What Is Bike Insurance?

This agreement between the bike owner and the insurance company promises to cover any financial liabilities that may arise from an accident involving their two-wheeler, which is why it is called two-wheeler insurance in chandigarh. Motorcycle, scooter, scooty, and moped insurance policies all cover all types of two-wheelers. Third-party insurance, standalone own-damage (OD), and comprehensive two-wheeler insurance are the three options available in India for two-wheeler insurance. These insurance plans can be identified by the scope of protection they offer.

Different Types of Bike Insurance

Insurance for Your Motorcycle That Covers Everything

All of your financial responsibilities to a third party and the costs associated with owning a damaged bike can be covered by a comprehensive bicycle insurance policy. An accident, fire, theft, man-made disasters and natural calamities, as well as self-ignition and explosion are covered by this policy. For an additional fee, you can also buy add-ons such as zero depreciation, roadside assistance and engine protection.

Third Party Bike Insurance

In order to ride a motorcycle in India, you must have third-party bike insurance. It’s also known as a “liability-only” policy, and it protects the insured in the event of an accident or mishap involving the insured’s motorcycle, providing coverage for bodily injury, temporary or permanent disability, and death to third parties. Third-party property damage up to Rs. 1 Lakh is also covered by this motorcycle or scooter insurance policy. But the insured’s bike or the insured person are not covered.

Own-Damage Bike Insurance

This policy provides coverage for the insured bike’s own-damage caused by an accident, theft, fire, natural disaster or man-made calamity, as long as the incident occurred while the bike was insured. A stand-alone own-damage policy gives policyholders the freedom to pick and choose their own insurance provider. Insuring against third-party liability as well as your own property damage is possible through the same company or through a different company. By purchasing additional coverage, an insured person can increase the scope of their own-damage insurance policy.

How to Choose Two Wheeler Insurance Policy?

An insurance policy for a two-wheeled vehicle must be researched thoroughly. Consider your needs carefully and shop around for multiple two-wheeler insurance policies before settling on the best one. Here are a few things to keep in mind when shopping for a two-wheeler insurance policy:

The first step is to figure out what kind of coverage you need for your two-wheeler and how much money you have to spend on it. To determine your needs, you must take into account a variety of factors, such as the amount of time you spend on your two-wheeler, the amount of money you spend on it, and your other financial obligations.

Choose Add-ons Add-on covers are a great way to expand your two-wheeler insurance policy’s coverage. In exchange for a higher premium, you can add an additional two-wheeler insurance policy to your current policy. Zero depreciation cover, personal accident coverage for pillion riders, and towing coverage are all common add-ons in two-wheeler insurance.

If you’re looking for a trustworthy two-wheeler insurance company online, it’s essential to check the company’s claim settlement ratio. There is no need to worry about the claim being settled because of this.

Insuring a two-wheeler has never been easier. Compare two-wheeler insurance policies online to ensure that you get the best deal. The inclusions, exclusions, premiums, and so on, of various plans can be compared.

Read Online Reviews – This is a great way to learn more about a product or You can get an idea of whether or not a two-wheeler insurance policy is right for you by reading online reviews from actual customers who have purchased one. Therefore, you should read both positive and negative reviews online in order to make an informed decision.

Key Highlights of Two Wheeler Insurance Policy In Chandigarh.

Coverage Provided Own Damage Coverage

In the event of an accident with one’s own bike, the insurance will cover the cost of repairs.

cover by a third party

In the event of an accident that results in the death, disability, or destruction of a third party’s property, the policy provides compensation for the resulting damages.

Accidental Death and Dismemberment Insurance

Sum paid in the event of a death or disability as a result of a mishap

Add-ons

Additional benefits can be purchased by paying a higher premium, which provides additional coverage. NCB protection cover, return to invoice, engine cover, and other add-ons are available.

No-Claim Bonus (NCB)

You can get a discount on next year’s premium if you don’t file a claim this year. The NCB will increase by 20% to 50% for every claim-free year that you go without a claim for up to five consecutive years.

Benefits of Buying A Two Wheeler Insurance Policy

It is necessary to renew two-wheeler insurance on a regular basis; it is not a one-time task. If you don’t renew your policy on time, your two-wheeler insurance policy will lapse and become void, making it illegal. When your two-wheeler insurance policy expires, you won’t be able to claim any benefits. Renewing a two-wheeler insurance policy online offers the following advantages:

Because there is no agent involved, there is no influence of any kind when purchasing or renewing two-wheeler insurance policies online. You are free to select the most appropriate two-wheeler insurance plan that meets your needs and budget.

Easy to Compare Plan Options Online – Two-wheeler insurance plans can be compared in terms of features, inclusions, and exclusions by purchasing or renewing online. This helps you determine which plan is best suited to your needs and helps you make an educated choice.

Online insurance policy renewal is the most convenient way to keep your two-wheeler covered. Two-wheel insurance policies can be renewed at any time of day or night, from the comfort of your own home. You can save time and paperwork by renewing your two-wheeler insurance policy at the same time.

Buying two insurance policies directly from the company saves you money because the insurance broker or agent will not charge you a fee. In the event of a problem, you can contact the insurance company’s customer service department and have your concerns addressed.

It is possible to pay premiums for two-wheeler insurance plans online using a secure payment gateway. You can choose from a variety of payment options when it comes to premiums. These include debit, credit, and electronic wallets.