Keep Your Bike Safe with Best Two Wheeler Insurance Policy

In India, there are a large number of two wheeler owners plying on the road. The two wheelers are the best and most economical way to commute to small distances. It is a big responsibility to own a two wheeler. Your two-wheeler can face any misfortune at any point. It may get stolen, destroyed in a cyclone or flood, or it can be damaged in an accident. In such cases of damage to your two-wheeler, you need to be prepared with two wheeler insurance. Having insurance will help you in covering any damage done to your two wheelers and additionally, it is illegal to ride a two wheeler in India without a valid insurance.

There are mainly two types of two wheeler insurance offered y different companies that are:

Comprehensive Policy: A comprehensive insurance policy for your two-wheeler covers the damage done to your bike due to an accident, theft or a natural calamity. In addition to that, the insurance policy also covers the life of the occupant. The comprehensive policy also covers the damages done to the life or property of a third party involved in an accident due to your two wheeler.

Third Party Insurance: The third party insurance policy covers only the damages done to the life and property of a third party involved in an accident to your bike. It does not cover any damages done to your bike or your. As this policy does not cover any damages to your bike, the premium of such policy is very much lower as compared to the comprehensive policy. Although it is advisable to go for the comprehensive policy only as it provides you complete cover from any sort of damage.

There are many different factors that may affect the amount of premium you pay for your 2 wheeler insurance.

IDV or Insured declared value: The insured declared value of your vehicle has a great impact on the premium amount of your insurance policy. The more IDV implies that premium of the policy will also be more. Although you have to pay a bit extra of premium yet it is advisable to buy a policy with maximum possible insured declared value.

Capacity of the engine: The capacity of the engine of your two-wheeler also has a great impact on the amount of premium that you have to pay for the insurance policy. As the capacity of the engine of the bike goes up, the amount of the premium also increases significantly.

In order to stay safe and tension free, it is mandatory for the two wheeler owners to buy a valid and proper insurance policy.

[Source: http://www.cherlloydbrasil.com/travel-insurance/keep-your-bike-safe-with-best-two-wheeler-insurance-policy/]

Why Should You Compare Two-Wheeler (Bike) Insurance Policies?

Compare Two Wheeler Insurance

If you are a bike rider, we need not even tell you how you should take care of your bike. We are sure you do everything in your means to keep it (her?) safe. What about insurance though?

The best attention that you can give your bike is by choosing the right two-wheeler insurance policy; and without having to visit the numerous insurance companies. The best way to manage is to compare two wheeler insurance online. With so many insurance companies offering so many policies, it could be quite a tedious task to choose the best insurance policy that fits your bill perfectly.

Go back to the time you decided to purchase your bike. Did you just go for the first bike you saw without checking any other options? We are sure you did everything you could to make the final choice. So when it comes to safeguarding your beloved bike, won’t you go for the best plan that doesn't cheat you? Find the best two wheeler insurance plan that covers a lot of ground at a relatively lower premium – the very definition of "value for money".

With so many options of bike insurance policies available, it only makes sense to weigh all of them to make sure that you get the best cover. Here’s a short list of things you should quickly compare while choosing the right two wheeler insurance.

1. The Insurance Company: Research the two wheeler insurance companies basis the best claim settlement ratio, a good standing with respect to deductibles, network garages for cashless servicing etc. You could compare premiums between companies, add and subtract features (add-ons) that you choose in addition to help you protect your bike. You could do the math yourself without having to worry about the hidden costs that you feel companies impose.
2. Discounts and Deductibles: With deductibles, you agree to pay a certain amount from your pocket and in return the company gives you a discount on your premium. And while this is an amazing trade-off, make sure that you don’t commit to a huge amount otherwise you barely avail the benefits of your insurance policy.
3. Premium and Coverage: While we never (never ever!) suggest you to go for a cheap premium, we would definitely suggest you to compare the coverage’s at the same premium by different two wheeler insurance companies. Go for a policy that is the closest to what you need.
4. Quality of customer service and responsiveness: If your insurance company is non-responsive, it is a direct recipe for frustration and rants on social media. It makes sense to compare companies with respect to these features. You can either read about them or simply ask around. But remember to use your discretion as well.

[Source: https://bikeinsuranceblog.wordpress.com/2016/04/19/why-should-you-compare-two-wheeler-bike-insurance-policies/]

Understanding Two Wheeler Insurance Made Easy

In India, it is mandatory to own insurance cover if you wish to run your dream machine on road. And if the vehicle is used without the cover, then you will have to pay hefty fine for breaking the law. Many Indians own two wheeler like mopeds, bikes etc. to commute daily and move quickly during snarling traffic. Just as you use it for your convenience you should also understand that it is important to protect your bike from any mishap. It is typical mentality of Indians that whatever covers we have for four wheeler the same thing implies to bikes as well. However, two wheeler covers are different from bike cover. 

The article explains on how bike insurance works and what the claim procedure is for it:

Bike cover generally depends on various factors like type of bike you own, CC, the cost of bike, driving skills, place of living and much more. It covers you against any loss or damage done to your vehicle against natural calamities such as Fire, Explosion, Self-ignition, Lightning, Earthquake, Flood, Typhoon, Hurricane, Storm, Tempest, Inundation, Cyclone, Hailstorm, Frost, Landslide, Rockslide. Your policy lasts a year after which you can either choose to continue with the same policy, else change the policy to the company of your choice, if you’re not satisfied with their services. Today, maximum insurance companies provide best and customized policies online via their websites. Customers can simply login to their computer, laptops or tabs, fill in the details and purchase policy instantly while on the go.

Whenever bike insurance is purchased it is surveyor who inspects every aspect of bike such as shape, size, CC, costs, driving license and after this a value is declared for insurance cover known as “Insured Declared Value” that will be offered at the time of claim. For bikes companies cover accidents, break down to rider and pillion injury as well as 3rd party claims.

A bike insurance cover will cover every metal and plastic part inclusive of the wheel rims and engine. Tyres are sometimes not covered as they come with their own individual warranty from manufacturer. If you get an insurance provider covering so well & good it will be for you. Other consumables like nut & bolts and grease is not included.  Also, if your bike has previous scratches and cracks while renewing or buying a new policy, it won’t be covered in the 2 Wheeler Insurance policy.

3rd party Coverage is mandatory cover for any bike. It is the insurance cover in case of mishap happens due to the fault of the insurance holder. The damage cause to the other person involved in the accident is referred to as third party. In such cover insurance company is liable to pay for the third party damage pertaining to property, health or life loss (compensation) as well. In simple words, you hit a person on road; insurance company will pay for the injuries caused to the person.

The claim procedure works in simple way as well. Whenever there is an accident or an incident you have to call the claims department of your insurance company and let them know about the incident. Investigators will then inspect the bike and after a thorough assessment gives his or her go ahead. The necessary action is taken such as either the company pays the money or the customer has to pay for the repairs while the bike insurance company later reimburses the customer for the damages. The amount reimbursed is never in whole and it covers about 80-90% of the total cost.