Don’t you just love your two wheelers? Your own bike can give you the freedom to travel at a low cost and conveniently. It is definitely a dream come true when you own your first two. However, with this newfound mobility also come the risks on the road. Here is where bike insurance comes in play to make you safe and secured.
How to buy Bike Insurance:
If you have got a new bike or a two wheeler then you are usually asked by the motor vehicle outlets, whether, you want to insure your bike against losses caused due to accidents and thefts? After a year when the cover is about to expire you would want to renew the existing insurance cover or purchase a new one from a third party.
Choose your insurer:
In India as per the law, availing at least third-party insurance is mandatory when buying a bike. You can either go directly with various companies providing bike insurance such as Bajaj Allianz, Reliance, ICICI motor insurance, Bharti AXA, etc. individually or you can visit certain websites online, where you get to compare various plans offered by all the above- mentioned insurance companies.
You can view which company offers accidental covers, see the ratio of insured claim, as well as the number of garages. Usually most of the companies offer a third party cover and you get a personal accidental cover of 1 Lakh. All of these insurance covers are given as a protection against damages due to unfortunate incidences. Many times, it is seen that unforeseen accidents incur huge losses to either the riding party or the party that the rider hit. In such cases that huge sum is borne by the insurance company you bought bike insurance from.
Type of Insurance policy
It is notable that there are mainly two types of covers, one which fully covers any damage caused to the vehicle as well as the rider and other liability, and other which covers only damages arising from a third party encounter. You can choose bikeinsurance as per your choice. With increasing cases of vehicle thefts and accidents in India it is always a smart move to insure your vehicle against damages and thefts. With the entry of more players in the market, competition has increased and this has lead to companies giving additional benefits along with their regular bike insurance covers. This attracts customers to stay with them and renew their policy every year.
You can now buy bike insurance policies online without much hassles and putting in less efforts. This helps in choosing the policy, which is a best fit for your requirements. . Moreover you can compare the features of various policies and seek for the best discounts. Registration is done quickly online. Improvement in technology has enabled speedy transaction and renewal of existing insurance policy can be done without putting in much efforts. You can renew them using you mobile apps as well. Convenience of the customers have been taken care of and this is what has made third parties to avail insurance online.
Hope we have covered all the points to give you a clear indication on how to buy a bike insurance in India. It is preferred to compare the plans before zeroing down to the right product.