires you to have insurance at all times with you or not, it advisable that you keep it on hand in case an officer request's it.
Getting motor bike insurance helps you in avoiding yourself some unnecessary hassles and is easy on the wallet in the long run too; not to mention that it is required by law. Motor bike insurance usually covers all expenses related to accidental injury or as is specified in your policy. Policies can also cover stereo systems, emergency treatments if any, legal costs if any and loss due to fire and/or burglary.
Generally what is not covered in a policy is normal wear and tear and general ageing of the motor bike, depreciation or any consequential loss of the motor bike and mechanical or electrical breakdowns.