My neighbour Jay has been a bike freak since the time he was a teenager. Over-confident on his riding skills, he almost rode his prized possession right from the lanes of Mangalore to the crazy traffic of Mumbai. But, when it came discipline of buying a bike insurance policy, Jay was too lackadaisical. He cared a damn about the significance to it and so never renewed his two wheeler insurance on time.
But, was this wise on his part to just forget renewing his bike insurance conveniently?
Weren’t he exposed to any sort of risks associated of not buying a bike insurance on time? Read on to know more.
Mentioned here are some of the risks that are associated with not buying bike insurance:
Buying two wheeler insurance has other advantages too. They are:
Covers all the costs: Your two wheeler insurance offers coverage for an accident as well as theft.To be specific, if are found guilty in an accident with a third party, the expenses to incur the damages of the third party would be borne by you. As a result you would have to bear the high financial liability.
Prevents fines and penalties: Indian law mandates you to buy a two wheeler insurance for any vehicle plying on the Indian roads. Therefore, if the traffic cops catch you for riding minus a valid two wheeler insurance cover, be ready to pay a hefty fine. There are chances that you might be arrested if you are found guilty in a road accident. A valid bike insurance plan in place would otherwise take away all your hassles and won’t be a financial liability.
Easily available: Two wheeler insurance policies are widely and conveniently available in the Indian markets. And because there is a plethora of bike insurance plans, you can easily compare two wheeler insurance plans online and narrow down your search on the best policy ever. Besides, the rate of the premiums too would be affordable if ‘comparison’ is the key you followed.
Mentioned below are the drawbacks of not buying/renewing a bike insurance policy on time:
A personal accident cover is a type of insurance cover that offers protection to the rider. Know about Personal accident cover benefits and exclusions.
Bike insurance is mandatory in india. Opting for the right bike insurance poicy has a lot of advantages. Here are 6 Silly mistakes to avoid while buying a bike insurance.
Third Party Bike Insurance - Long term third party two wheeler insurance policy is a type of motor insurance for two wheelers. Know all about Long Term Third Party Two Wheeler Insurance.
If you are renewing your two wheeler insurance annually it can benefit you in many ways. Read the benefits of Two Wheeler Insurance Renewal
Buying Two wheeler insurance? Choose the right two wheeler insurance.And Compare policy premiums that are affordable and offer maximum benefit.
Planning to buy two-wheeler insurance policy? Know how you can compare your 2 wheeler insurance and finalize on one plan suitable as per your requirement and buy online.