Sunday, December 4, 2022
HomeFinance BlogsInsuranceTwo Wheeler Insurance

Two Wheeler Insurance

What is Two Wheeler Insurance?

Two-wheeler insurance is the safety plan that protects the owner of the two-wheeler from any liability to the third party that arises due to the usage of two-wheelers. Two-wheeler insurance is a contract in which third party bike insurance is mandatory to every person that has owns two-wheelers under the motor vehicle act 1988, two-wheeler bike insurance in India helps you to cover your financially when you meet an accident it also minimizes the risks that may happen due to the liabilities of the third party or due to natural calamities and also due to the personal accident as well.

Why do you need a bike insurance policy?

The Indian law does not permit anyone to drive your bike without insurance. Two-wheeler insurance is mandatory in India and it is proven to be very beneficial as well for the economy and it is one of the most convenient modes of transportation in India. Two-wheeler bike insurance in India is required to reduce many risks that generate road accidents, in general, some of the following benefits and facts that you can get from your bike insurance in 2021 are mentioned below.

  • Coverage from man-made disaster

There are many man-made disasters such as robbery, theft, strike, riot, damage in the transit by some terrorist activity, lift or elevator, and rail is covered under the coverage of bike Insurance in 2021 claim from man-made disasters.

  • Natural calamity coverage

Floods and earthquakes are frequent but still, they are something that your two-wheeler insurance policy can cover if you become a victim to any uncertainty then the life insurance cover can always seek a claim for the damages under the bike insurance policy.

  • Financial cover

Any accident that occurs can create damage and loss to the life of the people and the vehicle as well. accompanying the financial coverage of the two-wheeler insurance policy provides a safety net to the policyholder. If you meet any damages in an accident then it will not break you financially.

  • Third-party coverage

The third-party coverage is also called “and only insurance”.  everyone must have two-wheeler insurance in India. The two-wheeler insurance cover enriches the two-wheeler insurance firm to cover all the damages to the third party and the bike and its owner are still protected from the legal application towards the third party.

  • Mandatory by law

The law of India is a Prime leading authority that can abide by bike regulations in citizens of India. However, the two-wheeler insurance policy is a mandatory aspect of Indian law and under the Motor Vehicle Act, the owner of every vehicle has to have at least a third party or two-wheeler insurance cover.

  • Personal coverage

 The bike insurance in 2021 also covers the company’s fate and owner in case of any injury due to the accident of the bike. The person can give their own money and amount of bike insurance that he can claim under different circumstances.

Documents Required for Bike Insurance Online

The person needs some important documentation as a record based on online bike insurance. Some of the documents that are needed while availing of the insurance online are listed below.

  • Registration certificate of the bike
  • Identity proof such as voter ID ration card passport and driving license
  • All policy numbers of NCB if any
  • Registration certificate of the bike.

What is covered in online insurance for Two-Wheelers?

There are plenty of things that are covered in the best online insurance for two-wheelers while some of them are listed below.

  • We provide the best Two-wheeler insurance coverage against man-made causes such as burglary, theft, accidental or external damage, and more.
  • Our Online bike insurance policy also provides the best coverage against natural calamities such as floods, earthquakes, lightning, landslide, and more.
  • We provide zero depreciation cover to every client.
  • There is 24*7 roadside assistance coverage in our two-wheeler insurance.
  • More than 5000+ garages are working with our two-wheeler bike insurance in India to provide you hassle-free services anywhere and anytime at the time of need.
  • We offer you the coverage of CNG or LPG fuel kit in our bike insurance in 2021.

Why buy online bike insurance?

There is plenty of reason to buy online insurance for two-wheeler as it saves a lot of your time while working and help you to avail and compare the other online bike insurance cover to the best one so that you can buy the top two-wheeler insurance in India. However, here are some of the Other benefits that you can get while buying online insurance for a two-wheeler.

  • Helps you to save money

If you want to save some money while buying the best two-wheeler insurance, then you must opt for online bike insurance cover to save your money as whenever you visit online to purchase any top online insurance for two-wheeler then many websites will provide you to save overhead and therefore, these savings help you in the form of discount and premium rate.

  • You can buy as per your requirement

If you go for buying online bike insurance then you can easily increase or decrease your IDV and can also choose the add-ons as per your requirement. Moreover, you can even find-tune the other elements while choosing your best bike insurance policy and in this way, you can tailor the coverage of your online bike insurance as per your need.

  • No Physical paperwork

Looking to buy the best online bike insurance? you should know that you don’t want to perform any kind of physical paperwork in the whole process. The thing that is needed is just to type your details online and then select the plan that you find the best for your two-wheeler insurance and in this way you can send all the documents to the company of the bike insurance policy online via Email.  you should remember that you must keep the soft copy of your documents with you for your strong backup.

  • Get the policy within a minute

Do you know that every online bike insurance cover online and its payment will be immediately emailed to you on your registered email id? You just need to download it from your mailbox and then make some copies of these documents; however you can even send it directly from your mailbox to the digi locker to make sure that you have all your legal documents with you all the time you need.

  • Purchase at your Convenience

If you don’t want to spend any long working hours while standing in any branch of the insurance Bank or Insurance office then buying the online bike insurance cover will be the best option for you as there will be no limits for the timing and you are all free to purchase any plan you require anywhere and anytime.

Types of Bike Insurance

Here are some type of bike insurance:

  • Comprehensive bike insurance

The comprehensive bike insurance policy provides you complete coverage with paying all your financial liabilities that may incur towards a third party. It also provides you the compensation for any expenses that arise due to own damages that are sustained through your bike. The comprehensive bike insurance policy also Shields your two-wheeler against any damages such as its stain due to a fire accident, man-made disaster, natural calamities, trapped explosion, self-ignition, and many more. In addition, you can even enhance the coverage of the comprehensive bike insurance policy by paying an additional premium while purchasing add-on covers such as roadside assistance cover, depreciation cover, engine cover, etc.

  • Third-party bike insurance

A third-party bike insurance plan is a compulsory requirement to ride a bike in India. It is commonly known as a liability-only policy that covers bodily injuries, permanent and Temporary disability, even the death of a third party person due to a road accident or any mishap with the involvement of the insurance company. In this insurance, the company also covers the property damage expensive testing method up to INR 100000 but it does not cover other damages that are included by the bike insurance order insured person.

  • Own damage bike insurance

The standalone own-damage bike insurance policy provides you the best coverage for the own-damage by the insured bike due to any reason such as trapped accident, natural or manmade disaster, fire, or any other climate. The own-damage bike insurance also provides flexibility to the policyholder for choosing this Insurance Company. Besides this, the policyholder of the own-damage policy and third party policy is either from the different insurance for the same one. This company can expand the coverage of its damage insurance policy with its add-on covers.

Steps to buying bike insurance online

Are you new to buying online bike insurance? don’t worry we will help you you just need to follow some simple steps and congratulations you are approved for your online bike insurance.

  • Understand what your need

There are many two-wheeler insurance coverages available online and offline so first, it is very important to understand which plan is best suited for you and your two-wheeler. if you are looking for affordability then you must go for the third party plan. whereas,  if you are requiring protection then you must choose the comprehensive policy for your two-wheeler. However, you must also lookup for the add-ons in your two-wheeler insurance cover to increase the coverage and make it more secure.

  • Get instant quotes

You need to provide some basic information about you and your bike so that the company can calculate the approximate average that what you exactly require and this will happen with an instant quote so you just need to add to your IDV and we include an add-on that you require and then you can make numeric added to the quotation until you’re satisfied.

  • Fill in all the detail and make the payments

Once you are all done with the quotation that you require then you just need to proceed further to buy the best two-wheeler bike insurance in India and to do so you will have to provide a few more details about yourself and your bike and then you have to make payment to complete the best online bike insurance plan.

  • Get all your policy document

After completing the process and making payment of your bike insurance cover the document of your insurance policy will be mailed to you by the company within seconds to assure you that your bike is officially insured now enhance you’re all done with your best online bike insurance.

Why choose our company for your bike insurance cover

Then there are plenty of benefits to choosing a company for your bike insurance cover some of them are mentioned below.

  • Bike insurance in just 5 minutes

our company will issue your bike insurance within 5 minutes with a swift simple and paperless process.

  • 7 days dedicated customer support

We provide the best and dedicated customer support team that is always available at your service every day you can easily reach the mouth for any insurance-related assistance that is related to the policy purchase or other claim settlement. We are always here to help you.

  • Over 5 lakh happy customers

The company is a reputed firm and the best choice for every insurance customer. We provide the quick process with a top-rated insurance plan and committed customer care staff that we easily manage to get all the love and support from our customers till now.

  • Protective against third party liabilities

Our company of online bike insurance provides cover for all the financial liabilities that you may incur towards the third party such as disability body, injuries that and even property damage. We provide the best coverage for property damage that is limited up to INR 100000.

  • Protection against own-damages

Our bike insurance plan covers complete protection against own-damages expenses for your two-wheeler that may incur fire, accident, natural or manmade disaster, theft, and many more such insurance policy helps you to provide under the standalone own-damages plan and comprehensive bike insurance plans.

  • Provide personal accident cover

The company also includes a personal accident cover of up to INR rupees 15 lacs that is included in your online bike insurance plan to cover all the bodily injuries, disability, or death of the policyholder.

  • Coverage against theft

The best two-wheeler insurance plan provides you with complete protection and coverage even if your two-wheeler gets stolen somehow. In such cases, a company will provide you Insured Declared Value (IDV) of your bike that will be equal to the market price at the time you purchase your bi policy.

Two Wheeler Insurance – FAQs

Q1. What do you mean by the two-wheeler insurance policy?
Ans. A Two-wheeler insurance policy is an agreement between the policyholder and the insurance company wherein the insurance provider has to promise they will provide complete coverage to the two-wheeler against any loss or damages that are sustained by the insured bike due to several factors such as theft, accident, fire, man-made and natural calamities and more based on the opted policy. In many cases, there will be a contract between an insurer and insured person of which should be renewed every year by the policy-holder.

Q2. Why should I buy a bike insurance policy?
Ans. The two-wheeler insurance policy is mandatory in India no matter which bike you are on you need to comply with some loss to ride it on roads. The bike insurance policy is the most important rule to drive you to below as you need to adhere to the legal requirement of carrying at least a third-party insurance cover. On the other hand bike insurance policy also covers your financial liabilities that may encourage a third party or for damages that are sustained by a bi due to an accident or unfortunate events.

Q3. What will happen if my bike insurance policy expires?
Ans. Every two-wheeler insurance policy has made the date of expiry before which you have to renew it and continue to avail at in the future however if you fail to renew the policy on the required time then you still can renew it within the 90 day grace period from its expiry date but it cannot be renewed after that and then you will have not any option but just have to buy a new policy in that case.

Marketvein Staff
Marketvein Staffhttps://www.marketvein.com/
Born libra, likes to lead from the front. Digital Marketing & Technology is his strength. He has pursued engineering. Travelling to new places & writing is his idea of fun. In his free time (if he gets some that is), he is seen donning the chef's hat at home.
- Advertisment -Hire SEO Expert in India

Best insurance Articles Curated For You

Must Read

Automation Through Hotel Reservation Software Helps Increase Staff Productivity

Automation Through Hotel Reservation Software Helps Increase Staff Productivity

0
Managing a profitable hotel business is not an easy task. Ask any hotel manager and they will tell you that rising customer expectations and...
Masters in Singapore

Masters in Singapore

Types Of Investments In India

Types Of Investments In India

More Insurance Articles

LIC Jeevan Akshay VII Plans : Details, Benefits & Eligibility Criteria

0
LIC Jeevan Akshay VII is a non-linked single premium annuity plan which offers lifelong income after the policy term. This plan provides an immediate...

Mutual Fund Articles

7 Easy Quantitative Tools To Select The Best Mutual Fund

7 Easy Quantitative Tools To Select The Best Mutual Fund

0
You see mutual fund advertisements everywhere. It showcases that it is fairly easy to invest and earn a lot just from that. However, every...

Investment Articles

Why Crypto Should Be Included in Your Investment Portfolio

Why Crypto Should Be Included in Your Investment Portfolio

0
As of 2022, the global blockchain market value is $10 billion. There are over 20,000 cryptocurrencies in circulation and hundreds of thousands of daily...