There are three types of Two-wheeler insurance policies which bike owners can find in the market. These include the following –
Liability only Policies
These policies are also called third party liability only policies. They cover only third party
liability which is faced when due to an accident when any third party – Person dies or
Physically injured or Property is damaged.
Comprehensive Package Policies
Comprehensive plans gives wider scope of coverage. They cover Third Party liabilities as well as the damages
suffered by the Bike in an accident. It also provides a Personal Accident cover for the owner or driver of the bike.
Long Term Two-wheeler Policies
Long term Bike insurance plans are Comprehensive Policies which are offered for multiple years.
Thus, these policies need no annual renewals. It saves on hassles of renewing as well as on the premium costs too.