In addition to being a mandatory document, a two wheeler insurance provides financial assistance at the right time. Before buying a two wheeler insurance, make sure to keep these 6 crucial tips in mind for a great experience:
- It is not the same as a car policy
The essential thing to remember is that a bike insurance policy differs from the car insurance policy. Thus, if you have a car that is insured, and if you think those same parameters would be pertinent for your bike as well, it would be a wrong perception. The other thing to consider is the description of your two-wheeler. Any insurance agency will surely work off a brand name and serial number while inspecting your policy application.
- Type of plans chosen for your two-wheeler
There are fundamentally two sorts of plans.
- Liability policy- it is a required third party policy that covers bodily injury and death or property damage to any third party. Individual accident cover is additionally included just for the owner-driver.
- Package policy or comprehensive plan – apart from including the above liabilities, it also incorporates damage to your vehicle.
- Insurance provider’s flexibility
Select an insurance policy provider that can adjust their plans as per your requirements like coverage for accidents and hospital bills. Also, it is essential that the coverage you acquire for your bike suits your needs and way of life. When you get a bike, you can’t get ready for accidents or thefts, yet can plan for it. Hence, make sure that the policy provider you choose offers an all-inclusive plan that repays you against robbery, accidents, or any such unfortunate occurrence.
- Coverage Types that are accessible
There is an assortment of coverage available for 2 wheeler insurance . Some examples include collision coverage, fire, theft and vandalism cover, insurance for the pillion rider, and so on. Along these lines, pick the policy that would satisfy your necessity.
- Uninsured Driver coverage
In line with the propensity of the common population, many drivers don’t have a legal cover (the cover may have been lapsed and not renewed). If you are involved in an accident with an uninsured rider, you won’t have the capacity to get any claim and would need to manage the expenses of repairs and hospitalisation on your own. So an uninsured driver cover would help you in these cases.
- No Claim Bonus
You are qualified for getting a No Claim Bonus (NCB) for each claim free year. It is a welcome discount on your premium. The NCB begins at 20% for the first claim free year and for each ensuing claim free years, the rate increments to 25%, 35%, 45% constraining to 50%.
Check out these 6 handy tips and make a smart 2 wheeler insurance purchase.