To avoid traffic jams, most would opt to ride a motorcycle. It is quicker and easy to navigate along highways. However, there should be a safety net for you and that is why you should consider to buy all protection insurance policy Malaysia. To protect you and your rider, it is essential that you wear safety gear on the road, and this includes an insurance policy. Read more to find out about rider insurance.
Reasons Why You Need Motorcycle Insurance
Lower financial burden
When you buy an insurance policy, you are financially protected from unpredicted circumstances such as a third party’s death, accidents, or injuries. Motorcycle insurance functions the same as car insurance. The policy shields you from losses or damage to your motorcycle because of a fire or thievery, however, this depends on the type of policy you applied for. Additionally, if anything happens to your motorcycle, the insurance would be able to help.
Renew road tax
Motorcycle owners need an insurance policy to renew their road tax as well. If you don’t acquire insurance then it would be difficult to activate your road tax and this could increase the risk of police summons.
The Types of Motorcycle Insurance
‘Single Rider’ policy
This type of insurance only protects one rider that is named in the policy. The name is commonly the owner of the motorcycle. The policy will not provide coverage if the motorcycle is involved in an accident that doesn’t involve the named rider in the policy. Thus, you cannot claim the insurance. To conclude the single rider policy, you are the sole insured rider of the motorcycle and if anyone else damages the motorcycle, the coverage will not be provided.
‘All Rider’ policy
Just like its name, the ‘all rider’ policy ensures that the owner and any rider of the motorcycle are insured. However, it is a bit expensive to cover because of the premium plan. Nonetheless, it is still worth it because your motorcycle, the rider of your motorcycle no matter who is it, is protected. The coverage includes third party, third party: fire and theft, and comprehensive insurance.
What else can I add to the insurance?
Included in your insurance plans are some additional coverages that provide you with financial protection. Some of them include:
- Natural disaster damages (damages due to floods or landslides)
- Riot and commotion coverage (damage due to riots, or civil commotions)
- Additional accessories (damages due to thefts or stolen accessories)
- Legal liability coverage (protects the policyholder in case of accidents against the liability of the passenger)
- Personal accident coverage (compensation to the policyholder in case there are injuries, disability, or death that are caused by an accident)