Two-wheeler insurance is a type of policy that is designed to protect and provide coverage for two-wheelers. This policy covers all the repair costs if your bike is damaged in an accident.
Furthermore, it provides financial protection against incidents such as thefts, natural disasters, vandalism, etc. Read on to know more about how to renew two wheeler insurance at low prices online in India.
Why Do You Need A Two-Wheeler Insurance Policy?
Mandatory as per law
In India, it is illegal to ride a two-wheeler without valid two-wheeler insurance. If you do so, you may be penalized or even imprisoned.
According to the Motor Vehicles Act, every motor vehicle owner must have at least third-party bike insurance. This policy covers only third-party liability, not damages/losses to your two-wheeler.
Provides financial coverage
Today, it is common to see chaotic roads with vehicles moving in all directions. So, there is a high risk of accidents resulting in vehicle damage and deaths.
You may suffer financial losses as a result of such incidents. If you have purchased two-wheeler insurance, then the insurance company will take care of the majority of repairs (if you have purchased the PA coverage) and also provide medical treatment.
Third-party liability cover
Third-party liability coverage protects you from financial and legal liabilities associated with accidents involving third parties, their vehicles/property, injuries, or deaths.
Protection against natural disasters
There are some things that we can control easily, like how we drive our vehicles on the road, but natural disasters are beyond our control. So, there is a possibility that they will cause significant damage to your two-wheeler.
For instance, flooding can cause irreparable damage to your bike’s components. In such situations, a Comprehensive Bike Insurance Plan covers damage to the vehicle.
Theft (or) loss coverage
Two-wheeler theft is one of the worst nightmares for you, right? In such situations, you are unsure whether you can track the missing vehicle or not.
If the authorities are not able to find your vehicle, you are at risk of significant financial loss.
When you purchase insurance for bikes/scooters (Comprehensive Two-Wheeler Insurance Policy), even if your stolen bike/scooter is not found, you will be compensated.
Personal Accident Cover
The chances of being injured in an accident are very high, so only having insurance coverage for your two-wheeler is not sufficient. This is the reason why the PA cover is mandatory in India.
This policy covers you against permanent disability or death caused while riding a motorcycle or scooter.
However, it should be noted that this PA cover is not included in the motorcycle policy. You will have to buy it separately while purchasing bike insurance.
Factors to buy/renew two wheeler insurance at low prices online in India
When it comes to buying two wheeler insurance, it is important to do thorough research.
Also, it is crucial to evaluate your requirements and compare several two-wheeler insurance plans online to find the most suitable two-wheeler insurance policy.
Listed below are some tips that will help you choose the right two-wheeler insurance policy for your needs and budget:
Understand Your Coverage Requirements
First, identify your needs and budget so that you can choose the best insurance policy. For that, a variety of factors must be taken into account when assessing your requirements, such as how you use your two-wheeler, how much you spend, and how much liability you have.
Select Add-on Wisely
The addition of an add-on to your two-wheeler insurance policy enhances its coverage. However, adding an add-on cover to your insurance policy will cost you an additional premium.
The most common add-ons in two-wheeler insurance are zero depreciation cover, personal accident cover for pillion riders, and towing coverage.
Select a Reliable Insurance Provider
When choosing an online two-wheeler insurance company, it is crucial to check the claim settlement ratio. This makes the claim settlement process hassle-free.
Compare two-wheeler Insurance Plans Online
To make the best decision, it is important to compare different two-wheeler insurance policies online. There are many ways to compare different plans, including exclusions, inclusions, premiums, and more.
Read Online Reviews
Online reviews from verified customers who have bought two-wheeler insurance policies can help you choose the best insurance policy for you.
However, read both positive and negative comments online to make the right decision.
Benefits of buy/renew two wheeler insurance at a low price online in India
Compare and buy
Comparison is one of the most significant advantages of shopping for two-wheeler insurance online.
When comparing bike insurance policies, you can make an informed decision based on each policy’s merits and demerits. And, the process of buying two-wheeler insurance includes researching, comparing, evaluating, and buying.
Pay less, get more
Online purchase of a two-wheeler policy eliminates the middleman. Besides, a low operational cost also reduces the price of bike insurance. That’s why the digital-first insurer can offer low-cost two-wheeler insurance.
You don’t have to deal with tedious paperwork when you purchase bike insurance online.
You can easily purchase two-wheeler insurance by entering a few details about the vehicle and previous policy, selecting a plan, paying the premium online, and receiving the policy instantly.
When you purchase two-wheeler insurance online, you will save time and money.
It is simple and convenient to purchase insurance for bikes/scooters online without traveling to the insurer’s office.
Also, you can access insurance-related information, get assistance, and buy two wheeler insurance at your convenience with just a few clicks.