Life as we all know is too uncertain. What may be our today may not be our tomorrow. Especially when it comes to riding a two-wheeler, we have to be careful to avoid any accidents or damages to a third-party. The young generation today are more enthusiastic to ride bikes and scooters be it to travel for their college or commute to work or to go for bike rides. Youngsters, be it male or female like riding bikes more than scooters. There are many youngsters who join various biking clubs and even take part in bike rides to enjoy the thrill of riding a two-wheeler.
The market is filled with a variety of two-wheelers, that are designed to suit various category of people. The two-wheelers are divided into segments like mopeds, entry level bikes, premium bikes, sport bikes, cruisers, super bikes, mid-range bikes, dirt bikes, commuters, etc. This differentiation helps youngsters to choose a two-wheeler that they like to ride according to their comfort.
If you too are a youngster who is looking to buy a two-wheeler, then make sure that you buy a two wheeler insurance that fulfills the requirement of your vehicle. In past few years, the number of two-wheeler accidents have increased steadily and in most cases the victims of accidents are young riders. It may be because of negligence in driving, violating traffic rules, not following safety measures, not wearing safety gear, improper vehicle maintenance of the vehicle, riding too fast, drunk driving, or sometimes sheer bad luck. A two wheeler insurance policy will provide financial protection for most of the mentioned incidents and save you from spending money on repairs personally.
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A comprehensive two wheeler insurance policy is the ideal policy that you should opt for your two-wheeler. A comprehensive two wheeler insurance policy provides protection against the damages caused to the vehicle due to third-party liability, accidents, vehicle damage, theft, total loss or damage of the vehicle, riots, burglary, fire, storm, civil protests, etc. If you do not make a claim for your two wheeler insurance plan during a policy year, the insurer will offer you a no-claim bonus. This bonus can be availed as a discount at the time of renewing the policy. The NCB discount can be availed from minimum of 20% to maximum of 50% and it is valid up to five years. The NCB can be carried forward up to 5 years and in case you wish to change the insurer, the NCB can also be transferred to the new insurer.
There are few optional add-on covers available as an upgrade on comprehensive two wheeler insurance policy, which can be purchased at an additional premium. These add-on covers enhance your coverage capacity under some exceptional situations which is otherwise not possible in a comprehensive policy. Mentioned below are the add-on covers for two-wheelers:
Each of the above mentioned optional cover provides coverage for specific events. For example, if you purchase zero-depreciation cover, the depreciation value of the vehicle at the time of claim will not be calculated at the time of claim settlement. The claim settlement amount will be paid to you excluding depreciation. Likewise, each optional cover comes with it’s own set of benefits, which can be utilised as per the requirement.
The third-party cover is a mandatory requirement by the law for all two-wheelers according to the Motor Vehicles Act of 1988. A third-party insurance policy covers only the damages caused to a third-party person or property by the insured vehicle. If any damages are occurs to the third-party, the insurance company will bear expenses of repair or hospitalisation on the behalf of policyholder.
Youngsters especially teenagers who have proper driving license can sometimes be naïve and ride the vehicle while intoxicated with drugs or alcohol. Please note that any damages caused due to such events are excluded from a two wheeler insurance policy. two wheeler insurance policies also have some exclusions like driving without a valid insurance, damages caused to the vehicle outside India, riding without helmet and damages caused due to nuclear war are not covered under the policy. So drive responsibly, because speed and violations are not thrilling always.
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