Bike Warranty vs Insurance

A bike insurance policy offers financial protection against damages caused to your bike or a third party due to an accident or collision involving your bike. When you buy a two-wheeler insurance plan, the insurance provider offers coverage based on the type of policy you choose. There are three types of bike insurance policies:

1. Third-Party Liability policy – This policy offers coverage for damages to a third-party person or property due to an accident or collision involving your bike. In India, it is mandatory for all bike owners to have a third-party two-wheeler insurance policy.

2. Own Damage policy – This offers coverage for damages to your bike or injuries to you due to an accident involving your bike.

3. Comprehensive policy – This includes third-party liability and own-damage cover. It also includes damages to your bike due to accidents, collisions, natural disasters, and man-made disasters. Further, if your bike is damaged beyond repair (total loss) or stolen, then the insurer offers the sum assured as reimbursement.

At Tata AIG, you can buy and renew your policy online in a hassle-free manner. We offer a range of plans and an online calculator to help you compare two-wheeler insurance plans and choose the one that best meets your requirements. We have also ensured that our claims process is simple and involves minimal paperwork. With our comprehensive insurance for 2-wheelers, you can choose from a range of riders to customize the policy as per your needs.

When you purchase a bike, the manufacturer usually offers a warranty period to assure you of its quality. During the warranty period, if your bike faces defects or any performance issues that can be attributed to its parts or design, then the manufacturer repairs or replaces the defective parts without any additional cost to you.

The usual inclusions of a bike warranty are:

• Electrical parts;
• Mechanical parts; and
• Safety equipment

Bike warranty does not cover:

• Regular wear and tear
• Illegal or negligent riding
• Consumables costs
• Modifications or alterations done to the bike

With a bike warranty, you don’t have to worry about faulty parts or electrical/mechanical failure. However, it does not offer coverage for damages due to accidents to your bike or to a third-party person or property.

If you are unsure about opting for a bike insurance policy and/or a bike extended warranty in India, then here is a quick look at bike warranty vs insurance to help you make the decision.

Additionally, you can customize the bike insurance policy to suit your needs. However, you cannot do the same with a bike warranty. Also, third-party bike insurance is mandatory in India. Driving without a valid policy is a punishable offense. When you purchase a new two-wheeler, the bike warranty is usually a part of the purchase. However, bike owners can opt for a bike extended warranty in India based on their needs.

A bike warranty and insurance offer financial protection to your two-wheeler. However, the type of protection they offer is different. While a bike warranty is primarily about coverage for faulty parts and defects, a bike insurance policy is designed to offer coverage for damages to a third-party person or property and damages to the insured bike due to an accident or collision involving it. Hence, it is recommended to have both types of coverage for your two-wheeler.

Is a bike warranty the same as bike insurance?

A bike warranty offers coverage for faulty parts or defective bikes. When you purchase a new bike, the manufacturer offers a warranty period during which any manufacturing defects or faults are repaired at no additional cost to you. On the other hand, bike insurance offers financial protection from damages to a third party or the insured vehicle due to an accident, mishap, theft, total loss, or disasters (natural or man-made).

Should I buy an extended warranty for my bike?

Many manufacturers offer a bike extended warranty in India. This ensures that any fault or defect in the bike is covered without burning a hole in your pocket. However, it does not cover damages due to wear and tear or accidents. Hence, make sure that you consider your potential use of the bike before deciding. If you are purchasing a used bike, then an extended bike warranty might make sense if the bike has been maintained properly and the parts are at the end of their operational life.

All the bike prices and other information listed above pertain to a specific city and vehicle model. Since this information is subject to change, it is advisable to check the latest information before purchasing a vehicle or an insurance policy.