In this fast-paced life, everyone is busy saving time and money. So, searching for the best two-wheeler insurance renewal plan is a very challenging task for every two-wheeler owner. The online insurance market is full of multiple misleading policies. These insurance policies have high premiums yet customers are not completely satisfied with the facilities provided. If once you have faced some difficulty in your insurance plan then you will surely not go for the same plan for next time.
You can purchase a two-wheeler insurance renewal either online or from a third party or broker. Brokers work on a chargeable basis and they will take extra charges for providing its services apart from the premium amount. So, you should know that online purchasing of an insurance plan is the best to save a handful of money.
Reasons to purchase a two-wheeler insurance renewal policy online:
There are lots of positive reasons to purchase two-wheeler insurance online. But there are 5 main reasons that must be helpful and encourage you to purchase it online.
Save time: The whole process of buying an online insurance plan will take not more than half an hour including form submission and completing the payment. By purchasing bike insurance online, you will get saved from the hassle of searching for different insurance companies.
Convenient to buy:
As we all know that the internet and online market has the power to reach the customer within some clicks. So, It is truly a convenient and easy way to purchase a two-wheeler insurance plan online. You don’t have to visit multiple companies in order to search for a suitable plan that justifies your needs and does not become a financial burden to you.
You can compare the various plans provided by different insurance companies. The entire process of comparison will be possible under the comfort of your home.
Asking a broker to purchase a suitable plan will cost you more than purchasing it online. You will choose the insurance plan according to your necessity and uncheck those facilities that are not required. This will also help you to lower your premium of two-wheeler insurance renewal.
The entire process will be completed online and you don’t have to carry hard copies for the claiming process. Also, e-documents will be sent to your mail id and you can keep it safe there.
What types of damages are included in a two-wheeler insurance policy?
If you are planning to purchase two-wheeler insurance online or want to renew your policy then you must know about the coverage details. The coverage details will help you to take the maximum benefit of an insurance plan while claiming. A good insurance plan must cover accidental damage, medical expenses of the injured person, and physical damage caused to the property. There are several other benefits that are optional while purchasing an insurance plan.
Personal Injury Protection:
If a person with insurance meets with an accident and is partially or completely disable, then he can claim up to 15 lakh rupees for personal expenses. This coverage only includes the bodily damage of the vehicle owner. So, you can opt for extra coverage of your co-passenger if you are buying it online. This cover applies when you are traveling, mounting, or dismounting from the insured vehicle.
Third-party liability Protection:
It compensates for the third party damage that is due to the accident of your vehicle. Third-party liability will also provide financial support in case of the insurance holder demise in an accident.
This will provide a compensation amount to the insurance holder if the vehicle steals. However, you can except this coverage if you are using the latest safety measures with your vehicle. Installing a GPS tracker, locking the bike properly, and keeping it in a garage or safe location will protect your bike from getting stolen.
Fire and explosion Protection:
If your bike is old and has an engine heating problem then you must opt for this coverage. This coverage will reimburse the cost of your bike in case of fire, explosion or any ignition hazard
Natural or manmade calamities:
Any loss due to landslide, earthquake, flood or cyclones includes in natural calamities protection. Suppose you are living in a hilly area that is highly prone to landslides, or near the sea that is likely to flood. Then you can choose for this protection while two-wheeler insurance renewal.
You can also take protection for the unpredicted manmade calamities such as terror attacks, riots, and theft. Further, you can also neglect this if you want to lower the premium rates.
Exclusions in a two-wheeler insurance policy:
- Damaged caused due to wear and tear.
- The damage due to war and nuclear weapons is not covered under the insurance policy.
- The damage caused in the tire tube due to the running of the vehicle will not be considered.
- Accidents due to driving under the influence of alcohol and drugs are not covered under any insurance policy.
- Accidents due to over speeding are strictly unconsidered under the policy.
- It is important to have a driving license of the driver or the bike owner to make a claim for two-wheeler insurance. Apart from this, the driver must have all the safety equipment such as helmet and shoes.
These are some basic coverage that is essential if you are driving your bike on the road. However, you can choose the coverage according to your requirement and financial sources. You can also opt-out of the coverages that are not mandatory for your bike and save a little more in the premium. Make sure to compare all the two-wheeler insurance policies side by side before renewing it.