In 2015, 1,340 accidents were recorded in visakhapatnam, out of which 350 were fatal. 41% of these accidents involved two-wheelers. The alarming number of accidents in just one city highlights the importance of having insurance on your vehicle and on your life. Under the Motor Vehicles Act, 1988, it is mandatory to have at least a third-party liability policy for any two-wheeler. To ensure that at least third-party expenses were covered in case of accidents, the government introduced this rule as the Indian roads started to bear more traffic. There are a number of insurance providers offering adequate coverage at affordable premiums in Visakhapatnam.
The best two-wheeler insurance policy in Visakhapatnam is relative to your requirements, the coverage you want and the premium you are willing to pay. With a plethora of options available from different insurers, it can be hard choosing your ideal insurance provider. Some of the popular insurance companies in Visakhapatnam that offer motor insurance for two-wheelers have been listed below.
*Insurance companies have been listed in no particular order.
Insurance providers tie up with garages across the country in order to reduce the hassle involved with processing claims for two-wheeler insurance. If a policyholder chooses to repair his vehicle at these network garages, then they can make cashless claims. Using this method, insurance companies and garages deal directly with each other with minimal invovlement 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 Visakhapatnam, 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. 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 Visakhapatnam.
Fast approvals and settlement - Getting approvals on cashless claims are usually done within 24 to 48 hours. 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.
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.
Out-of-pocket costs - The customer will be required to pay only what the insurance plan does not cover. Once the claim has been approved, the insurer will pay what is due to the garage.
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.
When you sell your bike, you need to adhere to a certain procedure to make sure that in the future, you will not be connected to any liabilities that may arise. To do so, you need to transfer the ownership name of the vehicle to the new owner. You need to visit the Regional Transport Authority (RTO) and inform them of the sale of the vehicle. You can then apply for a No Objection Certificate (NOC). They will make the transfer.
In addition to this, you can also transfer the insurance policy by changing the name to the new owner. This can be done provided the new owner fulfills the eligibility criteria of the insurance plan. To complete the insurance transfer, you can follow the steps below:
Transferring insurance policies reduces the hassle for the new owner, eliminates the need to close your policy, plus you get to retain your no-claim bonus.
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