by sujit p
Published Mon, Jan 30th 2017, 15:17 | Health
The need and utility of two wheelers will never change, no matter which decade or era we are living in. Buying a two wheeler is a sensible and economic decision and there is no need to mention that it is one of the easiest ways to beat the traffic congestion that we face daily on our city streets.
If you are purchasing a two wheeler for yourself, then you must not forget to buy a two wheeler insurance policy as its mandatory to have it under the Motor Insurance Act. You can purchase two wheeler insurance for your motorcycle, bike, scooter, etc. It offers wide coverage that helps you in driving securely.
Features & Benefits
The question that arises is why to buy it? Below is the list of features and benefits that may help you in deciding.
Stress-free inspection & cashless claim service
Offer coverage on partial or total loss to your vehicle that occur because of an accident or theft.
Provide coverage on third party damage and third party bodily injury.
You may get attractive discounts on renewal (NCB) for a claimless year.
Predefined reduction for the parts that requires replacement.
Vehicle transport to the nearest garage in case of major breakdown.
Lost key assistance
Add on coverage as well
Need of Insurance
It offers financial coverage for any type of damages or loss that occurs because of natural calamities such as fire, flood, etc.
Coverage against man-made calamities as well that includes theft or accident by external means etc.
The third party legal liability offers coverage against issues arising out of injury/death or property damage to the third party by your vehicle.
Before purchasing two wheeler insurance for your bike, scooty, scooter or any other two wheeler, it is essential to know the basic terminology of the same.
Premium
The premium you paid for insurance depends upon several factors such as city where the vehicle got registered, model, age of vehicle, year of manufacture, etc. Premium is decided and regulated by IRDA hence there is not much difference across several companies.
Coverage
It is the financial protection that the insurer offers to you and your two wheeler against any damage and loss caused due to any natural and/or man made calamity. Coverage depends upon the insurer and the plan chosen. That's why it is advisable to buy two wheeler insurance online after comparison.
Exclusions
While purchasing the best two wheeler Long Term Motorbike Insurance Online, you must check its exclusions as it will tell you about situations where the insurer will not be able to offer coverage and required assistance.
Some exclusions will be- normal wear and tear, damage due to drunken driving, driving without license, damage caused by war or nuclear explosions, etc.
Claims
After purchasing the best two wheeler insurance online, you are entitled to get the claim for the damages. It is advisable to not file for any small claim as it will reduce the chances of getting NCB discounts at the time of renewal.
It is advisable to read all the terms and conditions in detail before purchasing an insurance policy. Select your policy wisely making sure it suits your requirements.
Source: - https://goo.gl/MnbPzB