When buying a bike, people may hear the terms warranty and insurance. Both of these terms are frequently used interchangeably. On the other hand, people looking for bike warranty and bike insurance will discover several striking distinctions between them.
Let’s compare bike warranties and insurance now, without further ado.
What’s A Bike Warranty?
The manufacturer of the vehicle provides a bike warranty. This warranty is valid for a specific amount of time. The manufacturer warrants that they will replace any of your motorcycle’s damaged parts during this time.
Bike Insurance: What Is It?
An agreement between you and an insurance company is known as bike insurance. As per this agreement, you must pay a premium to receive coverage for your own- or third-party liabilities in the event of an accident. Make sure you carry out the online bike insurance renewal process on time. Claims are subject to terms and conditions set forth under the motor insurance policy. *
The government requires the purchase of insurance to cover third-party liabilities.
You can also choose a comprehensive insurance package that addresses personal injury and third-party liability. Download the Bajaj Allianz Two-Wheeler Insurance Appto easily access and manage your insurance policies for a seamless experience with your coverage.
Bike Insurance vs Bike Warranty
The table below lists the vital differences between bike insurance and bike warranty.
| Aspect | Bike Insurance | Bike Warranty |
| Third-party liabilities | Covers third-party property, injuries, and demise. | Not applicable. |
| Damages to the insured bike | Covers accidental damages to insured bikes. | Not applicable. |
| Replacing faulty parts of the bike | Not applicable. | Covers faulty parts and provides a replacement. |
| Customisation | Includes valuable add-ons to extend coverage. | No customisation is allowed or available. |
| Is it compulsory? | Own Damage insurance is optional; Third-party Liability is compulsory. | Warranty included at purchase; extended warranties are optional. |
| Personal Accident (PA) cover | It must be purchased separately. | Not applicable. |
| Bike Theft | Covers bike theft. | No coverage. |
| Total loss (beyond repair) | Covers total loss. | No coverage. |
| Usual wear and tear | No coverage. | No coverage. |
| Mechanical or electrical failure | No coverage. | Covers mechanical/electrical failure within the warranty period. |
| Man-made or natural disasters | Covers artificial or natural disasters. | No coverage. |
| Fire or explosion | Coverage offered. | No coverage. |
Therefore, these represent distinct forms of financial protection. If any component of your bike malfunctions within a designated timeframe, you can seek assistance through a warranty. On the other hand, if the bike sustains damage from an accident, the insurance policy should address the associated costs. Understanding the differences between bike warranty and bike insurance enables you to make informed choices based on specific situations. Utilise the Two-Wheeler Insurance Check App to assess and manage your insurance coverage for your bike conveniently.
Differentiating between bike warranty and insurance is crucial for riders. A warranty addresses faulty parts, while insurance covers accident damages. These distinct purposes empower informed choices, ensuring comprehensive coverage and peace of mind on riders’ journeys.
Get insured anytime, anywhere! Check out Bajaj Allianz General Insurance website to learn more and download the app now.
*Standard T&C Apply
Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making any related decisions.
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
