Is Bike Insurance necessary? Find out

Now that you have bought your dream Honda, you cannot wait to hit the streets with it and put it through its paces. But before you do that, you need to purchase a two-wheeler insurance policy for your Honda. Other than the fact that the Motor Vehicle Act of India has mandated insurance for all forms of vehicles (and if you flout it, you would run afoul of the law), here are some amazing benefits that come with a Honda two-wheeler insurance policy-

1. Protection from natural disasters

The old adage "A stitch in time saves nine" applies to bike insurance as well. If you pay for an insurance policy, you would be amazed at how many catastrophes this policy will protect your vehicle from. If your vehicle were to be damaged due to any natural calamity like flood, fire, earthquake, landslide or thunderstorm, your Honda bike insurance policy will bear the cost of having your vehicle fixed up.

2. Protection from man-made disasters

A motor vehicle insurance policy extends coverage to include any damage caused to your vehicle due to acts of violence fomented by humans like theft, vandalism or a riot.

3. Third Party legal liability

This is the most crucial benefit of a motor insurance policy. The Government of India has made this inclusion of this cover an imperative. A motor insurance policy is a contract between two parties- the insured (you, the owner of the vehicle) and the insurer (your insurance provider). Anyone else falls under the third party category. It is quite possible that in the event of an accident your vehicle could injure or even claim the life of a third party. Your vehicle may ram into the third party’s property and damage it. Under such circumstances, the third party or her/his family will sue you. Your Honda insurance will take care of all the legal costs. If your vehicle hits another vehicle, and the passengers are injured, their treatment expenses will be covered by your insurance policy.

4. Personal accident cover

This is yet another reason that should convince you to purchase a Honda two-wheeler insurance policy. In the event of an accident, the sum assured will see to all your (the vehicle owner/insured) medical care needs. With an additional premium, the personal accident cover can be extended to include your co-passengers as well.

5. No Claim Bonus

If you do not make a claim on the Honda bike insurance policy for a whole year, then you can avail of the No Claim Bonus, which you can collect to add to your sum assured or utilize as a discount on your premium.

A motor insurance policy is necessary not only because it is mandatory. It affords you peace of mind because you know that your bike and your health are secured financially. Even if you were to be involved in an accident, you can count on a safety net.

Harjeet Bedi is an engineering student residing in Delhi. During his spare time, he loves to write about his passion for automobiles. Through this article, he has given information on the importance of a Honda bike insurance