Maintaining your two-wheelers is very essential nowadays. People purchase two-wheelers after paying thousands of rupees, therefore, it is essential to get two-wheeler insurance to ensure a safe and secure ride. This will also help to get a return for the damage to the two-wheelers in case of any unfortunate accident.
Therefore, it is a must to have two-wheeler insurance to secure the life of your vehicle.
Now we will discuss more the two-wheeler insurance and other features of it. We will also discuss the plans which are being provided by different companies.
Features of Two Wheeler Insurance
- The companies are providing covers up to Rs. 1, 00,000 in case of an unfortunate accident.
- These plans are also providing cover from stolen two-wheelers.
- Even different companies are offering different discounts on the premiums.
- You will get a pre-negotiate premium from the company to start with your insurance.
All about personal accident insurance
Best Way To Choose Two Wheeler Insurance?
- There are 10+ two-wheeler insurance companies are providing best services for the customers.
- But one has to choose the one which is trustworthy and reliable.
- You can compare the type of insurance companies are providing.
- The premium to be paid and the cover is given for that must relate with each other.
- Check the reviews through online mode to know about customer satisfaction.
- Also, check for the loyalty of the insurance company.
- Never forget to go through the terms and conditions along with the exclusions.
- We are here to provide the best information about the insurance companies with their most effective deals.
- Even nowadays you can easily purchase any of the insurance from online mode and you do not need to visit physically to the offices.
- One can compare the different plans through these online sites very easily.
A Simple Definition of Two Wheeler Insurance Plan
The two-wheeler insurance plan was started in India by the launching of the motor vehicles act, 1988. IRDA which is regulating all the motor insurance products after getting directions from the Supreme Court of India has made it mandatory to have two-wheeler insurance.
Any vehicle running on the road without having the insurance policy papers along with them is liable to pay the fine along with that it is also important for the safety of the vehicle.A
Therefore, having a two-wheeler insurance plan is mandatory.
Basic types of two-wheeler insurance are given below
Majorly two-wheeler insurance policies are divided into two categories:
- Liability covers which means any third party liability insurance policy.
- Package insurance policy or comprehensive insurance policy.
Now we will discuss both in brief below
- Liability cover which means any third party liability insurance policy.
- The third-party liability insurance policy is mandatory in India to run any two-wheelers on the road.
- This type of policy covers only third-party damage or loss to the insured vehicle by the Insurance Company
- But the companies are not providing personal accidental cover in case of an accident to the owner of the vehicle.
- The insurance has to be renewed every 5 years.
- Package insurance policy or comprehensive insurance policy.
- This kind of plan is giving an add-on to the insurance holders.
- As in these policies, financial assistance will be provided for any kind of damage to the vehicle along with that it also assists in the case of unsecured vehicles.
- That is you do not need to worry if your vehicle gets stolen as this plan will cover the theft part too and you will get the cover on stolen vehicles easily.
- Even the coverage is given to the owner of the vehicle in case of an accident.
Compare Before Choosing Any Policy
Before opting for any of the two-wheeler insurance policy just compare all the plans given by different companies. You need to compare all the plans based on a few things which are given above.
- The foremost thing you have to see is the type of insurance plan being provided that is third party liability or comprehensive.
- Also, compare the declared value of the insurance that is IDV.
- The add-ons are also being provided on different types of policy compare to those also.
- You can compare all the premiums from different websites present over the internet.
Is it necessary to renew two wheeler insurance online in India?
Yes, it is necessary to renew your insurance plan of two-wheelers as it is mandatory to have an insurance plan for all the vehicles running on the road in India. Therefore avoid any unnecessary conditions by purchasing two-wheeler insurance.
Benefits of having a renewed insurance policy
- When you get your two-wheeler insurance renewal there is no need to recheck or re-inspection of the two-wheeler.
- You do not need to fill all the paperwork again.
- Also, you will get full assistance from the side of the company at the time of the claim.
Two ways to get renewal of two-wheeler insurance policy
There are two ways by which one can get the renewal. Those two cases are:
- Active policy renewal plan.
- Expired policy renewal plan.
In both cases, the policyholder has to contact the insurance personnel to know the procedure for the same. Every insurance company is providing a different procedure for the renewal of the insurance policy hence you need to contact the company and have to follow the procedure.
One can also do these things through online mode very easily and can get their documents on their doorstep.
Different Insurance Companies & Their Plans
Now after knowing about all the factors related to the two-wheeler insurance policy now, we will discuss the best insurance companies.
|Bajaj Allianz||Third-party damage along with personal damage cover.||Fast claim procedure, Best assistance, Add-ons are also available.|
|HDFC Ergo||Zero depreciation and emergency assistance along with basic cover opted for.||Transparent two-wheeler services in cost-effective rates.|
|National two-wheeler insurance plan||Liability, package, stolen, fire coverage.||Assistance for any kind of loss to the vehicle.|
|ACKO Insurance Policy||Fire, Calamities, Third-part, Vehicle owner, Theft all are covered.||Convenient to opt, easy to get a claim and best offers.|
Two Wheeler Premiums
- Get the premium amount of the two-wheeler you need pay after submitting a few details to the insurance company from which you are taking the insurance.
- The details are- number of the vehicle, the model and the registration center.
- Once you fill all the details of the policy on the official website of the insurer you will get all the details of the policy and its premium you need to pay.
- Different insurance companies are providing different premiums hence you have to check separately for all.
- To know the premium you have to select that which covers you want to opt for comprehensive or liability. As the premium for both the covers will be different.
Now we have discussed all the plans provided by the best insurance providers. We have also gone through the premium calculating method and the renewal procedure of the two-wheeler insurance policy. Now, one can easily choose the best plan according to their convenience and need.