Buying a two-wheeler in India is similar to buying any usual daily commodity. Given the population of this country, seldom would you find a household in an urban area without a two wheeler. Thus, it comes with the risks of meeting with road accidents, mishaps, etc. The Indian Motor Vehicles Act makes it mandatory for all two-wheelers to be insured with third-party insurance. How about trying to ponder on the benefits of getting insurance for your ride?
Insuring your bike would ensure you do not have to burn a hole in your pocket in case of the occurrence of mishappenings, like a road accident to be common. In fact, if it’s a motorcycle, then your insurance would even save you from acts of God. To be very precise, natural disasters like earthquakes, floods, etc may ruin your ride but would allow you to claim your damage from your insurance firm. In the case of scooters, you get additional rewards like reimbursement in case of traffic mishaps, fires, robberies, etc. With the required documentation, you can put forward your claims and save yourself from unexpected expenses.
Maybe unfortunately you tend to damage someone else’s vehicle, and in the process hurt yourself. In such cases, getting a third party insurance cover for your two wheeler must be on your priority list. Such policies reimburse the expenses needed to repair any third party damage, even in extreme cases like severe physical injuries or death. While comprehensive insurance helps in covering personal injuries, medical charges that are reimbursed are applicable to a maximum of 50 days of hospitalization in the case of the insured himself. In case the insurer dies on the spot, the insurance company would provide the entire principal amount to save the family from suffering any sort of monetary crisis. However, there are certain conditions in which you won’t stand a chance to claim any money:
- If the accident is caused due to the insurer under the influence of alcohol or any drug.
- If the accident seems to be a deliberate act.
- If the accident is caused due to the violation of any law.
Meeting with an accident risks your life as well as the ones who depend on you for their survival. In case of any unfortunate incident where the insured suffers a permanent disability, upon claim and verification of necessary documents, 100% of the capital sum would be reimbursed to his family or the benefactor as per the documents. If it’s a partial disability, then reimbursements would continue for a certain period of time depending on your insurance policy.
Perfect for the perfect riders:
Suppose you get your bike insured, you have successfully avoided any such situation where you would want to claim any money from your insurance firm. Under such circumstances, the insurance company would reward you with a no claim bonus – you would receive discounts on your annual premium. However, this discount would only be applicable if you do not forget to renew your insurance policy from time to time.
Ease of Availability:
The bike insurance sector is one of the most rapidly growing and improvising sections in our country. Given the number of two wheelers on Indian roads, they take care of protecting any sort of road mishappenings. Numerous policies with a variety of offers are available online. In fact, major auto companies provide you with the most suitable terms and conditions depending on your choice of vehicle and your commuting activities.