Why Is Comprehensive Two-Wheeler Insurance the Best?
Updated On Jul 23, 2021
Wondering which insurance plan to buy? This article will tell you everything you need to know.
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Using a two-wheeler is the most common and affordable way to use private transport. Moreover, with the agility the two-wheeler offers to maneuver through the congested and traffic laden streets in most Indian towns and cities, it is no wonder that two-wheelers are so common here. However, we all know that using a two-wheeler on a regular basis comes with several risks and uncertainties. This can be a source of anxiety for both you and your family. The only way to prepare for such possible risks is by purchasing insurance. Insurance will give both you and your two-wheeler a layer of protection in case of a mishap by offering compensation for the damage. There are three basic types of insurance offered for two-wheelers in India. Third-party, standalone own damage and comprehensive bike insurance. In this article, we will tell you why comprehensive insurance is the best choice for your two-wheeler.
What is a Comprehensive Plan in Two-Wheeler Insurance?
As mentioned earlier there are three types of insurance available for two-wheelers in India. Third party insurance is a compulsory insurance cover. It takes care of your third party liabilities in case of a mishap including bodily injuries, death and property damage. Standalone won damage is the second type, it is not compulsory. However, it will take care of the damage sustained to your two-wheeler in case there is a mishap unlike the third party insurance. The third type is comprehensive insurance plans. This type of insurance offers holistic coverage by taking care of both third party liabilities and own damage costs in case there is an unfortunate incident. Moreover, you can also purchase a personal accident cover to further protect yourself in case of a mishap.
What are the Benefits of Purchasing a Comprehensive Two-Wheeler Insurance Plan?
Following are the benefits of purchasing comprehensive insurance for your two-wheeler:
Holistic CoverageUnlike the third party insurance and the standalone own damage cover the comprehensive insurance plan will take care of all your needs in case of a mishap including the cost of own-damages and third party liabilities.
Single PremiumThe comprehensive insurance plan offers coverage for third party liabilities and own-damage costs under a single premium. This ensures that you as the policyholder have to face less of a hassle, deal with less paperwork and most importantly remember only one expiry date.
You may also like to read:- 4 Reasons You Should Buy A Comprehensive Bike Insurance Policy
Add-on Covers OfferedAlong with the standard comprehensive insurance plan, insurance companies offer a whole range of add-on covers. These optional and additional covers allow you to pick and choose to create a policy that is well suited to your individual needs and further strengthens your insurance policy.
Personal Accident CoverOne of the best aspects of the comprehensive insurance plan is the personal accident cover. This is optional. However, it is advisable to purchase this as it offers extensive financial protection to the owner/driver in the event of a mishap.
Convenient and Hassle-FreeWhen you compare the three different types of insurance available for two-wheelers in India, the comprehensive insurance offers the most convenient and hassle free experience. It takes care of all your needs under a single plan, with one premium and one insurance document. If you think about the ease of handling insurance, this is the one for you.
No Claim BonusThe NCB is offered with every own-damage cover. Since the comprehensive plan offers own-damage protection every claim free year the insurance company awards their customers with the NCB. This reward is for their safe driving skills and the amount is cumulative in nature. It reaches its maximum in the 5th consecutive year at 50%.
In a nutshell, when looking to purchase two-wheeler insurance, the comprehensive plan always offers the most well rounded protection to both you and your two-wheeler. When purchasing two-wheeler insurance, it is best to do it online. That way you can compare the different two-wheeler insurance providers, the quotes they offer and their cashless garages to find the one that is best suited to your needs.
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.