Is your two-wheeler met an accident? It gets severely damaged? Want to repair it perfectly? Then insurance can help you. two-wheeler of the easiest ways to overcome your bike accident is by purchasing the legal two-wheeler insurance. It is helpful for you in many circumstances. Mainly during the unexpected expenses, this insurance is effectively utilized.
In most of the country, third party insurance becomes mandatory. Having any doubt or confusion based on the two-wheeler insurance policy may take you to the wrong choice. Sure this may cause huge problems. In order to avoid such confusion, you must clearly understand the insurance before you are going to purchase it. There are many things you must consider while choosing two-wheeler insurance.
Things you should check at the time of two-wheeler insurance:
Below, you can check out some of the interesting factors at the time of choosing the two-wheeler insurance.
There are around 2 types of a two-wheeler insurance policy that are readily available. You can choose the most suitable one. Those types are third party and comprehensive insurance.
Read More – How to Transfer Your Two Wheeler Insurance from Your Current Bank?
Third-Party Insurance
This insurance mainly offers cover for only the damage or accident done by your vehicle to any property of the third party. This cover is not for damage or theft to your vehicle. It is also to be noted that, this third party insurance will give you cover against any type of legal liability that occurs to the third party due to any accidental damages. Those damages like the death of a person, property damage or permanent injury.
Comprehensive Insurance
This policy mainly supports in ensuring your two-wheelers against any type of risks like damage or theft of the bike and much more. Along with that, it will also mainly cover any damage or accident caused to the third party. This insurance will offer cover against man-made calamities and natural calamities.
Also, Check – 7 Ways To Avail Best Motor Insurance Deal
You must renew both insurance covers every year since it is valid for one year only. This policy mainly depends on various factors such as geographical zone, vehicle age, and type of policy.
-
IDV- Insured Declared Value
The insured declared value is considered as the latest market value of the bike. This IDV is said to be the maximum amount that you can able to claim at the time of insurance in case of theft or total loss. To be frank, according to the bike age increase, the insured declared value will decrease.
-
Premium
In general, the policy premium can able to be affected by an enormous number of factors. Here, based on the CC – Cubic Capacity, your insurance coverage will be mainly determined. There are around 3 categories of cubic capacities are available like 0 to 150CC, 150 to 350C and 350CC and more. Here, the premium is based on the category of your bike. Apart from that, location is considered as the major factor for the premium calculation.
-
NCB or No Claim Bonus
It is basically considered as the additional bonus and it can be grabbed at the time of having the claim-free policy term. The no-claim bonus can be provided as an offer on the premium policy. Here 50% bonus is provided.
-
Riders
In case you feel that the current insurance policy coverage is not enough, then you can increase the two-wheeler insurance policy coverage. This can be possible by adding the riders to the existing policy. Here, the common riders mainly include personal accident cover, roadside assistance and much more.
-
Shop insurance online
If you have decided to shop for insurance online, then no one will interfere in this procedure. You can directly deal with the company. Due to that, the commission amount will be saved. The paperwork is also very less at this type of process. It is considered as the lower policy premiums.
-
Impact of the claim procedure
Based on the claim procedure, you can able to get the effective two-wheeler insurance policy. It is very much easy to claim. In order to know about the claim settlement efficiency, then you can check out the claim settlement ratio.
Why Opt For Vehicle Insurance?
Having a Two-Vehicle Insurance is one of the best options while buying a vehicle. Various types of insurance schemes are available and helpful for saving your money and time in case of a financial emergency due to accidents, theft, or any other. Below are some of the reasons why you need to opt for the two-wheeler insurance
Also, Check – A Complete Guide to Shop for Auto Insurance
-
Avoiding Financial Losses:-
With the Two Wheeler Insurance, it is easier to protect against any kind of financial loss that occurs unexpected accidents. Of course, it is helpful for saving your time on the whole.
-
Mandated By Law:-
When you like to ride your vehicle without any valid two-wheeler insurance policy, then it is punishable by the law. Therefore, it is essential to have the appropriate vehicle insurance for riding.
-
Gives You Peace Of Mind:-
Taking the insurance policy would be a much more sufficient option for being prepared financially even when there is any unpredictable accident while riding a vehicle. In fact, it is quite a more comfortable option to give you a sense of peace.
-
Enabled With Personal Accident Cover:-
2 Wheeler Insurance policy is helpful for staying protected against the medical treatment costs from any kind of accident. It is useful for you to remain protected ultimately and gives you peace of mind while riding. Personal Accident Cover with the Insurance policy helps you to experience better convenience in finance.
Must Read – A Complete Guide to Shop for Auto Insurance
-
Cashless Repairs:
Having the insurance allows you to get your vehicle repaired anytime at the selected network of the garage. In fact, it helps you to save your money.
Conclusion:
From the above-mentioned scenario, you can completely go through the 7 things you should check at the time of two-wheeler insurance. By knowing all these, now you can get your suitable insurance and protect your bike and protect yourself too.
