Two wheeler insurance: A key factor to protect your bike

Posted by sanjay on June 6th, 2017

As a rule being implemented by Indian Traffic Law, 1988 it is mandatory to own atleast a third party two wheeler insurance if you wish to drive your prized possession on the road. Incase you drive without a suitable insurance cover it could attract heavy penalties. When you own a suitable cover you have a sense of security in your mind while riding your bike. You know that if in case there is an unfortunate accident and there is damage to third party property or human injury or loss of life your insurance policy will take care of the immediate financial requirements. A thorough inspection is done by the insurance team, necessary documents have to be submitted to the company and then the insurer issues the claim amount.

Thanks for the handful of premium costs that you pay towards your two-wheeler insurance and get a huge financial cover in return during such unexpected incidence of life. In spite of being an important segment of your bike purchase people tries to neglect buying insurance plan, because of hectic schedule or not even knowledge on the subject. However with the advent of internet based facilities buying a two-wheeler insurance cover for third party damages is as quick as possible. You can buy policy at the click of the button from your home, offices, or while on the go. The best part is these online aggregator sites let you compare policy in terms of benefit and features, discounts, NCBs discounts, claim settlement ratio, premium costs, etc. You can carefully evaluate the policies of your choice and then go for buying with the relevant firm.

Some companies have come with user-friendly app for comparing quotes, policy buying/renewal, premium payments and also make a hassle-free claim online.

Third party two-wheeler insurance is the policy that will protect you against any damages caused to a third party. It is economical as compared to a comprehensive motor insurance policy.  Getting a third party two-wheeler insurance is quite easier and needs lesser documentation. It’s because it covers only third party damages or loss and not the insured vehicle.

It’s advisable not to get confused with third party and comprehensive cover.  Your comprehensive policy will cover both the third party damage as well as your vehicle. Therefore, expert suggests going for comprehensive cover buying only.

To renew your third party cover, you need to remember the expiry date. With online facilities you can set reminder on time to time basis. To avoid inspection again and again as well as charges on it, you can renew it well before the expiry date. It’s better to know the terms and conditions, inclusion and exclusion on the policy. Every year government increases the price of third party cover. The best way to combat against this price hike would own long term two wheeler insurance cover.  It helps you to lock down the price for next three years and enjoy cover at reduced prices.

Some documents required at the time of renewal would be: current policy to refer, registration certificate of your insured two-wheeler, debit/credit card banking details. With the help of UPI facilities you can manage payments with a mere M-PIN id. You don’t have to give all those complicated details of cards or login credentials.


sanjay

About the Author

sanjay
Joined: June 29th, 2016
Articles Posted: 114

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