Renew Your Two Wheeler Insurance After Detailed Comparisons

Two-wheelerinsurance is absolutely essential in India if you own one. With the poor conditions of roads and bad traffic sense and growing impatience amongst commuters, the potential for accidents, breakdowns, etc., getting yourself insured is a must. Two-wheeler insurance ensures that the rider is protected from financial stresses (and the mental tension that arises from that) in the case of any unexpected events. Even if one is a very careful and reliable driver, it is important to get a comprehensive coverage from the insurance as there can be no guarantee for the driving of others, the condition of roads, and other unforeseen events.

Advantages of taking a two-wheeler insurance:

Insurance for two wheelers gives the owner much needed protection from the liability that is likely to be incurred financially in the event of any damage, theft, or any damage, disability, or death caused by the owner’s own vehicle to a third party.

A third party two wheeler insurance clause is a smart thing to have included in the plan as it covers any liability legally that arises out of death or injury of a third party or damage to the property of the third party due to the insurance owner’s vehicle.

In case there are heavy repairs to be done or even if the vehicle gets stolen, having an insurance policy ensures that you don’t have to take upon yourself the financial burden caused by this. Having a two wheeler insurance also offers cashless settlement for any repairs at select workshops.

An insurancefor two wheeler vehicles, whether a bike or a scooter, is also made mandatory by law. This always has to be carried when riding the vehicle. If there have been no events that have mandated any claim to be made, this will be adjusted against the next premium on the policy under the NCB, or No Claim Bonus. So paying the premium regularly offers peace of mind as well as a financial reward even if nothing happens and there is no need to claim anything, making the insurance well worth the amount money paid for the premium.

Ways to reduce the premium paid on the insurance:

A regularly serviced bike often gets a rebate from reputed insurance companies. Insurance companies also give a reduction in premium if an anti-theft alarm is installed, which not only gives peace of mind to the rider emotionally but also pays off as an investment financially in the long run when premiums for insurance gets reduced on account of this. Another way to reduce the premium is by taking all your required insurance policies from the same insurance company.

How premium is calculated:

Premium to be paid on the vehicle, is calculated based on a variety of factors, such as the zone under which the vehicle was registered, the age of the vehicle, IDV of the vehicle, and cubic capacity of the vehicle.

Though getting insurance is mandatory, it also makes sense and gives peace of mind over the long term.
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