How Can You Claim Insurance Money from an Online Insurance Platform?

Consider a scenario wherein you have just purchased a two wheeler and you need to purchase a suitable insurance policy for your two wheeler. The two wheeler insurance policy that you purchase will protect you against incurring extensive expenses, in case your bike or scooter is lost or damaged. 

Moreover, it is advisable that you purchase the two wheeler insurance from a reputed online platform as this will make it easier for you, to claim the coverage in case your vehicle is damaged. The claims assistance provided by the online platform will make it easier for you to receive the compensation and you can repair your two-wheeler at the earliest. Some of the steps to be followed while registering a two wheeler insurance claim on an online platform have to be discussed below.

 

Raising a Ticket for Claiming Two Wheeler Insurance

Other than making the process of raising a claim for two wheeler insurance, the online platform from which you want to purchase the insurance policy will also help you to identify the cheapest two wheeler insurance. Such an insurance policy will provide you with adequate coverage within reasonable premium rates. Along with helping you find a suitable two wheeler insurance policy, the online insurance policy retailing platform will provide you with claims assistance in the following manner:

• You will have to first register online and raise a ticket, to claim coverage of the expenses incurred in case your vehicle is damaged or lost.
• On receiving the intimation from your side an executive on the payroll of the online platform, from which you have purchased the insurance policy, will get in touch with you. You will have to provide all details of the damages sustained by your two wheeler to the executive. 
• If you have shifted your vehicle to a garage, then a surveyor will be sent to evaluate the condition of the vehicle. You will also have to submit all the requisite documents to make the process insurance claim settlement easier.

Thus, an online insurance platform will provide you with comprehensive support from purchasing of insurance policies to claims settlements. 

Why Should You Not Delay Purchasing a Two-wheeler Insurance Policy?

Sometimes, owners of two-wheeler do not bother about purchasing a two-wheeler insurance policy in spite of the fact that two-wheelers are more prone to accidents. Insurance companies state that two-wheeler owners, without having an insurance policy, can end up incurring extensive expenses if their vehicle gets damaged in an accident. Buying an insurance policy is mandated by law. So, it is important to have a two-wheeler insurance policy before you start riding your two-wheeler on the road. Not only this, a two-wheeler insurance policy also helps you to safeguard your savings against financial liabilities and avoid being into any legal hassle. Thus, instead of wasting your time, you should purchase a two-wheeler insurance policy for your bike or scooter at the earliest. 

Purchasing Two-Wheeler Insurance Policy at the Earliest

 

An executive from an insurance company from which you decide to purchase an insurance policy for your two-wheeler, can better explain which particular category of insurance policy can effectively safeguard your savings against financial liabilities. If in case you are caught in an accident without having a proper two-wheeler insurance policy, then you will have to pay for the third party damage from your savings which can adversely affect your finances. Hence, you can’t deny the significance of having a two-wheeler insurance policy because it protects your hard earned savings. Now, let’s take a look at the reasons for purchasing two-wheeler insurance at the earliest:

• In case you meet with an accident, you can avoid legal hassles if you have two-wheeler insurance policy. However, you must ensure that the premium of the insurance policy has been paid on time, and the policy has not lapsed.
• In India, it is mandatory to have an up-to-date motor vehicle insurance policy even if you are the second or third owner of a two-wheeler.
• The insurance policy will also provide personal accident coverage with regard to the owner of the two-wheeler. This makes it all the more important to purchase a two-wheeler insurance policy.
• With comprehensive coverage, the insurance company will bear the major part of the cost of repairs if in case of an accident. In this regard, go for a no-depreciation policy to be fully covered on this front and avail cashless repairs.

As mentioned time and again, in order to safeguard yourself against incurring financial losses, you should never delay purchasing two-wheeler insurance policy. It is also advisable that you purchase the policy from a renowned company to be assured of excellent services and quick settlement of claims.

Why You Need to Buy a Complete Comprehensive Insurance Policy for a Car?

People always love to buy big and expensive cars but they tend to avoid paying an additional premium for extra coverage for vehicles. It has been observed in many cases that vehicle owners always prefer to buy minimum liability coverage for their vehicle and seem to avoid some additional coverage which comes at a little high premium. It is always important to buy a complete coverage for the vehicle and it is beneficial to the owner of the vehicle in many ways.

Comprehensive policy
It is a complete package policy wherein own vehicle damages will be covered up to the Insured Declared value. And any third party property damage or third party injury/death can be covered in the comprehensive four wheeler insurance policy.

Third Party Liability
This cover protects you from any liability arising from third party bodily injury or death and third party property damage (TPPD).  This is a mandatory requirement under the motor vehicles act 1988. Also, the Third Party Liability cover is unlimited and is determined by the court.

Insurance is mandatory
It is mandatory to get at least a third party cover for all motor vehicles in India. But that can protect you only to a certain level- when a damage is caused to another party because of you. Third party insurance will not cover your own vehicle. Well, with a little more thought and price, you can get a comprehensive cover which will include your vehicle, a personal accident cover and a third party liability cover.

India at present has the highest number of road accidents in the world. At such a rate, you don’t need paying heavy fines or a spend stint in jail with the third party insurances at unbelievably low claims. Instead of trying to “save money” on your insurance premiums, it is smart to choose a plan which covers complete losses.

Understanding the Key Benefits of Two Wheeler Insurance

The demand for two-wheelers has always been high and apart from being economical, the two-wheelers are also considered to be the most convenient vehicle, as it helps in beating the heavy city traffic. Taking a bike out of the traffic is much more convenient than getting a car out.

If you compare the latest technology two wheelers with that of the two wheelers of the earlier times, you will see that there is a marked difference between the two. Just as the modern day two wheelers are technologically advanced, similarly even the modern day two wheeler insurance coverage is much more advanced than the insurance coverage given earlier.

If you get two wheeler insurance from a reputed general insurance company you will be entitled to get a number of benefits and if you want to know more about these benefits, you can go through the list given below:

• A reputed general insurance company makes sure that they provide you with cashless claim service and hassle-free inspection
• The insurance company provides coverage for a total or a partial damage to the vehicle that might be caused due to theft or an accident
• The third party body injury and third party damage is also covered under this insurance policy
• If you do not make any claims, then the insurance company makes sure to give a No claim bonus and this no claim bonus provides you with discounts on your insurance premium
• A reputed insurance company makes sure that they are able to settle the claims of a policy holder within 7 working days
• In case you lose your two-wheeler key, the insurance company also assists you to get a new key
• A reputed insurance company makes sure that they let the policy holder know about the depreciation of the parts which might need replacement due to the damage caused by an accident.
• They also provide excellent customer service even on Sundays and holidays in order to ensure an effective claim settlement procedure.

Thus it is quite clear that there are many advantages of getting two wheeler insurance done from a reputed company, however, there are certain things which are not covered under insurance and given below is a list of such things: 

• The insurance company does not cover depreciation, wear, and tear or any mechanical breakdown that may be caused to your vehicle
• Damage caused to the vehicle due to nuclear or war perils or due to drunken driving is also not covered under insurance
• The insurance company does not cover any claims which might arise due to contractual liability

So, it is very important that you get bike insurance from one of the most reputed general insurance companies. This will help you to get a policy at quite an optimum rate. Apart from providing you with insurance at a reasonable rate, a reputed general insurance company will also make sure that you are able to get a coverage which best suits your needs and purpose.

Benefits of Online Bike Insurance Renewal

Having a two-wheeler insurance policy is important for everyone who owns a motorcycle. A number of researches show that most two-wheeler owners, who buy insurance with their new vehicle, often forget about their duty once the two-wheeler is in their possession. They forget to renew the bike insurance policy that protects them from unforeseen hazards such as accidents, theft, or burglary.

In order to continue availing the coverage and benefits under a bike insurance policy, the policy owner needs to make sure that they renew their bike insurance online or undertake the bank procedure for renewal. While banks and other financial organizations offer walk-in policies, availing and renewing online bike insurance is convenient and easy. Other benefits of online bike insurance renewal have been listed below:

1. Protection against Disasters:
Renewing your bike insurance online on time can save you from unforeseen expenses that you might incur due to fire, cyclone, earthquake, landslide, flood, storm, or other natural disasters. In such cases, an active policy bears the cost of repairing the damages caused.

2. Safety from Misfortunes:
Loss or damage incurred from activities like theft, strike, accidents, war, or burglary, are all covered by online bike insurance policies, and timely renewal can keep you covered, and reimburse you for the service costs or replacement charges for your damage.

3. Defense of Legal Interest:
Most policies include a third-party insurance that ensures that you are free from any third-party liability, which may occur as a result of an accident. A renewal can save you from bearing the expense of fixing any damages caused to the other persons or property.

4. Access to Discounts and Perks:
Online bike insurance renewal, done on time, can get you a number of discounts and perks, such as No Claim Bonus (NCB), quick access, and no extra charges.

The biggest perk that a timely online bike insurance renewal can get you is assurance and peace of mind. It can save you from unnecessary hassles and costs which may otherwise be difficult to handle.

What To Do If Your Car Insurance Expires

Car insurance is mandatory for every car on the road. Car insurance can either be a comprehensive cover or a third-party policy. A comprehensive cover provides complete protection against personal damages and third-party liabilities, whereas a third-party cover only provides protection against third-party liabilities. Depending upon your requirement, you can purchase the car insurance cover that suits you.

The rising number of accident cases, highlights the need to carry a minimum amount of auto insurance, in order to be financially responsible, should an accident occur. Some people don’t realize their insurance policy has expired until they are involved in an accident.

Here are the steps that you can take if your car insurance policy has expired -

• Don’t drive your car:
If your car insurance policy has expired, it is better that you don’t drive your car till the time you get it renewed. If you drive your car without insurance, you might be exposed to risks, such as an accident, or a legal issue; as driving without an insurance policy is illegal.

• Contact your insurance agent:
If you have missed out on the date of renewal, you should contact your insurance agent as soon as possible. Being an expert, your agent will be able to help you out in such cases. Your agent can reinstate your insurance and save you from paying a penalty.

• Keep documents handy:
Collate all the documents required for renewing your expired policy. Keep your expired policy, car registration certificate, and other documents handy before you head out to purchase a new car insurance policy.

• Buy a new policy immediately:
Decide on the coverage you want and buy a policy as soon as you can. You can also purchase online policies through insurance providers and third-party websites. When you buy online, you receive the policy documents instantly, via email.

Remember your policy expiration date for the next time, or set a policy expiration alert with your insurance provider, to avoid any policy lapse in the future.

Two-Wheeler Insurance In India- Important Things That You Should Know

As per the law, it is necessary that people using two wheeler on the roads must get their vehicles insured.  Motorcycle riders are prone to accidents. Due to rash driving and other factors, there is always the risk of an accident. As with any risk, it must be covered by using appropriate insurance.  The role of 2 wheeler insurance is to minimize loses that are bound to happen if a rider meets with an accident on the road.  There are different types of insurance policies for two wheeler riders- 

• Third Party Insurance: As the very term implies, this type of insurance covers the third parties that are involved in the accident caused by the two wheeler owner.  Most often, this type of insurance is the most economical of policies that cover vehicles.  Here, it is important to note that any damage to the owner’s two-wheeler would not be covered.  This is the type of insurance that is the cheapest to own.
• Comprehensive Policies: This type of insurance policy covers all liabilities that arise due to an accident.  As the risk covered is higher, the premium for this insurance is also higher.  Most bike insurance renewals in India are of this type as it provides complete peace of mind to the vehicle owner.

The Role of Two-wheeler Insurance
 

With insurance it is possible to lower the risks faced by road users.  With insurance, the high cost of accidents can be mitigated by the payment of a small amount of premium.  Two-wheeler Insurance is as old as the motor vehicle industry and the first motor insurance was introduced soon after the first large scale vehicle production was undertaken. 

Mitigating Costs

Insurance does minimize the cost of damages.  It shields the vehicle user from the huge costs that would otherwise have to be borne by a single person.  Even loss of life is covered by insurance and in many cases of motor vehicle accidents the huge liabilities has indeed been offset by the policies taken by the vehicle owners.
 

It is seen that the losses covered in comprehensive insurance policies are much higher than the other forms of insurance.  It thus goes without saying that the comprehensive policies have higher premiums.  Most vehicle owners that use expensive vehicles do opt for this type of insurance as the risks to vehicles too are covered under the policies. 

Statutory Requirements

Accidents happen not due to set causes but through means that are beyond control.  The benign role that insurance plays in mitigating costs has meant that most places make it mandatory that some form of insurance is taken out for the vehicle before it can be used on the public roads.  These days, anyone can buy two wheeler insurance online. Most of the renowned insurance companies offer two wheeler insurance policies online. This has made it easier for people to purchase the right insurance policy and also renew it anytime.