Importance of Two-Wheeler Insurance and its Renewal

These days, people are using two-wheeler for several purposes, including personal and commercial. Irrespective of the purpose, two-wheeler is of paramount significance to every Indian who owns it today. However, many people are very casual about vehicular protection against risks such as accidents, burglary, theft and many more. This is either due to lack of knowledge or apathy. Some people are not aware of the benefits of bike insurance and some are very indifferent towards protection.

Buy insurance online

Today, it has become very convenient to buy two-wheeler insurance policy due to the mushrooming of various online platforms. You can buy a two-wheeler insurance policy without moving an inch via online portals. It has also become a necessity, as a two-wheeler without insurance cover can easily turn into a huge liability for you in case of expected or unexpected calamities. In case, you haven’t bought a policy, then the time is ripe for one.

Things to consider before buying the two-wheeler insurance

1. Type of insurance

It is important to be aware of the kind of coverage you need. There are chiefly two types of two-wheeler insurance, i.e., third party and comprehensive. Third party insurance is required as per law, and offers protection to the third-party for damages to property or any injury to an individual, where the policyholder is responsible for the accident. Whereas, the comprehensive insurance covers both, third party damages and own losses. So, choose the insurance as per your requirements.

2. Add-on services

Bike insurance also has provision for various add-ons or additional services, which are voluntary in nature. These services are very cost-effective and include options such as fuel assistance, towing facilities and many more. The add-on aspect is crucial for preserving your No Claim Bonus as well. So, choose these wisely.

3. Inclusions and exclusions

 It is pertinent to know the inclusions and exclusions in your online two-wheeler insurance policy. Some examples are: claims related to incidents under the influence of drugs, alcohol etc., damage due to nuclear risks, etc. Go through all the terms and conditions before opting to buy a policy.

4. Proper research

There are several companies offering various two-wheeler insurance plans online. Hence, it is incumbent upon you to compare, research and find the one that fits the bill perfectly. There is a lot of information on the internet about terminologies, clauses, calculators and so on, that can help you take a wise decision.

5. Cheap things are not good

As there are many insurance providers online, price variations will always be there on the cards when it comes to premium amount. You are bound to find premiums at throwaway prices, but they need not be having sufficient coverage. Also ensure that you compare not just the price but also the company history, service offerings and other important areas related to your two-wheeler insurance.

6. Don't suppress facts

Be very truthful and sincere while providing your bike insurance details. Otherwise problems can crop up while insuring the bike online or during the claim process.

Why is it important to renew two-wheeler insurance?

· As per the Motor Vehicles Act, 1988, it is illegal to ride a two wheeler without a valid insurance.

· You will be solely liable for any damage or loss caused by you or inflicted upon you.

· The benefits of insurance policy can be availed only if you renew the policy each year on time

· One policy expires the renewal becomes cumbersome due to vehicle inspection and other processes

Last but not the least, don’t ride your two-wheeler without insurance, as you are not only endangering your life but also the lives of several others on the road.

What Factors To Look Into When Finding Online Insurance

Insurance is the only way to protect yourself and your family in times of unforeseen circumstances. Whether it is about buying the best health insurance or the best medical insurance, the biggest question is how good the coverage is going to be. Buying insurance can be a hassle but the option to obtain it online has made the entire process a lot easier.

Insurance is an important part of every individual and a good insurance backup provides you with a sense of peace. Since life is so uncertain it is better to be safe than sorry for any unpredictable incident. You can buy fantastic coverage for various types of insurances. Finding an insurance plan can be a difficult task, however it is important to keep in mind certain things before you search for the right insurance plan online.

1. Know What Coverage you Want: First, you must determine what kind of insurance you really are in need of. Search about the benefits it would offer and whether or not it will be feasible as per your need.

2. Read Company Reviews: Since there are so many insurance companies online you have to be careful in choosing the one which provides you instant service at the time of uncertain needs. Read customer reviews about a company will always show you the bigger picture about what the services the company offers, how it serves its customers in times of need, etc.

3. Compare Insurance Online: Just before you are ready to buy insurance online, compare your insurance policy with other plans available online. Comparing insurance will always tell you more about the insurance you have decided to buy. You can compare such plans as are offered by different companies in terms benefits, premium rates, additional services, etc.

4. Find a Genuine Company: Any insurance company must never be taken lightly. It is important to find the one firm that has an approachable office nearby your location. The company should be a brand name and must be known to many. Whether it is about finding the best health insurance or medical insurance in India, the entire idea is that the insurance company should be prepared to support you when you really that such aid the most.

5. Ask for Discounts: When you plan to buy insurance online there is a possibility that you can fetch discounts upon various multiple insurance plans together. For example, if you seek to purchase health and medical insurance together for yourself and your entire family, you maybe be able to find a great deal on the premium as well.