Just like any other insurance, bike insurance is a contract between the bike owner and the insurance company. The insurance protects the bike from any unpredicted financial fatalities that occurred due to an accident, theft, natural calamities, etc. A fixed amount is paid by the bike owner as a premium to the insurance company.
Every bike in the UAE should have an active insurance policy and is mandatory. It also provides coverage from any third-party liabilities that occur due to accidents that involve one or more individuals. It is momentous to renew your motorcycle insurance in a timely manner based on the insurance cover, as the financial consequences related to any accident can be on a higher side and difficult to manage.
There are majorly three types of bike insurance
As a mandate to the UAE law, a third- party liability cover offers a minimum coverage that is required to ride a two-wheeler on public roads. These policies only cover the damage costs or losses assigned by a third party during the tenure of policyholders. However, this does not cover any protection for damage caused to the insured vehicle. A comprehensive bike insurance policy can be obtained for extensive coverage.
Fleet Bike Insurance which is also known as multi-bike insurance. As the name, this insurance policy is widely used by a business that includes delivery and courier services. Under one insurance policy, multiple bikes can be added without any additional hassle or money. The major benefit of this insurance is the suppleness to add or remove two-wheelers during the lease of the insurance and based on your ease.
An all-inclusive insurance policy is available for bike owners. Damage or injury due to accident, third-party liability during an accident, theft, natural calamity, explosion, etc. is covered under comprehensive insurance. This is the highest insurance policy amongst bike owners.
Buying motorcycle insurance is necessary not because it is a legal obligation, it should be to protect your bike from any damage. Some benefits of having motorbike insurance are:
It is ideal to compare policies with different insurance providers. With the increased market rivalry, every bike insurance company provides insurance policies with many reasonable rates. Below tips can help you get the best deal for motorcycle insurance in UAE:
Insurance companies offer many other additional covers apart from the basic insurance plan. Some of the additional covers offered are:
What is covered under bike insurance?
General motorcycle insurance covers the legal fees, liability claims, bodily injuries or death, property damage. All this based on the policy period limits.
How is the bike insurance premium calculated?
The cost of the bike and type of bike sums to the premium amount paid against your bike insurance. Factors such as age, claims, history of the applicant are also taken under consideration.
Is the premium charged higher for sports and luxury bikes?
Yes, the premium charges for sports and luxury bikes are higher since the risk factor associated is also on the higher end.
What level of coverage do I need?
This is determined with the type of bike you own.