Facts About Two-Wheeler Insurance You Should Know
Published On Oct 24, 2020 8:00 AM By InsuranceDekho
It is important for you as a customer to make an informed choice while buying two-wheeler insurance.
If you’re looking to buy an insurance policy for your two-wheeler or even have one already which you plan to renew soon, you must check this two-wheeler insurance you wish you knew before. With the availability of a wide array of two-wheeler insurance policies online, it is important for you as a customer to make an informed choice.
5 Facts About Two-Wheeler Insurance You Wish You Knew
Following are 5 facts about two-wheeler insurance plans which are worth making a note of:
1. It is Wiser To Opt For Wider Coverage
Having a third-party bike insurance cover is mandatory according to the Indian Motor Tariff for all two-wheelers. However, it is a wise decision to buy a standalone own-damage cover alongside the third party insurance policy or buy a comprehensive cover that takes care of both. A wider coverage can save you a lot of money and anxiety in case of a mishap by taking care of both third party liabilities and own-damages incurred by your two-wheeler in case of an unforeseen event.
2. Add-ons Are Worth The Premium
While buying an insurance policy people often look over or avoid paying for add-on covers, however, these add-ons are worth the premium. Two-wheeler insurance add-ons provide additional protection for crucial damages in case of mishaps that are otherwise not compensated under a standard policy. Some popular and most selling two-wheeler add-ons include Zero Depreciation cover, Roadside Assistance cover, Engine cover, Tyre cover, etc.
3. It is Good To Be Selective About Add-ons
Bike insurance companies offer a variety of add-ons with standalone own-damage and comprehensive two-wheeler insurance plans. However, this does not mean that it is essential for you to purchase all or most of them. Be careful to make your choice based on your requirements and budget.
4. It is Always Beneficial To Compare Policies
There are a number of insurance plans offered by a number of insurance companies. Thus, it becomes imperative for you to compare the available policies on the basis of coverage, claim settlement ratio of the insurance companies, strength of their network garages, bike insurance add-ons, etc. You can easily and instantly compare the available policies at InsuranceDekho and choose the plan which best suits your requirements.
5. Try To Get No Claim Bonus (NCB)
No Claim Bonus (NCB) is the reward that your insurance company provides to you when you do not make even a single claim during the policy period. NCB is a cumulative bonus and can go up to 50% of the own-damage premium depending upon the number of claim-free years. To make sure you can avail this bonus you need to act diligently and renew your insurance policy in time.
Types of Bike Insurance You Should Know:
Third Party Two Wheeler Insurance
Comprehensive Two Wheeler Insurance Policy
You May Also Like To Read:
Own Damage Two Wheeler Insurance
Bike Insurance Details by Registration Number
Fine for Driving Two Wheeler Without Insurance
How to Get Duplicate Two Wheeler Insurance Copy Online
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.