Essentials of Two-Wheeler Insurance Policy

 Sachin Sharma
  May 25, 2018

Vehicles play a vital role in the day to day life of a person. Most of the people use motorcycles, cars and scooters for travelling and transportation purposes. Owing to the heavy traffic congestion in the cities and rising fuel prices, a number of people choose to invest in two-wheeler vehicles such as motorcycles and scooters, as opposed to cars. Two –wheelers consume much less fuel in comparison to four wheelers such as cars and trucks, which makes them a more economical mode of transportation. Moreover, they are less prone to daily wear and tear and thus their maintenance expenses are not too high. One of the other prime advantages of owning a two-wheeler is that due to their size they are much easier to maneuver in congested Indian roads and narrow lanes in comparison to cars. However, due to the nature of their make, two-wheelers are much more prone to accidents as compared to four-wheelers. Owing to the deteriorating road conditions in many cities, increase in traffic congestion and the urgency to reach the destination as fast as possible, the cases of road accidents have witnessed a significant rise in the last few years. While two-wheelers are the most convenient mode of transportation today, they also face a number of adversaries on the road due to the contemporary traffic conditions.

Due to the rising expenses and high congestion in the cities, a lot of people are opting to invest in two-wheelers over cars. They are an economical mode of transportation as they consume much lesser fuel as compared to cars. However, due to the contemporary road conditions, two-wheelers face a high risk of suffering from accidents and other mishaps. Due to this reason it is imperative for a two-wheeler owner to invest in a scooter or bike insurance policy. This guest post underlines the essential elements of this policy.

In order to safeguard yourself from the monetary expenses associated with the risks of accidents, mishaps and theft that may be suffered by your two-wheeler, in my opinion it is imperative that you invest in a scooter or bike insurance policy. Having an active bike insurance policy at all times is obligatory for two-wheeler owners in India. You can easily purchase bike insurance policy online from an insurance service provider that follows the guidelines of the Insurance Regulatory and Development Authority of India (IRDAI).

A comprehensive two-wheeler insurance policy provides coverage for the following items:

  1. Damages suffered by the two-wheeler due to an accident or mishap
  2. Third part liabilities covering the death of a person or any injuries suffered by him or her. Any damage done to their property or assets are also covered under the insurance plan
  3. Personal accident cover to the owner or the driver, both in case of injury or death
  4. Damage suffered by the vehicle due to certain natural and manmade causes. Such as:
  1. Explosion, fire, lighting and self-ignition
    1. Riot or a strike
    2. Typhoon, cyclone, hurricane, flood, earthquake and storm
    3. Burglary or vandalism

By paying a nominal extra premium you can also avail the coverage for the following items:

  1. Damages suffered by the both non-electrical and electrical parts of the two-wheeler
  1. Personal accident cover to any other passenger other than the driver

As you choose to buy a scooter or bike insurance policy online, you get to make a choice between two variants of insurance policies. They are:

  1. Two wheeler package policy: This policy provides an extensive yearlong coverage to the insured. Reputed insurance companies offer the benefit of cashless claim service and insurance claim related support services along with this package.
  2. Multi-year Two Wheeler Package Policy: The tenure of this policy can be of two to three years, and thus you can let go of the worries of remembering the policy renewal deadlines after investing in this policy. In this policy you can also get additional NCB benefits in case no claim is made.

However, due to the contemporary road conditions, two-wheelers face a high risk of suffering from accidents and other mishaps. Due to this reason it is imperative for a two-wheeler owner to invest in a scooter or bike insurance policy.

You can take a look at the websites of the renowned insurance companies of the country and invest in a comprehensive and affordable scooter or bike insurance policy online from there. Ensure that the insurance company has tie-ups with a number of reputed hospitals and garages across the country, so that you can avail swift insurance benefits in the times of need.

Essentials of Two-Wheeler Insurance Policy

Sachin Sharma

Sachin is an insurance agent who likes writing about various insurances and how it helps customer fetch protection. He has written few blogs about insurance.

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