Motorcycle Insurance
What is a motorcycle insurance policy?
A motorcycle insurance policy is basically a contract between an insurance/insurance company and an individual, where the insurance company will pay any kind of compensation to the insured in case of an accident or in case of natural calamity or theft.
Generally, motorcycle insurance plans provide protection against accidents arising out of rider and pedestrian and third-party injuries depending on the policy you purchase. To buy the most affordable two-wheeler insurance policy with adequate coverage, it is imperative that you review various insurance policies and plan the insurance.
Benefits of Motorcycle Insurance
There are many benefits you can get with the right bike insurance policy. For example:
You'll be free from financial stress: If your car is damaged or stolen, you won't have to worry about the cost of fixing or replacing it. Because of this, the insurance company will give you the equivalent amount of financial assistance, considering the amount of damage.
You will have legal protection: Although it is no longer mandatory to have an insurance policy for riding a motorcycle on the roads of Bangladesh. In 2020, the Road Transport Act-2018 enacted this Act. But if you have a copy of the insurance policy with you while riding the bike, then you will easily avoid any legal complications.
You get a personal accident cover: If you are insured, the insurance company will pay you up to a certain amount if you suffer total permanent disability. If the policyholder dies, your family will receive the sum assured from the insurance company.
No Claim Bonus: You can enjoy benefits like the No Claim Bonus.
Is bike insurance needed now?
No, bike insurance is not required now. But if you want, you can take care of yourself and your bike with comprehensive insurance. But it is not mandatory. Even if you don't have this insurance, you can't be sued. In First Party Insurance or Comprehensive Insurance, the insurance company compensates the car owner.
How to claim bike insurance?
If you are injured in an accident, go to the nearest hospital emergency or MBBS doctor's chamber as soon as possible.
Collect and save all medical documents, such as prescriptions, emergency tickets, test reports, bills, etc., after receiving the necessary treatment. If possible, take pictures of your injuries and save them.
Submit the claim by logging into your account using the OLPolicy website and uploading the required information and documents.
Our insurance claim processing department will contact you immediately to assist you. Your insurance claim will be forwarded to the insurance company as soon as possible to settle the insurance claim.
Motorcycle Insurance Form
Motorcycle insurance is essential for every biker. It gives financial coverage for bikers from accidents, damages, and thefts.
