Accidents and unfortunate incidents don’t announce their arrival. Also, you cannot always be careful while driving a bicycle through the busy streets of your city or you might face an emergency when you are enjoying a long weekend ride on a highway. Sometimes, your bicycle might get stolen during a ride or might get damaged due to a disaster like fire or riots. Therefore, it is better to get a pedal cycle insurance policy to cover these unforeseen happenings.
What is cycle insurance and how does it work?
Cycle insurance is like any other vehicle insurance that covers your financial losses in cases of theft, damage, and such other incidents. It is important to have cycle insurance in India because it will make your rides a lot safer.
A cycle insurance policy will also provide financial assistance and coverage for damage, theft, and other incidents that might occur while you are using your e-cycle. If you are looking for a cycle insurance plan that provides all these benefits and more, you can think of subscribing to the cycle insurance policy from Bajaj Finserv.
You can now apply for this Cycle Insurance Policy online as Bajaj Finserv allows you to apply via an online application form and even the payment can be done online via net banking, credit card, debit card, UPI, and mobile wallets.
The other benefits that you will get on availing of this best cycle insurance policy are given below:
The cycle insurance policy from Bajaj Finserv lets you enjoy your cycle rides on foreign trips as well as it comes with worldwide coverage. Therefore, you will get immediate financial assistance if you get injured or your cycle gets stolen while riding your bicycle in foreign territories.
High coverage with a low premium
This cycle insurance policy provides high coverage with minimum premium and offers two premium options to suit your requirements. These options are listed in the below table:
|Premium (per annum)||Maximum Coverage for accidents & damage||Coverage for accidental death|
|Rs. 899||Rs. 25,000||Rs. 2,00,000|
|Rs. 1499||Rs. 50,000||Rs. 3,00,000|
Therefore, you can pick one of these premiums as per the price of your bicycle and according to your financial coverage needs.
Cover for unforeseen events
This Bicycle Insurance India policy from Bajaj Finserv offers financial cover even for the damages caused due to riots, fire, strikes, and other unfortunate events. Therefore, you can now protect your bicycle from all sorts of damages and at all times.
The reimbursements will be done as per the agreed value or as per the value that is present on the invoice depending on which value is lower.
This policy comes with a tenor of 1 year and to be eligible for this insurance policy, your cycle must not be older than 12 months from the purchase date. Once an unfortunate situation arises, you just need to reach out to the support team as soon as possible to claim the financial cover. You can connect to the support team via a toll-free number, through the official website, or via email. With this extensive cycle insurance India policy, your bicycle is completely protected from all types of burglary and damage now!
What is not covered under the cycle insurance policy of Bajaj Finserv?
The pedal cycle policy will not cover the damage caused due to gradual aging or deterioration of your bicycle. The losses or damage caused due to electrical or mechanical breakdown are usually not covered by this policy.
If your cycle gets damaged while cleaning, servicing, or repairing it, then such expenses will not be covered under the cycle insurance policy. Also, if the insured person himself inflicts damages to the cycle then the repair costs required to restore the bicycle will not be covered by the bicycle insurance plan.