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Understanding Two Wheeler Insurance Policy With any type of motor vehicle, life is too risky. Traffic hazards, pollution, congestions, bad roads and what not! Over that if one talks of two wheeler, the less said the better. Being cheap and less fuelconsuming, its easy affordability is a good lure to buy. In the hands of youngsters, it comes handy for zig-zag and rash driving. Amidst traffic red lights, its serpentine driving and noise-pollution are nerves breaking. It is not to discourage the people not to go in for a two wheeler. After all there may be only a few who my feel advised to always use helmets and follow other traffic rules to make the two wheeler rather boon, being monetarily and fuel-wise very cost-effective and easy to drive rough surfaces and congested roads. Now the question arises as to which type of insurance one should buy. If you buy a full comprehensive two wheeler insurance, you are a genius. Depending on the facilities and incentive offered to you, you can buy insurance from private sector or government sector companies because all insurance companies are today regulated by same Government rules and regulations. Thus financial security is equally assured with the private companies. In government sector you depend to settle claims through Third Party Administrator (TPA). He plays as intermediary and thereby there are chances of typical delays in services. In private company, you deal directly with the company and hence you are likely to get efficient and satisfactory services to settle your claims. ONLINE INSURANCE COVER Buying online insurance cover is always a good. Being in the luxuries of your house, you call for online quotes from some reputed insurance companies. You find innumerable attractive options and incentive as variants in quotes of different companies. You may find the quotes free , cashless facilities, No Claim Bonus (NCB)between 50-60%, 24&7 roadside personal assistance etc. Thus, study the online quotes from the various companies with an angle of your specifications and choose the option best suitable to you. INSURANCE RENEWAL – A CRUICIAL FACTOR Never make the mistake of delaying renewal of the insurance policy. The only mistake of non-renewal in time will just deprive you all the benefits of the policy. Just to count a few major losses due to nonrenewal of policy: a)

You lose third-party insurance cover on accidental death of the third party, which can run to lakhs or even tens of lakhs of rupees. Whereas third-party unlimited cover is full liability of the insurer, but due to non-renewal of the policy in time it becomes your liability.


Your lose compensation for self and third-party in case of accidental injuries and thus face a heavy financial burden to defray expenses on self and offering compensation to the thirdparty, the most of which would have been the liability of the insurer had you paid the premium in time.


Likewise you will have to bear all expenses towards your two wheeler’s damages, theft, loss etc. if the policy is not renewed in time.

BIKE INSURANCE COMPANIES A couple of reputed insurance companies specifying somewhere the facility they grant are quoted below: (1) Reliance General (2) ICICI Bike Insurance

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Understanding two wheeler insurance policy  
Understanding two wheeler insurance policy  

Now the question arises as to which type of insurance one should buy. If you buy a full comprehensive two wheeler insurance, you are a geniu...