Understanding 2 Wheeler Insurance

2 wheeler insurance is mandatory in India. The insurance policy is for the benefits of the vehicle owner as it secures both the vehicle and its owner. Two wheeler insurance provide protection against financial liability and offers you a peace of mind. Two wheeler insurance policy has always been an essential pre-requisite. This policy secures you financially and mentally in case if any mishap or accidents occur. Although, before purchasing any two wheeler insurance policy it is important to understand the different aspects of the insurance policy.

2 wheeler insurance policies are mainly of two types

Liability only policy under which it covers any property damage or any bodily injury to the third party. The policy also covers the owners of the insured vehicle. Liability only policy is mandatory according to the India Motor Act and is compulsory for every vehicle owner to have it.

Comprehensive plan covers all that included in the liability only policy plus damage to the insured vehicle. Comprehensive insurance plan provides a wide range of coverage to the customer and he/she can also avail No Claim Bonus (NCB) under this policy.

Although getting your bike insured is a must do thing, it includes a lot of risk factor too. While buying a bike insurance it is very important to check on the premium offered by the insurer. Generally, the insurance premium of a two wheeler is charged on the basis of

Value and cubic capacity of the two wheeler

Age of two wheeler

From where the two-wheeler is registered

While buying any insurance policy one should not always look for getting the cheapest premium. It is advisable that even if you have to pay a little extra you must try to check all the features that you require in the policy.

An average comprehensive two wheeler insurance policy have a lot of features and benefits. Purchasing a 2 wheeler insurance is pretty simple as it involves limited documentation and limited turnaround times. Two wheeler insurance online helps you to stay protected all the time. While operating the online two wheeler insurance a conformation copy and digitally signed policy documentation are issued immediately after subscription or renewal. Another advantage of getting insured is that you can avail cashless claims servicing across the country at selected network garage. Besides, the comprehensive 2 wheeler insurance policy, there are a plethora of add-on covers available to take care of the situation that is not covered in the main policy.

If you want to get a two wheeler insurance policy then you should also know about what the policy does not cover. There are certain things that are not covered under 2 wheeler insurance these includes-

Normal dent or tear and depreciation of vehicle

Mechanical or electrical breakdown

Loss or damage of the vehicle or person if the rider is drunk and driving

Theft of vehicle parts that are not covered under the policy

The insurance providers offer 24X7 instant claim settlement support to the insure. In the case of an accident, you can easily get your claim done by immediately informing the insurance company within 24hours. Moreover, you can avail the No Claim Bonus (NCB) on renewal if you have a claim free insurance year. Renewal of your bike insurance ensures continuity in protection against natural dangers like fire, earthquake, explosion, flood, etc. Moreover, it covers your damage and pay for the repair work. It also compensates the loss of life or any injury done to the rider and their occupants. While renewing your policy online you can compare plans from the leading provider and save money by comparing policies side by side and choosing the one that fits your pocket the best.

Source:  [http://blogs.rediff.com/twowheelerinsurance/2016/07/02/understanding-2-wheeler-insurance/ ]