Acko Technology and Services Private Limited is the parent company of ACKO General Insurance. Acko, founded in 2016, is a digital company that focuses on providing services directly to customers. Acko uses advanced technology to improve customer experience and create better value for customers.
Bike insurance, also known as two-wheeler insurance, protects your motorcycle or scooter from damage caused by accidents, disasters, fire, or theft. It also covers you for any harm caused to others or their property by your vehicle. You can purchase insurance for motorcycles, scooters.
Types Of Two Wheeler Insurance Policies
Third-party Bike Insurance Policy:
- This type of insurance policy is mandatory by law for all bike owners in India under the Motor Vehicles Act of 1988. It provides coverage against damages and losses caused to a third party by the insured bike.
- Third-party insurance covers bodily injury, death, and property damage to third parties involved in an accident caused by the insured bike.
- However, this policy does not provide coverage for damages to the insured bike itself or for injuries sustained by the bike owner.
Comprehensive Bike Insurance Policy:
- A comprehensive bike insurance policy offers broader coverage compared to third-party insurance. It covers damages and losses not only to third parties but also to the insured bike and the bike owner.
- Apart from third-party liabilities, comprehensive insurance covers damages caused by accidents, theft, fire, and natural calamities like floods, earthquakes, storms, etc.
- It also provides personal accident cover for the bike owner, offering financial protection in case of accidental death or permanent disability.
Standalone Own Damage Insurance Policy:
- This type of insurance policy is focused solely on covering damages to the insured bike. It is designed for bike owners who want to protect their vehicles from various risks but may not need coverage for third-party liabilities.
- Standalone Own Damage Insurance Policy is suitable for bike owners who already have third-party insurance, perhaps because it is mandatory by law but want additional protection for their vehicle.
- It covers damages caused by accidents, theft, fire, natural calamities, vandalism, etc., but does not provide coverage for third-party liabilities or personal accident cover for the bike owner.
