Considering the number of accidents that are increasing every day, two wheeler insurance has become a necessity. A two wheeler insurance is a mandatory document every bike owner should own according to the law under The Motor Vehicles Act, 1988. Every bike/scooter owner must take few precautionary measures while driving, like following the traffic rules, waiting at the signals, etc. so that accidents or damage to the vehicle can be avoided. But even then, few unfortunate incidents cannot be avoided.
In times like these, a two wheeler insurance is your savior. A two wheeler insurance not only provides protection for the bike, but it also protects the owner of the bike. A two wheeler insurance provides complete cover against theft, burglary, third-party liability, accidents, own damage, floods, storms, terrorist attacks, riots, etc. One should never buy a two wheeler insurance just because it is statutory necessity, but it always important to know why it is important and what sort of help it can be at unfortunate times.
A comprehensive policy is also known as the own damage cover. This type of policy provides a complete protection to the owner and the bike/scooter. A number of situation like theft, third-party damage, own damage, accident, civil protests, riots, burglary, floods, storms, volcano eruptions, etc. are all covered under the policy. Due to its coverage capacity, the premium for this policy is higher. The premium for this policy is fixed according to the cubic capacity of the vehicle. Along with the cubic capacity there a number of factors that affect the premium like the IDV, age of the vehicle, make and model, depreciation, no-claim bonus, city of residence, age of the owner, etc. All these factors will be considered while calculating the premium amount. The comprehensive policy can be brought for either annual term or long-term (2 or 3 years). Do note that the perks for long-term policy is higher than the annual policy. There are few add-on optional covers available under this policy and they are as follows:
A third-party insurance is also known as the liability only insurance cover. This provides insurance protection for the bodily injuries and property damage occurred to the third-party by the insured vehicle. If any accident or damage occurs to the third-party, all the legal expenses, hospital expenses, repairs, etc. will be taken care by the insurance company. This is the minimum requirement cover every bike owner should own.
Purchasing insurance online is the most easiest and convenient way to purchase insurance. Purchasing insurance open a world of options from which you can buy from. There are ‘n’ number of insurers and many third-party websites from where you can buy from. You can go to either insurer’s website or the third-party website to purchase a two wheeler insurance. Here are the steps you need to follow:
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