*. Special Coverage for Policy Holder.
*. Interesting Benefits and Facilities.
*. Facility to assure large sum.
*. Maximum Coverage.
*. Minimum age - 18 years
*. Maximum age - 65 years
*. Maximum Sum assured.
*. Bonus for Policy Holder.
*. Plans as per savings, retirement, investment.
In this fast moving world, having better conveyance facilities is what one needs as top priority. And when it comes to better conveyance, nothing can beat the convenience of having a two wheeler. Whether you have to go through narrow roads or you are stuck in heavy car jam, two-wheeler is the perfect solution to get out of the situation and reach your destination on time.
According to motor vehicle act of India, it is mandatory to have bike insurance to ride the vehicle legally on the roads. Research suggests that today most people have a two-wheeler, but, most forget about their legal duty of having bike insurance. They avoid buying a motor insurance policy believing that it is just a mere waste of money. And thus, they don’t understand that the policy actually protects them from a wide range of unforeseen event or conditions such as accident, theft, burglary, and more. Hence, an insurance policy is the best way to avail maximum protection to your vehicle from any unforeseen event. Also, it helps in getting rid of a lot of worries and monetary stress.
Even though, vehicle insurance has been mandated by the Government of India, majority buyers are not fully aware of the nitty-gritty of the insurance plan. Thus, the insurance premium becomes the deciding factor for buying the right policy plan, without being aware that the higher premiums not always provide higher protections and this sometimes lead to unsatisfactory claims. Hence, one needs to be very clear while buying the right insurance plan.
And, to begin with, they need to understand the type of two wheeler policies:
Liability-only insurance – As per motor vehicle act, it is mandatory to at least have liability-only insurance, also known as third party two-wheeler insurance policy. This policy covers only the damages caused to the third party and doesn’t compensate the vehicle or its owner.
Comprehensive insurance – Also known as own damage policy, this covers any damage sustained to the bike and/or the rider along with mandatory third party cover.
Legal coverage against third-party damage – No one wants to land into unwanted situation and thus, it is best to have a bike insurance to get covered against unwanted circumstances. For instance, if your bike bumps another vehicle, person, or their property, then an insurance policy protects you against financial as well as legal implications.
Covers medical expenses – If you opted for accidental rider, then you will also get covered against medical expenses caused while riding such as your bike skids or collides with other vehicle resulting in fatal injuries to you. Hence, at situations, an insurance policy pays for the hefty medical bills and saves you from financial stress.
Covers the pillion rider too – Though, the cover is optional, you can extend your policy coverage benefits if you generally move with a pillion rider. If opted, the pillion rider too gets covered under the policy benefits.
Road assistance – You don’t ride with a mechanic who can be readily available whenever and wherever your bike breaks down. Hence, the insurance companies have a huge garage network across the country in order to provide timely and hassle-free assistance at times of road-side emergencies. For instance, most of the garages have towing facility, so if in case, your vehicle breaks down, you can call for the road-side assistance and the representative will come and tow your vehicle to the nearest garage. This gives you a peace of mind.
Covers the repair cost of the vehicle – Cost of bike repair can land you into financial stress, but, you need not to worry if you have bike insurance because most of the insurance companies provide cashless repair facility across their network garages. This saves time and money of the policy holder.
In today’s world, customers are way smarter and know how to maximise the benefits and how to utilize them at the most. Hence, first compare and then choose the right bike insurance and explore the world fearlessly.
Reliability – The foremost thing to consider is whether the policy is reliable. It is significant to buy policy from a company that has a good market reputation in terms of settling claims.
Complaint ratio – This is another important factor to consider as the ratio gives clear idea about the overall service quality of an insurance company.
Premium – While comparing best two wheeler insurance policy, premium is probably the deciding factor. Often you may come across with different insurance policies at different premium costs, but, with similar coverage benefits. Hence, make sure you make the best decision by choosing a policy with lower premium cost and maximum coverage benefits.
Discounts – Generally, most insurance companies offer no-claim bonus discounts to its existing customers, in case no claim has been made in a subsequent year. Therefore, don’t forget to consider discount factor as well.