Why Should You Purchase a Good 2 Wheeler Insurance Plan?

2 Wheeler Insurance

Why Should You Purchase a Good 2 Wheeler Insurance Plan?

Two-wheeler is the basic mode of transportation for millions of people across the nation. In India, affordability is not the only issue as even the people who can afford the cars prefer to travel on motorbikes to avoid getting stuck in the snarling traffic.

There is no second thought that two wheelers come cheaper than four wheelers, with better mileage, savings on fuel, flexibility to travel and beyond that the happiness of those joy rides anytime and anywhere. So you cannot afford to lose it for silly reasons and the owner gets penalized for it.

To keep your vehicle safe from unnecessary problems, nature’s fury, manmade damages etc. it is better to buy a suitable 2 wheeler insurance policy.

By acquiring an insurance policy, one can get the compensations for natural calamity or other reasons including, accident, fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide.

Bike insurance offers you risk coverage towards self-physical injury, damage/loss of the vehicle and third party liability.

Here are few reasons to own a suitable bike cover: It offers a financial cover against damage or loss during natural calamities like flood, earthquake, tornado, etc. or during manmade riots or burglary incidences.

The third party cover protects you against issues arising out of injury/death or property damage of third party vehicle.

Premium Premium is money paid at regular intervals usually yearly towards the coverage of policy. It depends on various factors like city of registration, vehicle make and model, age of vehicle, date of purchase, etc. IT is decided and regulated by IRDAI and there is not much variation across various companies.

Cover This is the financial protection value provided to your bike against damage or loss due to natural or man-made calamity along with third party liability. It differs from company-tocompany and policy-to-policy.

Exclusion These are situation being not entitle to file a claim. Normal wear and tear, damage due to drink and drive, accident without owning proper license, or due to war or nuclear explosions etc. will not be included in your vehicle policy.

No Claim Bonus These are those reward points that you get for not claiming the 2 wheeler insurance policy in preceding years.

Documentation Whenever there is a claim on your policy you need to have set of documents required for making claim like vehicle registration copy, photocopy of insurance and FIR, seismic report if earthquake, or weather reports if natural disaster etc.

So, you should keep the necessary document handy and get scanned copy of reports beforehand for hassle free claims.

Choose your policy wisely making sure it suits your needs the best.

[Source: https://bikeinsuranceblog.wordpress.com/2016/05/20/why-should-you-p ]

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