BAGIC Two Wheeler Insurance - India Post Payments Bank
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Two-Wheeler Package Policy
Unmatched Care and Protection for your Bike
Two wheelers are a vital part of the economy as the most convenient mode of transportation. Two wheeler insurance is required to reduce the risk that generates from being on the road in general. These are the following benefits and facts to have a Bike Insurance Policy:
- Natural Calamity Coverage
Earthquakes and floods are less frequent; still, it is something that your bike insurance policy covers. If you become a victim to uncertainties, one can always seek a claim for the damages under the bike insurance policy.
- Third-Party Coverage
A third party is also known as ‘act only’ insurance and is compulsory for everybody under two wheeler insurance. It is a bike insurance cover in which the two-wheeler insurance firm covers damage to the third party, the insured bike and person is protected from the legal obligations towards the third party.
- Personal Coverage
The bike insurance policy also covers the owner and will compensate in case of injuries due to bike accidents. The person can use the money, the amount of bike insurance claim can differ under different circumstances.
- Mandatory by Law
Law is the prime leading authority and can abide by the citizens. The bike insurance policy is a mandatory aspect of Indian law. Under the Motor Vehicles Act, every vehicle owner has to have at least a third-party two-wheeler insurance cover.
- Financial Cover
Any accident that occurs creates havoc and damage to people’s lives and the vehicle as well. The financial coverage accompanying a bike insurance policy is a safety net for the policyholder. Any damage to your vehicle in an accident will not break you financially.
- Coverage from man-made disasters
Man-made disasters like theft, robbery, riot, strike, terrorist activity, damage in the transit by road, rail, lift or elevator, is covered under the coverage of bike insurance claims from man-made disasters.
*Terms and conditions apply
For more detail on Two Wheeler Insurance Product, please download here the product brochure.
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Disclaimer - The participation by IPPB’s customer in insurance products is purely on a voluntary basis. There is no ’linkage’ either direct or indirect between the provision of banking services offered by the bank to its customers and use of the insurance products.