The Benefits Of Two Wheeler Insurance
Bike insurance in India is a very common insurance product
. Every bike is old with an insurance policy.
Many first time bike buyers do not understand what a two wheeler insurance policy means. Bike insurance policies cover a bike owner against the unfortunate instances of an accident or damage to the motor vehicle. The government has made it illegal to drive a two wheeler without valid scooter insurance. The benefits of bike insurance in India are enumerated below.
A two wheeler insurance policy ensures that if your precious bike is damaged in any way then you are not left high and dry. Bike insurance will offer you protection if your bike damaged in natural calamities like earthquakes, floods, storms, rockslides and landslides. Scooter insurance policies also cover the owners against man-made calamities like traffic accidents, fires, explosions, burglary, theft, riots, terrorist attacks and damage while the bike is in transit. With fast paperwork and minimum processing time, now days claims can be settled within a few days, once all the requisite paperwork is done.
A two wheeler insurance policy also comes with a personal accident cover for the owner. This means that if the owner meets with an accident while driving the bike he will be eligible to claim a payout from the insurance company. Third Party Cover is the most important aspect of a
bike insurance policy as it ensures that you are protected against legal liability In case there is accidental bodily injury or death of a third party. In addition to this third party liability coverage also ensures that any damage caused to a third party's property is covered by the policy.
If the bike owner makes no two wheeler insurance claims over a period of time, the company will offer him a no claim bonus which is a discount on the subsequent premiums that he will pay for scooter insurance. In fact, currently in India, no claim bonuses can be transferred among insurance companies if you can provide the requisite paperwork. This bonus is only offered when you renew your bike insurance. If you have an approved anti-theft device installed on your bike, then you could get a discount from your insurance company.
Two wheeler insurance in India is a growing segment and almost all insurance companies now offer their bike insurance policies online. These online policies are heavily discounted and the companies will in fact issue a cover note for a policy within hours. You can fill the forms online and submit digital copies of all the documents needed. In fact some companies have now started issuing policies exclusively online and ensured that their customers do not have to wait in lines and fill in huge amounts of forms.
Two wheeler insurance has ensured that Indias road are safer and that in case of accidents, people are covered by insurance. Seek advice about bike insurance online if you need to buy or renew a policy soon.
by: oveearya
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