Two Wheeler Insurance
Buying a comprehensive two wheeler insurance policy is crucial for all two-wheeler owners. The insurance is meant for keeping the vehicle and owner secure against various damages caused by natural and man-made calamities, including acts of terrorism. If you own a two wheeler, buying this policy will help you keep from the impact of damages incurred due to personal accident, theft, third party liability and a lot more. It is important to keep your two-wheeler secure and the best way to do this is to buy an insurance plan.
In case, you don’t have an idea of how to get the best two wheeler insurance policy, here are some tips to help you:
For motorbikes, you can choose from a variety of these available on the market, these days. This is possible if you keep certain factors in mind:
Why do you want to buy the insurance plan? What are your requirements? First, you need to prepare a list of your insurance requirements. Jot down all the benefits that you wish to enjoy via buying this plan.
Type of vehicle
This is definitely something that will determine your decision and that of insurance company’s when approving loan for you. It will also influence the premium amount charged by the company.
How do you drive?
Have you ever been caught drunk and driving? Did you ever get tickets for accidents or rash driving? These incidents will influence your two wheeler insurance premium. Additionally, if you have joined a bike riding school, the insurance company will consider you as a safe driver and offer less premium amount.
Do you actually wish to have all of the cover facilities offered by insurance company? You need to be extremely careful about what you pay for. The idea is to pay for what is necessary as the part of insurance for you.
Time of the year
Most people feel that two wheeler insurance policy rates are reduced during winter months. This is because bike riders find it difficult to ride on bikes amidst the chilly wind and bad weather conditions. Additionally, most of the bikes rest in the garage during this period of time. However, this is not true. The time of the year do not have much influence on premiums you pay. So it is not wise to delay your insurance buying and wait for winters to hit.
Additional Security is not Important
Having a two wheeler insurance policy does not mean immunity from accidents, various unforeseen situations, and their impact. You can still get hurt or damage your bike. An insurance plan will support you financially under such situations. It won’t save you fromgetting hurt in an accident. Hence, it is crucial to drive safely, wear a helmet and take extra care for your personal security.
Make sure you know what is covered in your two wheeler insurance policy before investing on one. The basic cover features for such plans include:
Loss or Damage to your Vehicle against Natural Calamities:
Loss or Damage to your Vehicle against Man-made Calamities:
Personal Accident Cover Coverage
- Malicious act
- Accident by external means
- Terrorist activity
- Damage in transit by road
- Inland waterway
The cover is offered under situations where the individual owner or driver of the vehicle mounts or dismounts from the two wheeler while driving or travelling. You can also get optional personal accident covers for co-passengers.
Third Party Legal Liability Protection
This is one of the most important cover facilities available for bike riders. The cover is available against legal liability due to accidental damages resulting in the permanent injury, death of a person, and damage caused to the surrounding property. It is crucial to understand the details of this cover via referring to the policy documents and reading the terms and conditions carefully.
Exclusions for Two Wheeler Insurance Policy
- Normal wear and tear
- General ageing of the vehicle
- Consequential loss
- Mechanical breakdown
- Electrical breakdown
- Damage to tyres and tubes (unless the vehicle is damaged)
- Vehicles being used otherwise than in accordance with limitations as to use
- Damage to/ by a person driving any vehicles or cars without a valid license
- Damage to/ by a person driving the vehicle under the influence of drugs or liquor
- Loss/ damage due to war, mutiny or nuclear risk
Most modern day insurance sellers focus on selling policy that will take care of their own profits than a plan that will help their clients in distress. Hence, it is important to buy a plan after comparing a number of plans and companies offering the plans. This is important to make sure you know what is offered by various companies and the premium plans.
Never under estimate the importance of insurance quotes. Collect as many two wheeler insurance policy quotes as you can from different companies and compare these. Keep in mind your specific insurance requirements and budget when comparing quotes. Choose a plan that ideally fits into your requirements. Also understand the claim procedure about the company prior to making a decision. You will also come to know about markdowns on premium and extra features presented by a specific company.
To sum up, buying two wheeler insurance policy is an obligation for every owner/driver. This will keep you and your vehicle safe from various unforeseen situations. With most reputed companies offering these plans online, buying insurance has become easy. These plans can be bought from convenience of your home whenever you want. This is a wonderful way because it works towards saving good amount of time and efforts on your part.