How to Choose the Right Bike Insurance: Factors to Consider
Type of coverage : There are two main types of buy bike insurance : third-party liability and comprehensive. Third-party liability insurance is the minimum required by law, and it covers any damage you cause to other people or their property. Comprehensive insurance covers both third-party liability and damage to your own bike, regardless of who is at fault. Cubic capacity of your bike: The cubic capacity of your bike (i.e., the size of its engine) is one of the main factors that determines the cost of your insurance premium. Higher cubic capacity bikes are typically more expensive to insure, as they are considered to be riskier to ride. Insurance declared value (IDV): The IDV is the maximum amount that your insurance company will pay out in the event of a total loss or theft of your bike. It is based on the current market value of your bike, and it is important to make sure that it is set at an accurate level. Add-on covers: Add-on covers can be purchased to extend the covera