In India, the preferred mode of transportation for many is two-wheelers owing to their affordability, speed and mileage. Under the Motor Vehicles Act, 1988, it is mandatory to have at least a third-party liability policy for any two-wheeler. In light of the number of vehicles on Indian roads, the government introduced this rule to ensure that at least third-party expenses were covered in case of accidents. There are a number of insurance providers offering adequate coverage at affordable premiums in Bhopal.
Choosing the best insurance policy for your bike in Bhopal can leave you confused because of the many options available in the market. The best policy is relative to your requirements, the coverage you want and the premium you are willing to pay. Some of the popular insurance companies in Bhopal that offer motor insurance for two-wheelers have been listed below.
*Insurance companies have been listed in no particular order.
In order to reduce the hassle involved with processing claims for two-wheeler insurance, companies sometimes partner with garages all across the country. If a policyholder chooses to repair his vehicle at these network garages, then they are entitled to cashless claims. Under this method, when it comes to paperwork submission and bill settlement, the insurer will deal directly with the garage. To locate a cashless garage in Bhopal, insurance providers provide the following options:
The most important benefit of cashless garages is that the paperwork is handled by the garage and the bill is settled directly by the insurer. The customer has a very small role to play in this process therefore reducing the time taken and the hassle involved. Apart from this, customers can benefit from a number of other features of cashless garages in Bhopal.
Eliminates Branch Visits - The customer is not required to visit a branch to collect the reimbursement. The customer can contact the insurance company through the customer care. Once the claim is approved, the garage and the insurer will handle the rest between themselves.
Less expenses for the customer - Once the claim has been approved, the insurer will pay what is due to the garage. The customer will be required to pay only what the insurance plan does not cover. This will be a significantly lower amount compared to the entire bill.
Fast approvals and settlement - Since the garage and the insurer are partnered together, they will already have information required about each other and easier contact channels. The settlement process is usually much faster through this method.
With so many options in the market, finding a suitable two-wheeler insurance plan can be a difficult task. There are a few important things to bear in mind while purchasing an insurance policy for your bike.
If you have chosen to sell your vehicle, then there is a certain procedure to follow to ensure you have no connections to the vehicle if future liabilities were to arise.
To transfer the name of the vehicle to the new owner, you need to visit the Regional Transport Authority (RTO). You need to inform them of the sale of the vehicle and apply for a No Objection Certificate (NOC).
You can also transfer the insurance policy by changing the name to the new owner. If the new owner fulfills the eligibility criteria of the insurance plan, the company will transfer the name. To do so, you can follow the steps given below:
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