The need and utility of 2 wheeler insurance will never
change, no matter which decade or era we are living in. Buying a two wheeler is
a sensible and economic decision and there is no need to mention that it is one
of the easiest ways to beat the traffic congestion that we face daily on our
city streets.
If you are purchasing a two wheeler for yourself, then you
must not forget to buy a 2
wheeler insurance policy as its mandatory to have it under the Motor
Insurance Act. You can purchase two wheeler insurance for your motorcycle,
bike, scooter, etc. It offers wide coverage that helps you in driving securely.
Features & Benefits
The question that arises is why to buy it? Below is the list
of features and benefits that may help you in deciding.
Stress-free inspection & cashless claim service
Offer coverage on partial or total loss to your vehicle that
occur because of an accident or theft.
Provide coverage on third party damage and third party
bodily injury.
You may get attractive discounts on renewal (NCB) for a
claimless year.
Predefined reduction for the parts that requires
replacement.
Vehicle transport to the nearest garage in case of major
breakdown.
Lost key assistance
Add on coverage as well
Need of Insurance
It offers financial coverage for any type of damages or loss
that occurs because of natural calamities such as fire, flood, etc.
Coverage against man-made calamities as well that includes
theft or accident by external means etc.
The third party legal liability offers coverage against
issues arising out of injury/death or property damage to the third party by
your vehicle.
Before purchasing 2 wheeler insurance for your bike, scooty,
scooter or any other two wheeler, it is essential to know the basic terminology
of the same.
Premium
The premium you paid for insurance depends upon several
factors such as city where the vehicle got registered, model, age of vehicle,
year of manufacture, etc. Premium is decided and regulated by IRDA hence there
is not much difference across several companies.
Coverage
It is the financial protection that the insurer offers to
you and your two wheeler against any damage and loss caused due to any natural
and/or man made calamity. Coverage depends upon the insurer and the plan
chosen. That's why it is advisable to buy two wheeler insurance online after
comparison.
Exclusions
While purchasing the best two wheeler insurance, you must
check its exclusions as it will tell you about situations where the insurer
will not be able to offer coverage and required assistance.
Some exclusions will be- normal wear and tear, damage due to
drunken driving, driving without license, damage caused by war or nuclear
explosions, etc.
Claims
After purchasing the best two wheeler insurance online, you
are entitled to get the claim for the damages. It is advisable to not file for
any small claim as it will reduce the chances of getting NCB discounts at the
time of renewal.
It is advisable to read all the terms and conditions in
detail before purchasing an insurance policy. Select your policy wisely making
sure it suits your requirements.
Source: [http://twowheelerinsuranceplans.weebly.com/blog/why-to-go-for-2-wheeler-insurance]
Bike 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.
ReplyDeleteVarious elements can impact the price of Bike Insurance. The value of the dirt bike as well as the driving background of the rider, are usually essential components. The greater chance for payout for the insurance provider, the more highly-priced the fees.
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