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Sales of two-wheelers in Patna have skyrocketed over the past few years. Keeping in mind the number of vehicles on the roads in India, the Government of India introduced a rule under the Motor Vehicles Act, 1988, directing all vehicle owners to have at least a third-party insurance policy. There are a number of insurance providers in India that offer two-wheeler insurance policies in Patna.
With a plethora of options available from different insurers, it can be hard choosing your ideal insurance provider. The best two-wheeler insurance policy in Patna is relative to your requirements, the coverage you want and the premium you are willing to pay. Some of the popular insurance companies in Patna that offer motor insurance for two-wheelers have been listed below.
*Insurance companies have been listed in no particular order.
Cashless networks help reduce the hassle involved with processing claims for two-wheeler insurance. If a policyholder chooses to repair his vehicle at these network garages, then the insurance company and garage deal directly with each other. There is minimal involvement required from the customer. The paperwork submission is handled by the garage and the bill settlement is taken care of by the insurer. To locate a cashless garage in Patna, insurance providers provide the following options:
When you opt to use the services of a cashless garage, the most important benefit is that the paperwork is handled by the garage. Apart from this, the bill is settled directly by the insurer reducing the financial burden on you. There are a number of other benefits associated with cashless network garages.
Out-of-pocket costs - When you choose cashless settlements, the insurance company settles the bill. You will not be required to pay the money upfront and collect it later from your insurance provider. You only need to pay for what is not covered by your policy.
Branch Visits are not Required - With reimbursement claims, the customer is required to visit the branch or meet the agent, submit documents and collect a reimbursement. With cashless claims, 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.
Fast approvals and settlement - Getting approvals on cashless claims are usually done within 24 to 48 hours. When the bike is ready, the settlement of the bill is handled between the insurance provider and the garage. The customer is not required to collect and submit documentation and wait for a reimbursement.
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.
There are certain legal procedures that must be fulfilled when you sell your bike. To make sure that in the future you will not be connected to any liabilities that may arise, you need to transfer the ownership name of the vehicle to the new owner. You can do this paying a visit to the Regional Transport Authority (RTO). Inform them of the sale of the vehicle and request to transfer the name. You can then apply for a No Objection Certificate (NOC). They will make the transfer.
When it comes to your insurance policy, you can also transfer this, too, by changing the name to the new owner. As long as the new owner fulfills the eligibility criteria of the insurance plan, the insurance company will have no objections. To complete the insurance transfer, you can follow the steps below:
Transferring insurance policies ensures that you retain your NCB, while reducing the hassle of closing the policy. It could also helps fetch a better second-hand price on the vehicle.
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