Mohit
got his first job at an MNC in Chandigarh and was extremely happy. While coming
back from his office on his bike one day, he met with an accident and had to be
hospitalized for a week. After spending more than a month to revive at home, he
is almost fit now and will return to work in next three-four days’ time. But
the obvious question is how will he commute now? His bike is damaged beyond
repair and does he have enough funds to get it replaced because all his savings
were utilized for medical treatments.
This
is where you will start feeling the pinch in your pockets. Just like Mohit,
there are many people who might try and ride a bike safely but uncertainties
could not be predicted and may meet up with an accident leading to own damage
or third party loss, else your vehicle may be damaged terribly under natural or
man-made circumstances. Therefore, it is advisable to purchase a suitable
two-wheeler insurance policy.
Two wheeler insurance, as the name suggests, is an insurance policy that
will offer cover protection from any liability or damage to an individual or
property due to your two-wheeler (such as a scooter, motorcycle, moped etc.).
It protects and covers the cost of damage to your vehicle due to unforeseen
incidents such as accidents, man-made or natural calamities, theft etc.
Getting
two wheeler insurance is smart and responsible thing to do in today’s time
because it secure your monetary investment. It will help you prevent getting a
big blow in terms of medication, property loss coverage and bike repair costs.
However, its not just about getting any two
wheeler insurance for your bike, its about getting the right
insurance for your prized possession. With the advent of sportsbike and foreign
companies investing in Indian markets bikes are a prized possession in today’s
time. So one must do their homework well before zeroin for an insurance policy
to go with, because there are several out there, each meeting different purpose
or needs. If you’re not aware of the subject well you can always talk to
dealers and friends who have bikes.
It
is advisable; make sure you use an online two wheeler insurance premium
calculator when you make your decision. It will help you evaluate your
requirements and provide you with options best suitable for your place of
living. By just filling up some basic details like IDV of the vehicle, Cubic
Capacity, Zone of registration and Age of vehicle you can calculate the premium
amount. IDV is calculated by reducing the depreciation from the manufacturer’s
listed selling price. It won’t include the registration and insurance costs.
With
internet based facilities availing a two wheeler is just at the click of the
button on your smartphones or computers. The best reason for two wheeler
insurance policy purchase is that if you need to take your bike to garage, you
can avail cashless repairs. Many insurance programs have tied-up with several
garages. If you have any third party property damage or third party physical
injury, your insurance cover will help you compensate for it. You can also get
instant claim assistance as well as 24 hour support for insurance company. To
boost the bike insurance segment, government has introduced three year long
term two wheeler insurance
policies. Such policies will help you cut down the cost of premium as well as
save your precious time and energy. You don’t have to keep remembering the
renewal dates or fear of policy lapse due to hectic schedule.
