Two Wheeler Insurance
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Why two wheeler cover is so important for your vehicle? PowerPoint PPT Presentation


2 wheeler insurance is mandatory by law in India. It is an excellent source to protect you against financial losses due to theft or accident, or natural calamities like fire, storm, earthquake, etc.

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Why two wheeler cover is so important for your vehicle?

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Why two wheeler cover is so important for your vehicle

Two Wheeler Insurance


Why two wheeler cover is so important for your vehicle

Why two wheeler cover is so important for your vehicle?

2 wheeler insurance is mandatory by law in India. It is an excellent source to protect you against financial losses due to theft or accident, or natural calamities like fire, storm, earthquake, etc.

Two wheeler insurance policies offer comprehensive cover against natural calamities, man-made calamities such as building collapse and more accident, else your vehicle is stolen. During such incidence if you have your comprehensive cover in place, it will help you make cashless claim through wide network of garage across India- wherein the insured can get their two wheeler repaid free of cost.


Why two wheeler cover is so important for your vehicle

Third party cover protection is mandatory against accidental damage for losses done to third party place, property or person resulting in injury or death. Damages while travelling by road, rail and air are also covered within your 2 wheeler insurance cover.

It is important to understand the inclusions and exclusion in your cover. Generally ageing of the vehicle due to normal wear and tear is not covered by insurance policy. Damages done to rash and negligent driving, without valid driving license, driving with consumption of alcohol is not covered the insurance policy. Wear and tear parts like tyres, tubes are not covered under the policy.

Online websites have introduced calculators that will enable an individual to select a standard policy bests suited as per requirement and mostly important that fits into the budget. 


Why two wheeler cover is so important for your vehicle

Online comparison sites help individual compare policy in terms of benefits & Features, discount offered, claim settlement ratio, premium payment flexibility etc. Premium for two-wheeler is calculated based on the IDV of vehicle, place of registration, age, make and model etc.

It is important to understand varied customized policies offered by companies and then go for suitable purchase. Recently, many insurers have launched long-term two wheeler insurance which covers your bike for up to three consecutive years as against the regular cover of only one year.

Online comparison gives full transparency as everything present here is a genuine piece of information. Insurance companies abide by the rules and regulations of publishing or listing rates online.


Why two wheeler cover is so important for your vehicle

The IRDAI has permitted introduction of this long-term cover to tackle the issues yearly lapse of renewal due to hectic schedule or other reasons. It helps to encourage two-wheeler owners to buy the mandatory third-party cover.

Long-term bike insurance saves consumers from the hassles of renewing the policy every year. Insurance companies are willing to offer discounts on the own damage part of the policy premium for long term insurance policies. It helps insurer save on administrative and policy-issuing costs. These savings are in turn, passed on to the customer in the form of a discount.

Once you decide upon which kind of insurance policy you might need, comes the step of deciding on insurance premium rates and quotes often being a complex and time consuming process


Why two wheeler cover is so important for your vehicle

Two wheeler insurance premiums depends on a lot of points like age of the vehicle, depreciation cover, inclusion of third party car insurance and inclusion of other add-ons like personal insurance policy, property damage cover and cover for the rest parts of the two wheeler usually not included in insurance cover. Insurance premium will get reduced in the scenario of less covers and more covers will require higher premiums.


Why two wheeler cover is so important for your vehicle

http://www.bajajallianz.com/Corp/motor-insurance/two-wheeler-insurance.jsp

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