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.
Third Party Liability 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
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.
Comprehensive Full Cover Bike Insurance
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.
Benefits of Bike Insurance
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:
- Reduction of financial stress - Owning a two-wheeler and ensuring it's protecting it against all risks is very important. Losing a bike or it gets damaged, can be emotionally stressful along with having a financial loss. Two wheeler insurance covers the financial liability associated as the insurer compensates for the damages to the vehicle.
- Expanded Coverage - It is the final decision of the applicant as to which insurance policy he/she wants his bike to be insured with. Third-party liability insurance, comprehensive insurance, and fleet insurance being the three major motorbike insurances available in UAE.
- Instant Policy - Faster technology and financial conveniences, a digitally signed insurance policy is readily available and issued to the policyholders.
- Additional covers - With an extra premium, an insurance company can provide you with additional benefits and covers that will be beneficial for your bike in the long run.
- Transfer of No Claim Bonus - If you purchase a new vehicle, the bike insurance company enables the facility to transfer your no-claim bonus. An important point to be noted here, a no-claim bonus is always offered to the vehicle owner and not the vehicle. Insurance companies in UAE offer this transfer as a return for shelter driving applies.
- Easy purchase and online renewal - Online purchase and policy renewal is available for policyholders through the insurance company websites.
How to Choose the best two-wheeler insurance
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:
- Understanding needs and expectations - The applicant must be very clear about his requirement. This will help the coverage analyses easier and get a policy with good premium rates.
- Reputation and Reliability of Insurance Provider - No one would rather invest in an insurance company that does have a reputation in the market. The market value of the company would help the proper settlement of claims and premiums with less hassle.
- Plan comparison - We often compare everything we do. It is a good practice to compare your insurance policies with different insurance companies before purchasing one. This will help you know the offers and discounts available and help to select at a better cost.
- Coverage evaluation - To avoid any financial losses, it is key to analyze your insurance coverage and whether the policy is based on your requirement.
Additional Covers with Bike Insurance
Insurance companies offer many other additional covers apart from the basic insurance plan. Some of the additional covers offered are:
- Agency Repair Cover - Insurance companies have tie-ups with few workshops. If your insurance policy has the agency repair cover, then you can get your bike repaired at the insurance authorized workshops for any damage that occurred due to accidents. The general time frame for this cover to be availed is two years from the registration as to a new vehicle.
- Fire and Theft Cover - A damaged or loss occurred due to an accidental fire or theft can be covered under this additional cover.
- 24 Hour Accident and Breakdown Recovery Cover - The additional coverage can also include 24-hour accident recovery, towing services, flat tyre replacement, vehicle assistance in case of a dead battery, and emergency fuel delivery.
- Loss of Personal Item coverage - Any loss of personal belongings such as helmet or protective gear is an additional cover added to the insurance policy.
- Geographical Extension Cover - General two wheeler insurance policies are only valid within the UAE. However, the additional cover that extend beyond these geographical limits including other regions.
- Cover Against Civil Disorder and Natural Hazards - This additional cover includes any damage caused due to natural hazards such as earthquakes, volcanoes, floods, hurricanes, etc.