How IFFCO Tokio Insurance Helps You Protect Your Two-Wheeler?
Buying insurance for your two-wheeler is important if you want to ride on roads legally. Read this article to know how IFFCO Tokio Insurance helps you protect your two-wheeler.
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Two-wheeler insurance protects you from the financial consequences of accidents or any other unforeseen occurrences that can cause damage to your bike. With bike insurance coverage, you can be certain that your vehicle will be returned to its former state. You can accidentally hurt or damage someone else's property in the event of an accident. Fortunately, your bike insurance coverage will cover your legal responsibility to pay for third-party damages.
How IFFCO Tokio Insurance Helps You Protect Your Two-Wheeler?
Types of two-wheeler insurance provided by IFFCO Tokio Insurance:
1. Third-party Insurance -This is the most basic coverage, as required by law, and it protects you against any damage or loss to third parties as a result of an accident involving the insured vehicle.
2. Comprehensive Insurance - It covers against third-party loss and damage, as well as damage or loss to the covered vehicle and personal accident coverage for the rider. It is generally preferable to purchase comprehensive two-wheeler insurance since it gives all-inclusive coverage.
3. Long-term Two-wheeler Insurance- You can choose between one-year insurance that covers you for a year or a multi-year policy that covers you for up to three years. Long-term insurance is a sensible approach to avoid the headaches of insurance renewal while simultaneously receiving a variety of advantages.
Popular Add-ons To Choose
1. Zero Depreciation Cover- In most circumstances, the depreciation value is taken into account when filing a claim. However, if your two-wheeler is damaged, you will be able to collect the entire value for repairs if you have a zero depreciation policy.
2. No Claim Bonus- You can purchase a No Claim Bonus protection plan, which gives you a 20% discount on your premium after a year if you don't make a claim. The No Claim Bonus discount will increase each year, reaching a maximum of 50% after five years.
3. Return To Invoice- This add-on protection helps you obtain the original invoice price of your two-wheeler, including road tax and registration expenses if your two-wheeler is judged a total loss.
Advantages of Purchasing a Two-Wheeler Insurance Coverage from IFFCO Tokio Insurance
1. You will be financially protected if your bike is destroyed due to a natural or man-made disaster if you have two-wheeler insurance coverage. This will save you money on expenditures that you would have had to pay out of pocket otherwise.
2. Riding your bike on Indian roads without valid bike insurance coverage might result in costly punishment. You may simply prevent this unneeded headache if you have two-wheeler insurance coverage in place.
3. According to the Motor Vehicle Act, having at least basic third-party insurance coverage is required. Riding a two-wheeler on Indian highways is forbidden without this policy. As a result, you have nothing to worry about if you have a two-wheeler policy.
4. You can also choose for more extensive coverage by purchasing a bike insurance policy. You may also add features like roadside assistance, zero-depreciation, no-claim incentive, and engine protection insurance to these plans.
Take Away
You should be aware that obtaining two-wheeler insurance is a legal requirement. To operate your car in India, you must have at least third-party insurance coverage, according to the Motor Vehicles Act of 1988. As a result, you must obtain and maintain bike insurance coverage at all times.
Also Read:
5 Bikes/Scooters expected to launch in 2021 in India
Is Two-Wheeler Insurance Compulsory For Electric Scooters?
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.
