• BMW Two Wheeler Insurance

    Two Wheeler Insurance
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    BMW Motorrad, which is the motorcycle arm of the German firm BMW, is one of the best motorcycle manufacturers in the world. The bike manufacturer has produced two-wheelers since 1923. Except for G310 series, the production of all BMW Motorrad motorcycles takes place in Berlin, Germany. If you own a luxury motorcycle from BMW Motorrad, it is essential to purchase a two wheeler insurance policy with extensive coverage to ensure that your vehicle and you are protected from financial losses due to untimely events.

    Motorcycles Manufactured by BMW Motorrad

    • Sport Series: BMW S 1000 RR and BMW R 1200 RS
    • Roadster Series: BMW R 1200 R, BMW S 1000 R, and BMW G 310 R
    • Heritage Series: BMW R nineT Racer, BMW R nineT, and BMW R nineT Scrambler
    • Adventure Series: BMW G 310 GS, BMW R 1200 GS Adventure, BMW R 1200 GS, and BMW S 1000 XR
    • Tour Series: BMW K 1600 B, BMW K 1600 GTL, and BMW R 1200 RT

    Insurance for BMW Motorrad Two-Wheelers

    A luxury motorcycle from BMW Motorrad is more than just a means of transport. For many individuals with premium motorcycles, the bike is also a valuable asset that is worth protecting. Thus, it is necessary for you to purchase a two wheeler insurance policy that will provide you financial coverage against untimely incidents. Also, it is advisable to purchase the riders or add-ons that you require to enhance the protection offered by the base policy. While the number and type of add-ons that are offered by various motor insurance companies will vary, some of the common riders that are offered by insurers are the Zero Depreciation Cover, Personal Accident Cover for Co-Passengers, etc. Although these riders are usually offered by motor insurance companies for an additional price, it is advisable to purchase the add-ons that you require since it will give your BMW Motorrad two-wheeler increased coverage.

    Types of two wheeler insurance Policies Available for BMW Motorrad Motorbikes

    As a prospective bike insurance policy buyer, you can purchase any one of the following insurance policies:

    1. Third-Party Liability-Only Insurance Policy: The third-party liability insurance cover is a basic two wheeler insurance policy that provides minimum coverage to the policy buyer. The Motor Vehicles Act, 1988 makes it mandatory for all two-wheeler owners to purchase at least this policy, if not the comprehensive two wheeler insurance policy. The premium rate for third-party liability insurance covers is determined by the Insurance Regulatory and Development Authority of India (IRDAI). The premium that you will be required to pay for this policy will be based on the engine capacity of your BMW Motorrad two-wheeler. The coverage offered by this policy is as follows:
      • Damage to a third party’s assets, property, or vehicle
      • Injury or death of a third party
      • Accidental death of the driver/owner of the vehicle
      • Permanent total disability of the driver/owner of the vehicle
    2. Comprehensive two wheeler insurance Policy: The comprehensive two wheeler insurance policy not only provides you a cover against third-party liability but also covers vehicular damages and total losses due to natural and man-made events. This type of policy is recommended to individuals who would like a more well-rounded coverage. The comprehensive two wheeler insurance policy is renewable annually. If one hasn’t made any claims during the policy year, the concerned individual will receive a No Claim Bonus from the insurer. This policy offers coverage to the policyholder for a duration of 1 year, after which it will have to be renewed. The coverage offered by this policy are as follows:
      • Vehicle damage or total loss caused to the vehicle due to a natural or man-made disaster
      • Road accidents
      • Personal accident cover for the owner/driver of the vehicle
      • Third-party liability cover
    3. Long-Term two wheeler insurance Polic: The long-term two wheeler insurance policy offers the same coverage as a comprehensive two wheeler insurance policy. However, this policy offers coverage for a policy term of 2 years or 3 years. Policy buyers who purchase long-term two wheeler insurance policies also receive better No Claim Bonus benefits since the No Claim Bonus does not become nil but simply gets reduced in  the event of a claim. The coverage offered by long-term insurance plans are as follows:
    • Third-party legal liability cover
    • Vehicular damage/loss  due to man-made/natural calamities
    • Accidents
    • Personal accident and permanent disability cover for the policyholder/owner/driver of the vehicle

    *Note: For the complete list of inclusions and benefits, make sure to refer to the policy document provided to you by the insurer or the policy brochure.

    Exclusions under two wheeler insurance Policies for BMW Motorrad Two-Wheelers

    Even if you purchase a two wheeler insurance policy to protect you from the financial implication of an untimely event, you should know that the policy will have certain limitations. Listed below are some of the common exclusions that are applicable for motor insurance policies:

    1. Third-Party Liability-Only Insurance Policy: Third-party liability-only insurance policies offer limited coverage to the policyholder. The most common exclusions are as follows:
      • Damage caused to policyholder’s vehicle due to man-made events such as riots, theft, burglary, etc.
      • Damage caused to one’s vehicle due to natural calamities like floods, storms, hurricanes, etc.
    2. Comprehensive two wheeler insurance Policy: Both annual comprehensive two wheeler insurance policies and long-term two wheeler insurance policies have a few limitations, such as:
    • Driving one’s two-wheeler when intoxicated
    • Driving your personal two-wheeler for a commercial purpose
    • Regular wear and tear that causes damage to your vehicle over time
    • Damages or loss caused to one’s vehicle when using it for a malicious or criminal activity
    • Driving with an expired two wheeler insurance policy or driving without a license
    • Staged accidents
    • Mechanical and electrical failure

    *Note: For the complete list of exclusions, make sure to refer to the policy document provided to you by the insurer or the policy brochure.

    Why is it Necessary to Insure Your BMW Motorrad Two-Wheeler?

    The main purpose of purchasing a two wheeler insurance policy is to ensure that you always have a cover against any expenses that you might have to incur in the event of a vehicle damage, loss, or theft. For premium BMW Motorrad two-wheelers, it is necessary to purchase a comprehensive two wheeler insurance policy and customize the policy by opting for the add-ons that you require.

    Also, if you wish to get the best coverage for the premium that you are willing to pay, it is necessary to compare a few different policies that are offered by motor insurance companies in India. You can do this comparison by visiting the official websites of different insurers or by visiting a trusted-third-party insurance website. Make sure to also request for premium quotes by using the premium calculator tool that you will find on the website of insurance providers.

    With a two wheeler insurance policy, in the event of an accident or vehicular damage, you will be able to avail cashless service in any network garage that has partnered with your insurance company, after completing the necessary preliminary formalities.

    After purchasing a bike insurance policy, make sure to read through the policy document to be aware of the various terms and conditions of the policy. You will need to renew the policy within the due date specified by the insurer to receive continuous coverage.

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