Bundled insurance in two-wheeler insurance means a policy that covers for own damage for one year and also covers a third party for say a period of 3 to 5 years. It is stressful for bike owners to renew their policy and also for getting more coverage in case of an accident, bundled two-wheeler insurance is offered by insurance companies.
The bundled two-wheeler insurance offers mandatory third-party insurance for a longer duration and optional own-insurance coverage for one year. So, you can pay a premium for one year and renew annually for your own damage while for third-party you get cover for 3-5 years. Bundled insurance policy in a two-wheeler provides the advantage of not only broader coverage but also relieves you from remembering the renewal dates along with providing more comprehensive coverage through Add-ons.
Bundled Two-Wheeler Insurance Policy has Certain Inclusions, Exclusions and Also Add-ons That Can Help Increase Coverage
Inclusions To Bundled Two-Wheeler Insurance Include
- Loss or damage on a two-wheeler due to perils like accident, fire, lightning, theft or burglary & housebreaking, flood, earthquake, riot, strike, vandalism or any malicious damages.
- Loss on two-wheelers due to legal liability to death or bodily injuries, property damage of a specific amount as stated by the particular insurer along with the cost & expenses incurred.
- Risk on two-wheelers due to personal accident for the owner or driver or in the name of an individual who holds an effective & valid driving license for the registered vehicle.
Exclusions Of The Bundled Two-Wheeler Insurance Include
- If the vehicle is used for hire or reward.
- If the two-wheeler is employed in racing, speed testing or reliability trials.
- If the vehicle is used outside the geographical area or outside India.
- If the vehicle is driven under influence of alcohol or drugs.
- If there is consequential loss or wear & tear or mechanical & electrical breakdown.
- If there are nuclear perils of war & terrorism.
Add-Ons Under Bundled Two-Wheeler Insurance Include
- Return to invoice.
- Depreciation.
- Consumables cover.
- Emergency Medical Expenses.
- Personal Accident Cover.
- Roadside Assistance.
- No claim bonus or NCB.
- Insured Declared Value (IDV).
Conclusion
Bundled insurance for two-wheelers are one among many insurance plans to ease out buying insurance for the vehicle. The Premium for bundled two-wheeler insurance depends upon the age of vehicle and its cubic capacity.The Policy can be cancelled by either the insurer or the insured in case of double insurance policies, in case vehicle is not in use because of Total Loss or Constructive Total Loss and in case the vehicle is sold or transferred to another. So, depending upon your requirement, choose bundled two-wheeler insurance wisely and read all terms carefully before making any insurance purchase.
