Is it possible to buy comprehensive insurance for a motorbike which is used for motorbike rentals?
The answer is yes, Now you can. Book2wheel has made a deal with Cebuana Lhuillier in the Philippines which provides motorbike comprehensive insurance. This insurance also covers theft protection when a motorbike is rented out. Most insurance companies in the Philippines does not cover motorbike when it is rented out. It took us 2 years of negotiations with Cebuana Lhuillier to agree with terms that also include motorbike rentals in the insurance policy. The comprehensive motorbike insurance policy covers the motorbike’s own damage, theft protection, and body injury. Let say someone has rented your motorbike and stole your motorbike the insurance also covers that.
How does insurance work if someone rented a motorbike and stole the motorbike?
In order to claim the insurance, you must have a rental agreement, a copy of the driving license of the renter, a valid ID, and a police report. The insurance company waits for 60 to 90 days before they pay you the value of your motorbike. There might be small charges which will be taken from your payout. Some insurance companies take 5 percent of the amount paid out to you. Read more about this insurance policy.
How much comprehensive insurance cost and where can I buy it?
The comprehensive motorbike insurance cost depends on the value of your motorbike. For example, you have bought the scooter for 60,000 pesos the insurance might cost you 2500 pesos for a year. The cost of insurance depends on how much is the value of your motorbike. Here is a breakdown
Does comprehensive motorbike insurance cover Hospital and medical bills during an accident?
Yes, it does cover some of the expanse of your hospital and medical bills. Again this depends on the premium of your insurance. How much you paid for that coverage. Here is an example of motorbike insurance with a premium between 2500 to 3000 pesos.
Source; Malayan insurance
Does a comprehensive motorbike cover the broken parts on the motorbike?
Yes if your motorbike had an accident the insurance company provide you the cost of replacement of new parts. The company only provides the replacement of original parts which came with the motorbike. You must make an accident report when you had an accident and obtain a police report. Here is an example of the insurance coverage details.
Source; Malayan insurance
Source; Malayan insurance
To buy the insurance you can fill out the form and the insurance company will send you the price breakdown in your email. Now you can buy online motorbike insurance without falling in lines.
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there’s no form here as mentioned above
Trying to get the form for insurance