A two-wheeler in today’s day and age is more of a necessity than a luxury. With towns and cities growing each day, commuting at times can get cumbersome if you do not have your own vehicle. Moreover, the increasing congestion and traffic snarls make it convenient to own a two-wheeler rather than a four-wheeler. You can easily manoeuvre without having to spend long hours stuck on the road.
Now that you know the importance of a two-wheeler to commute with convenience, it is necessary you ensure its safety. A two wheeler insurance policy is the go-to option to protect your bike. Furthermore, the Motor Vehicles Act, 1988 makes it compulsory to have a motor insurance policy for all vehicles registered in the country.
Let us learn more about the various benefits of a bike insurance policy.
Third-party insurance cover
Third-party coverage is the basic element of every bike insurance policy. Moreover, it is the base requirement as per the law too. When you purchase a bike insurance policy, it ensures you are financially protected against any liabilities incurred upon third-party during an accident. This policy covers the injuries to a person as well as damages to their property.
Personal accident cover
Personal accident cover is mandatory and required to be purchased whether you have a third-party policy or a comprehensive one which includes own-damage cover too. This cover need not be purchased each time you buy two-wheeler insurance if you have the minimum mandated cover as a part of your bike insurance.
Cashless claim
Many insurance policies offer the facility of a cashless claim. Here you can avail a completely cash-free claim settlement procedure. All you need to do is visit a network garage for any repairs or damages and intimate the insurance company about the same.
Reimbursement of repair costs
The primary principle of an insurance policy is to make good for the losses and reimbursement mode is the more prevalent and common type. Here you need to submit the insurance company with valid invoices and documents that specify the cost of repairs of your bike. On verification, the insurance claim is accepted, and the insurer pays the admissible amount of repairs as reimbursement. Earlier physical claim submission was standard, but modern-day claims can also be applied over the internet.
Feeling of security
No cost is expensive when it comes to ensuring safety, whether it is your health or for your bike. Bike insurance policy ensures you have peace of mind and financial safety-net to carry any repairs of your vehicle. While accidents aren’t something that can be avoided, the results are daunting. Thus, always ensure you have adequate financial cover in the form of bike insurance.
Further do not forget to review your policy at each two wheeler insurance renewal. When purchasing insurance plans, various optional add-ons can be purchased to enhance the coverage significantly. But make sure you do not purchase unnecessary add-ons as it will shoot up the premiums. To keep your premiums in check, you can use a two wheeler insurance premium calculator. It not only helps to keep your premiums in check, but also aids the comparison of the various available plans. Take advantage of these benefits of a bike insurance policy and ensure you have a peaceful and safe ride.
