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Bike Insurance - Know Your 2 Wheeler Insurance Policy

Buy Two-Wheeler Insurance in 4 easy steps. Bajaj Allianz provides online 2-wheeler insurance with hassle free 24/7 claim settlement support.<br>https://www.bajajallianz.com/Corp/motor-insurance/two-wheeler-insurance.jsp

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Bike Insurance - Know Your 2 Wheeler Insurance Policy

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  1. Bike Insurance

  2. Know Your 2 Wheeler Insurance Policy

  3. A two wheeler insurance policy plays an important role when your vehicle is damaged or stolen. Hence, it is important to know the basic terms of an Insurance policy. It helps while taking and renewing policy and passing the claim of vehicle. • Let us have a look to some important points of a two wheeler insurance policy and its act. The insurance policy premium is decided as per the guideline given in the India Motor Tariff Act 2002 which is in accordance with the provisions of part II B of bike Insurance Act 1938. There are basically two types of insurance policy comes under this act. • Liability Only Policy: This covers Third Party Liability for bodily injury and/ or death and Property Damage. Personal Accident Cover for Owner-Driver is also included.

  4. Factors Affecting Insurance Policy Premium These are the following factors which affect a rating of two wheeler insurance policy. • Insured’s Declared Value (IDV): It is the value of the vehicle for which is insured under the two wheeler insurance policy. It remains fix for the tenure of the insurance policy. IDV is fixed on the basis of manufacturer’s listed selling price. • There is also IDV for side car accessories etc., the selling price of which is fixed in similar fashion if it is not listed with the manufacturer’s selling price. • IDV is calculated after appropriate depreciation applied as applicable. Here is the table of depreciation.

  5. GeographyIndia Motor Tariff has divided geography in two parts for India, Zone A and Zone B. Zone A includes cities such as Ahmedabad, Banglore, Chennai, Hyderabad, Kolkatta, Pune, Mumbai and New Delhi while Zone B includes rest of India. The premium rating is higher in case of Zone A compared to Zone B. • Age of the vehiclePremium rating increases with the age of vehicle. In short, there is higher rate of premium as the age of vehicle increases.There are certain other things also which we should know are:Geographical area: Normally an insurance policy covers only territory of India. • [Source:http://autofarm.blogspot.in/2012/03/know-your-2-wheeler-insurance-policy.html]

  6. Follow us on https://www.facebook.com/BajajAllianz http://www.linkedin.com/company/653474 https://plus.google.com/+BajajAllianzGIC/posts https://twitter.com/BajajAllianz https://www.youtube.com/user/BajajAllianzGIC https://instagram.com/bajajallianzgeneral/

  7. Click to know more on bike insurance: https://www.bajajallianz.com/Corp/motor-insurance/two-wheeler-insurance.jsp Thank You….

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