Protect Your Two Wheeler From All Kinds Of Risks

Comprehensive, Third Party And Own Damage Bike Insurance At Tempting Premium

Protect Your Two Wheeler From All Kinds Of Risks

Comprehensive, Third Party And Own Damage Bike Insurance At Tempting Premium

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Bike Warranty vs Insurance

  • Author :
  • TATA AIG Team
  • Published on :
  • 03/08/2022

When you purchase a new bike, the manufacturer usually offers a bike warranty as a promise of the performance of the two-wheeler. If the bike faces any performance issues or defects, then the manufacturer ensures the free repair of the bike and, in some cases, replaces the current parts with new ones too.

A bike insurance policy, on the other hand, offers financial protection from third-party liabilities and damages to your bike in the event of an accident, mishap, or disaster. Both these services offer financial support to manage the costs associated with repairing your two-wheeler. But should you opt for both? Which of the two is better? Here are some essential differences between a bike warranty and insurance for 2 wheeler.

Understanding Bike 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.

Manufacturer Warranty Meaning and scope

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.

Bike Warranty vs Bike Insurance

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.

Financial protection from Bike Insurance Bike Warranty
Third-party liabilities If your bike is involved in an accident or collision and damages third-party property or person, then a bike insurance policy offers coverage. No coverage for third-party liabilities under a bike warranty
Accidental damages to the insured bike Comprehensive two-wheeler insurance plans offer coverage for accidental damages to the insured bike It offers coverage only for defects and malfunction of the bike. No coverage for accidental damages
Manufacturing defects No coverage for any manufacturing defects in the bike Complete coverage for manufacturing defects. The manufacturer repairs or replaces the faulty parts within the warranty period
Bike theft Comprehensive plans offer reimbursement if your bike is stolen No coverage for the theft of your bike
Bike damages (beyond repair) or Total Loss Comprehensive plans offer coverage for total loss No coverage for total loss
Wear and tear of the bike due to use The wear and tear of the bike and its parts are not covered under bike insurance Bike warranty does not offer coverage for the damages due to the wear and tear of the vehicle
Electrical or mechanical failure No coverage During the warranty period, the manufacturer offers free repair and/or replacement of parts if the bike suffers from an electrical or mechanical failure
Damages to the bike due to disasters (natural or man-made), fire, or explosion Comprehensive plans offer coverage for such damages A bike warranty offers no coverage for such damages

Some Other Bike Warranty Insurance Differences

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.

Conclusion

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.

Frequently Asked Questions

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.

Disclaimer

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.

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Disclaimer / TnC

Your policy is subjected to terms and conditions & inclusions and exclusions mentioned in your policy wording. Please go through the documents carefully.

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