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Together with automobiles, motorcycles are also exposed to various perils such as natural disasters, fire & explosion, theft, collisions in traffic and so on.
They are also subject to compulsory third party liability insurance for motor vehicles as a motorcycle itself is a peril to third parties on the road. In case of accidents, drivers and passengers on the motorcycle may also suffer potentially serious injuries.
With TMIV’s Motorcycle insurance’s coverage, you will receive the most comprehensive protection available in the market
Motorcycle insurance coverage includes the following:
1. INSURANCE ON THE MOTORCYCLE
TMIV will indemnify the Insured against loss of or damage to the Motor Cycle and its accessories and spare parts whilst thereon:
- By accidental collision or overturning or collision or overturning consequent upon mechanical breakdown or consequent upon wear and tear
- By fire external explosion self-ignition or lightning or burglary housebreaking or theft
- By malicious action
- Whilst in transit (including the processes of loading and unloading incidental to such transit) by road rail inland waterway lift or elevator.
2. THIRD PARTY LIABILITY INSURANCE
- COMPULSORY CIVIL LIABILITY INSURANCE OF MOTOR VEHICLE OWNERS as per Circular No. 22/2016/TT-BTC
- Third party Voluntary insurance with limit up to VND46bn in aggregate
3. MEDICAL EXPENSES
TMIV will pay to the Insured the reasonable medical expenses incurred in connection with any bodily injury sustained by the Insured or an Authorised Rider or Passengers of the Motor Cycle as the direct and immediate result of an accident to the Motor Cycle.
4. PERSONAL ACCIDENT BENEFITS
TMIV undertakes to pay compensation to the Insured Persons for bodily injury sustained by the Insured Persons whilst mounting into, dismounting from, driving or travelling in the Motorcycle
- Wear and tear
- Mechanical or electrical breakdowns
- Driver uses alcohol, drugs or stimulants prohibited by law
- Consequential loss
- War, terrorism, strike, riot, nuclear, radioactivity
Specific exclusions are mentioned in the policy