Home Insurance Insure Your Sports Bike with These Nifty Tips

Insure Your Sports Bike with These Nifty Tips

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Superbikes are a category in themselves in the biking world. Unlike ordinary street bikes, its power figures are nothing less than three-digit numbers. It is a sure-shot way to feel the adrenaline rush. While they are synonymous with speed, agility, and sharp aesthetic, their repairs do not come cheap. For a bike to receive the superbike tag, must be over 600 horsepower. Most commonly, these bikes are also known as litre-class bikes.

Just like ordinary bikes, spots bikes also require registration to legally ride on the roads. With the registration of the bike, comes the requirement for PUC certification as well as its insurance cover. These three documents are critical vehicle documents for your bike. Here are some tips to keep in mind when availing a two wheeler insurance policy for your superbike.

  • Wider insurance coverage

Insurance plans for superbike, just like ordinary street bikes, is available in the same two types—a third-party plan as well as a comprehensive insurance cover. A third-party plan covers the legal liabilities arising due to an accident. Hence, it is prescribed as the most basic insurance coverage required for all vehicles. With a two wheeler insurance third party plan, only those liabilities payable to a third person, either for the injuries or damages to their vehicle are compensated under this type of policy. There is no coverage for the repairs that may be required to your sports bike. That’s where a comprehensive plan comes into the picture. A comprehensive plan provides coverage for liabilities as well as damages to your bike. Considering the repairs for sports bikes are expensive, it is advisable to buy comprehensive insurance coverage which offers an all-round cover. *

  • Customization of policy

When you own an expensive sports bike, it is best to avail more than standard insurance cover. Hence, a comprehensive plan, as discussed above, is a smarter choice. Comprehensive plans allow you to purchase add-ons that enable customization of your insurance coverage. In some cases, the insurance companies even offer special insurance covers for a sport bike that basically are comprehensive policies with add-ons bundled together. Choosing these insurance covers helps increase the scope of your policy. *

  • Choosing lower deductibles

A deductible is that component that you, the policyholder, must pay before the insurance company compensates for the damages. Every bike insurance plan has a compulsory deductible which must be paid. In addition to that, the voluntary deductible is optional. With this voluntary deductible, while the premiums can be lower, it increases the out-of-pocket expense at the time of claim. Hence, you must purchase a plan with a lower deductible so that majority of the repair cost is covered by the insurance company. *

* Standard T&C Apply

These are some considerations to remember that help select an insurance cover for your superbike. While it takes skill and experience to ride these high-capacity bikes, you must remember to keep them insured comprehensively. Further, using an insurance calculator, you can appropriately manage the bike insurance price while balancing the policy coverage. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.

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