Tuesday, 27 October 2015
Why Do You Invest In A Two Wheeler Insurance Policy?
Bike insurance or two-wheeler insurance has an important role to play in the lives of bikers. It pays off in the wake of a crisis by offering financial support. Read on to know more about two-wheeler insurance and why it's so important. Two Wheeler are the most useful motor vehicle: Two wheeler are a very useful motor vehicle one can posses to travel to anywhere quickly without wasting time. Bikes are one of the fastest modes of transport and are available to a wide range of audiences from the mid income groups to high value people. However, along with bikes, there come a number of risks which should also be minimized. These risks can be dangerous and also unexpected. So what does one do if such an unexpected event hits them and leaves them helpless? There are various after effects which can be catastrophic financially and leave an individual helplessly in deep crisis. So how to stay protected from such risks? Bikes are after all more reasonable than cars and a very useful personal vehicle. Here is the solution: Two wheeler insurance is one of the most popular and useful financial protection one can have when an emergency situation arises. Many insurance companies and banks provide a comprehensive two wheeler insurance coverage plan for two wheeler motor vehicles. Here are some of the areas which they generally cover: Any loss or damage caused to the vehicle due to the following natural and man-made calamities: Sometimes natural calamities like fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, can cause catastrophic damages. Also manmade calamities like burglary, theft, riot, strike, malicious act or even accidents by any external means can be very damaging. Motor insurance policy also provides a compulsory personal accident cover of at least a lakh for individual owner of the vehicle. They are always insured while traveling in, mounting or dismounting the vehicle. There are many legal liabilities when it involves a third party. But insurance policy ensures that bikes are protected against legal liability arising due to accidental damages, any permanent injury or death of a person and any damage caused to the property. A two wheeler insurance is a necessity for any bike rider as it's one of the best financial security they can have when involved in an accident. It provides the cushion of avoiding the extra expenses for two wheeler repair services and other necessary damage costs like third party expenses. The Benefits: A two wheeler insurance policy ensures the maximum number of benefits which one can ever wish for. Here are some of the benefits for two wheeler insurance: Insurers can claim facility at cashless garage networks located across the country. If no claim is made during the policy period, a No Claim Bonus (NCB) is offered on renewals. Sometimes the discount rate for NCB can be as high as fifty percent. It's very easy to transfer full benefits of No Claim Bonus of motor insurance policy from one insurance company to another. The discount rates for the individual account in the new company remains the same as it was in the old company. This can happen only if evidence is shown which makes an individual eligible for No Claim Bonus from previous motor insurance. So apply for bike insurance and avail the aforesaid benefits. They are very important benefits which can be a secured back up at the time of emergency. Bike insurance companies often tie up with two wheeler companies to ensure that riders don't evade the road risks which can hit them from anywhere. Two wheeler insurance is one of the best safeguards against extra financial burden incurred during times of emergency. Source from: http://goarticles.com/article/Why-Do-You-Invest-In-A-Two-Wheeler-Insurance-Policy/9342066/