The motorcycles are a good travel option as you can easily navigate through congested and high-traffic areas. These are also regarded as friendly vehicles for daily travel. No matter how cautiously you drive, accidents or natural disasters can still happen anytime and anywhere. There is a greater possibility of personal injuries and vehicle damage in case of such unfortunate incidents.
Therefore, it is crucial to have complete information regarding the motorcycle insurance coverage. Motorcycle insurance offers monetary protection in case of an accident or natural disaster for covering the expenses related to vehicle damages or personal injuries.
With this guide, you can explore motorcycle insurance in Pakistan, its importance, and what it includes.
Motorcycle Insurance in Pakistan
Based on a survey, it has been found that Pakistan is the 5th largest market for motorcycles, and the Pakistani law instructs the importance of having motorcycle insurance. This insurance protects you from paying third-party liability costs out of your restricted budget.
Importance of Motorcycle Insurance Coverage
Motorcycle insurance coverage provides you protection in different scenarios, such as:
- Accidents: Almost all motorcycle insurance policies cover the costs incurred due to physical injuries, fractures, and vehicle damages after an accident. You can get the coverage cost for the treatment of such injuries and repairing damages.
- Natural Disasters: Your motorcycle might get damaged due to any natural disaster, including earthquakes, storms, etc which cannot be predicted and estimated beforehand. You can have these damages covered under motorcycle insurance.
- Other Damages: Your motorcycle can get stolen and damaged during riots or wars for which the repair costs can be covered with an insurance policy.
What Does Motorcycle Insurance Coverage Include?
Typically, motorcycle insurance coverage involves monetary assistance for the following:
Bodily Injury Liability
Suppose any person riding with you on a motorcycle or other passenger of a second party gets injured due to an accident caused by your fault. In that case, you may be liable for medical treatment expenses, lost wages, and physical or mental health damage. This liability coverage saves you from paying all these costs from your pocket.
Collision
This coverage pays the expenses for making necessary repairs or replacements to recover your vehicle’s damages caused by a collision in an accident.
Medical Payments
Medical payment coverage facilitates you if you or your passenger gets injured in an accident. It covers almost all the expenses related to ambulance and hospital costs, x-rays, dental and surgery costs.
Optional Coverage for Custom Parts
It is an optional coverage which includes the repair or replacement costs for damaged customised parts of your motorcycle.
Personal Injury Protection
It is possible that you might not be able to go to work to meet your daily life expenses if you encounter any severe injury after an accident. But you can get cost coverage for your lost income and childcare with personal injury protection coverage. This coverage also provides the cost of a funeral in case of the worst scenarios.
Property Damage Liability
Material damage is one of the natural consequences of an accident, but fortunately, you can claim expenses for such damages. If somebody’s vehicle, residence, or any other structure gets damaged, this liability coverage aids in paying the associated costs.
Towing and Labour Costs
Driving your motorcycle after the accident might be unsafe or impossible, and you need to take it to the repair shop by towing it. For towing your vehicle, you will also need human assistance, and this coverage provides expenses related to towing and labour costs.
Before purchasing motorcycle insurance, you must know about the minimum coverage requirements and available options.
Conclusion
Having proper motorcycle insurance, you can be at ease even after facing a traumatic event as you do not have to worry about the costs of personal and vehicular damages. Therefore, you should spend some time and research thoroughly to find suitable motorcycle insurance with maximum coverage. This way, you can get assistance to cover financial losses and protection from potential liabilities.
