India is considered as the largest market for production and sales of two wheelers. According to the statistics more than 20 million two wheelers were sold to customers in India itself from 2011 to 2017. Scooters and motor bikes are the most hot selling categories. In urban areas the sales are generally high as compared to the rural areas. It makes sense in opting for a two wheeler than four wheeler given the traffic conditions. Two wheeler has become an intrinsic part of ones life. This is the most affordable and convenient mode of transportation. Opting for a two wheeler also reduces traffic congestion. The priority of keeping it safe and insured should also be on top of your list. You need to do a lot of research and planning while going in for a particular policy. Do read the terms and conditions carefully. Compare the offers available online. Compare policy premiums that are affordable and offer maximum benefit. Many people fall prey to the Insurance policies that doesn’t give enough coverage in case of any mishap. A background check is essential.
The number of two wheelers on the roads are increasing day by day. Thus, increasing the traffic and causing accidents.
While some succeed in replacing the missing pieces some run for the insurance companies to compensate for their loss. While claiming for an insurance consumers come to know where they have gone wrong. Many of them tend to skip certain rules and regulations which are of utmost importance while opting an Two Wheeler Insurance Policy. Even after paying the premiums regularly one fails to comprehend where they are at fault. The consequences often put customers in jeopardy while registering a claim. Recheck if you have opted for the policy only by deciding if its cheaper. Then these policies don’t offer maximum coverage against the losses.
Bike theft cases have risen exponentially. Stealing a bike is much simpler than stealing a car. The recovery margin is very less as compared to that if car. If, you have a comprehensive insurance policy which give you cover against your two wheeler loss. You are sorted. This coverage offers personal accidental cover for the owner in case of an accident. Some insurers pay an amount equal to the monetary value of the bike. For this you need to follow proper steps like registering an FIR, informing RTO and providing valid documents to make a claim.
The Insurance Regulatory and Development Authority(IRDA) have introduced a Third Party Insurance Cover for two wheelers. The Third Party Bike Insurance is compulsory as per the Indian Motor Vehicle Act. This means the damage done by the insured’s vehicle to another person or property is covered by the Third Party Insurance. If the customer has made no claims in the past or zero claims he is liable to have subsidized premiums and benefits. The premium rates of every third party insurance is set by IRDA. If you go in a long term Insurance your two wheeler is insured for a 3 years at a stretch. This benefits in return with long term discounts and the premium rates come down considerably.
If you plan to keep safe your vehicle you got to do it by finalizing an appropriate policy suiting your needs.
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