Majorly there are three types of bike insurance policies for motor bikes offered by most of the insurance companies – Liability insurance, Collision insurance and Comprehensive insurance

Liability insurance - This type of insurance policy covers the injuries and damages of an accident for the other people involved in an accident with you. This is the most basic and cheapest bike insurance policy to get into. Since this insurance policy does not cover the insured or his bike, this insurance policy is opted only by a few people.

Collision coverage – This type of bike insurance policy is bound to pay for the damages done to you and your motor bike. Before opting for collision coverage it is important to check if the cost of the bike will be replaced or if it is deemed a total loss by the insurance company. You will have to read the terms carefully to take note of the policy terms firmly stating that they will only pay the depreciated value of the bike. Also you will have to your policy also provides you with the medical coverage. Do not purchase an insurance policy that sells itself by the name of cheap motor bike insurance policy covering only a few aspects of medical coverage or none at all.

Comprehensive coverage - This is a bike insurance policy that covers incidents like fire or vandalism damages caused to your motor bike. If your motor bike gets stolen, comprehensive coverage replaces the bike for you.