When
people purchase a bike, an insurance cover is probably the least bothered thing
for them. They feel it’s an unnecessary burden on their finances. But, bike
insurance is very beneficial for you. Imagine you’re driving your bike and
unfortunately meet with an accident. The worst part is the person or property
gets damaged severely. For a moment you’ll go mad noting down the amount of
money that you will pay for the hospitalization or property damage charges.
Thus, at one end you’re paying a monthly installment for your two-wheeler and
the other end you have to pay hefty fees for the damages done. It would be a
two-way loss for you. At such point of time, suitable Two Wheeler Insurance is what probably helps you swim safely across
the shore.
Nowadays,
the frequency of road accidents and damage on a bike is more common than any
other form of vehicle. They are more vulnerable and therefore, prone to road
accidents. Having a right kind of bike insurance policy will give you benefits
when you really need them.
In
India, there are many insurance companies who offer policies keeping the best
interests for your vehicle in mind, so that you buy right policy for your bike.
There are customized policies that will not only meet your requirements but
also fit into your budget. Online bike cover policy
purchase helps you get a good package. It is mandatory to buy at least a third
party cover to drive your bike on road. Third party Two Wheeler Insurance will not cover you or your bike but also
protects you against legal liability for the damage you caused to a third party
only – injury, death, and or/or property damage caused to a third party in the
event of an accident. On the other hand, a comprehensive policy offers overall
protection against the damage to your bike that is the result of incidents
which is unrelated to an accident/collision. It also covers damage to the bike,
theft, legal liability to the third party and cover for personal accident,
losses due to fire, storm, theft, etc. There are several ways to improve your
policy by opting for add-ons like accessories cover, engine protector, zero
depreciation cover, medical expenses etc.
People
can buy policy depending on budget and other requirements, the deductibles you
want and lots more. The premium of your policy is usually calculated on factors
such as Insured’s Declared Value - IDV
is the maximum amount that an insurer will pay at the time of a claim, Cubic
Capacity, Geographical location, Vehicle age and discount to be availed. Based
on these factors your cover is decided and premium is computed
accordingly. There several ways to
reduce your Two
Wheeler Insurance premium like good driving history, online purchase
discounts, etc. When you have a clear
driving record you end up earning No Claim Bonus which gets added to your account.
You can avail No Claim Bonus discounts of up to 50% as per the eligibility.
Insurance
markets have introduced the easiest way to buy cover via online services. You
can visit online, compare quotes and get the best suitable bike cover for your
two- wheeler. It lets you purchase insurance anytime and anywhere while on the
go. These online sites help customers to save time and energy in running across
various insurance providers’ offices for quotes, documentation, vehicle
inspection etc. It enables bike owners to get their two-wheelers insured
without physically visiting insurance companies or meeting Two Wheeler Insurance agents.
