Like your bike is a reliable companion to commute on the busy streets every day, two-wheeler insurance is your bike’s ideal partner. Buying two-wheeler insurance secures you against the perils caused under any unforeseen event. Being financially equipped against any mishaps will also help you in keeping your peace of mind.
Although buying two-wheeler insurance is apart of your responsibility as a bike owner, it is a smart move too.
Image Courtesy: Shutterstock
Read some features of two-wheeler insurance that make it a smart choice for bike owners:
- Completes Legal Requirements
Purchasing a two-wheeler insurance policy is a legal requirement in India as per the Motor Vehicles Act, 1988. Hence, it is essential to keep the insurance cover active. Failing to renew the insurance cover will get you in trouble with the authorities, as riding a bike without an active policy is a punishable offense.
- Cover against Third-Party Liability
When you buy a two-wheeler insurance cover, you financially protect yourself against third-party liabilities. In a situation where a third-party person gets injured, or damage is caused to the third-party property, two-wheeler insurance is beneficial.
Sometimes, the cost of compensating the third party may be expensive and, in some cases, unaffordable. With two-wheeler insurance, your insurance provider will pay the compensation. Also, the legal liabilities that may arise due to the event will be taken care of by the insurance company itself.
- Cover for Your Own Damage
Many insurance companies provide comprehensive, two-wheeler insurance policies.
This policy covers the cost of repairing damages caused to your bike. It encompasses all kinds of damage caused to the bike due to vandalism, fire, man-made calamities, natural calamities, or theft.
If the chosen two-wheeler insurance policy provides coverage for personal accident, you will get content for the medical expenses incurred in case of an accident.
- Availability of Add-ons
Apart from the standard coverage, you can choose to enhance your two-wheeler insurance cover. All insurance providers offer different add-on covers. Before buying a policy, check the policy wordings carefully to check the add-ons provided.
Add-ons such as zero depreciation, engine protection cover, and others are a few that you can add to the existing insurance policy. With zero depreciation cover, you will get compensation for the cost incurred towards repair or replacement of certain parts of the bike. The engine protection covers all expenses that you incur towards the repair of a damaged engine.
- No Claim BonusDiscount
Buying a two-wheeler insurance policy has its own perks. You do not require paying the full amount of the premium each time you renew the policy. If you do not make any claim and enure safe driving, you will start receiving discounts on your plan. At the time of insurance policy renewal, the higher the no claim bonus, the lower your insurance premium will be.
Two-Wheeler Insurance: A Necessity Today
After reading the features mentioned above, you can determine that buying a two-wheeler insurance policy is a must. And, to make the buying process easier, insurance companies offer it online as well as offline.
Buying two-wheeler insurance online is simple and easy. However, due to online transactions, it might seem unsafe. But, with additional research, you will realize that it is a safe process of procuring two-wheeler insurance. Before you purchase a policy, you should research all the options available.You can opt for reliable brands like Tata AIG that offer a comprehensive two-wheeler insurance cover. You can know about buying bike insurance online from the website and its process by contacting their representatives. Their team of experts will help you understand the terms and conditions of the policy.
