Things to Know about Two Wheeler Insurance Policies

When you purchase a two wheeler, it is essential that you procure a suitable two wheeler insurance policy package. Two wheeler Insurance policies provide coverage for the expenses you may incur in case your bike or scooter is damaged, stolen, or lost. Similarly, if while driving your two wheeler you lose control of the vehicle and meet with an accident, which leads to a public property getting damaged, then the insurance company will provide coverage for the expenses incurred as  ‘third  party coverage’. However, there will be certain terms and conditions that need to be fulfilled before you can claim the benefits. Hence, before you purchase a two wheeler insurance policy, there are certain factors that you must know, to ensure that the policy you purchase meets your requirements.

Evaluating Two Wheeler Insurance Policy Packages

While purchasing an insurance policy for your bike, the first thing that you must take into consideration is the premium payable. Sometimes it is financially beneficial to purchase a multiyear two wheeler insurance policy. Such policy packages require the insurer to pay the premium once for an extended coverage of two or three years, as per the tenure mentioned in the policy package. Listed below are some other factors that you must take into consideration while purchasing a two wheeler insurance policy:

· While purchasing the policy, ensure that the insurance company is a reputed one and is known for quick claim settlements. Ideally, claims should be settled within seven working days.

· When you put in a claim, the insurance company usually sends over technicians to inspect the vehicle. The inspection and claim service itself should be hassle free and cashless.

· If you purchase a long term two wheeler insurance policy then check the Non Claim Benefits (NCB) carefully, for increased savings. Such a policy can also provide you with an annual protection against third party premiums.

Thus, while purchasing a two wheeler insurance policy, read the policy documents carefully and ensure that the terms and conditions mentioned are as per your requirements. Also, purchase the policy only from a reputed insurance company, for better assistance and quick settlement of claims.