A two-wheeler is considered the most low maintenance vehicle. This makes it a sought-after option for many Indians. Moreover, it is a practical solution to swift past heavy traffic and trudging on unruly roads. However, it is not immune to damages and threats. Hence, secure it with a General Insurance Policy. The Motor Vehicles Act mandates this to encourage road safety. But most people treat it as an obligation and buy the first policy they find.
This overrides the motive behind getting insured. A Bike Insurance is designed to protect your vehicle and fulfil third-party liability. This lets you get through financial emergencies during accidents, theft, loss and other mishaps. The internet makes obtaining it easier through the insurers’ websites. Most people use this to find the best coverage, benefits, and inclusions. But Insurance goes beyond these factors. Here are some facts to know:
Have you ever wondered why the coverage differs for policyholders despite paying an equal premium? This is because a Two Wheeler Insurance is customisable. Insurers look into your bike’s model, engine capacity, geographical location, manufacturing year, etc. This helps them determine the premium amount and insured sum. They also address your coverage needs by offering riders a Comprehensive Plan. Using them lets you personalise the inclusions.
Despite being the most helpful provision, first-time Insurance buyers lack knowledge about the cashless claim facility. This makes them lose out on the convenience of getting compensated. While raising claims, you typically pay the repair bills and get reimbursed later. A 2-Wheeler Insurance with cashless settlement eliminates the hassle. It is where the insurers partner with garages to settle your claims directly.
Filing a First Information Report or FIR is imperative when meeting with an accident. As the police investigate the damages, you become legally liable. Moreover, things get complicated if a third party is involved. You can ease these worries by buying an online Bike Insurance. It provides legal assistance and compensates for damages. This way, you face no legal repercussions when you are not at fault.
No Claim Bonus
Being insured does not mean you have to raise a claim. You must use it wisely and focus on responsible driving. Doing so is not only safe but also gets you rewards. One of them is a no claim bonus. Insurers offer it for completing the Insurance term without raising claims. Typically, it discounts up to 20% on the premium amount. However, it extends up to 50% when you complete five consecutive claim-free years.
Insurance companies have evolved due to their online presence. You no longer have to rely on Insurance agents to guide you through the buying process. The official websites provide detailed information to buy online 2-Wheeler Insurance without hiccups. This lets you take controlled decisions without interference. Also, the process gets completed quickly with minimal paperwork from anywhere at any time.
When you opt for a Liability-Only Policy, the base coverage comes at a standard cost. You may choose to extend it for extensive benefits. Most buyers assume this is expensive. But you get to regulate the expenses by choosing the coverage wisely. Also, compare offers to find an affordable policy. The key is to analyse the policy to match your budget.
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