A two-wheeler bike insurance simply refers to the policy that is taken over to cover the damages that may occur to a motorcycle or a two-wheeler. It is caused due to accidents, theft, or natural disasters. The two-wheeler insurance cover offers protection against the third party liability that tends to arise from the injuries to one or another individual. In short bike insurance is an ideal solution to meet the financial costs & losses that may simply arise due to the damage caused to the motorcycle. It covers and protects the types of two-wheelers like scooters and motorcycles.
Brief on Bike Insurance
A bike insurance policy is a contract between the insurer and the bike owner. The responsible insurance company offers financial coverage against any loss or damage due to an accident. The Motor Vehicle Act 1988 clearly states that third party bike insurance is mandatory for all. The bike insurance covers you from any accidental injuries that are caused while driving a two-wheeler or a motorbike on the Indian roads. Buying or renewing two-wheeler insurance online is valid for up to 3 years within 30 seconds to avoid any sort of extra charge of Rs. 2000.
Top reasons to buy Two-wheeler Insurance Online
Many reasons encourage you to consider before you buy two-wheeler insurance online from any trusted company.
- Make sure that the two-wheeler policy you are going to buy is prompt and fast. It must be done online and all the services must be transparent and swift.
- There must not be any sort of extra pay or charges once you have finalized the policy. Make it very clear about the hidden costs in the process.
- There is no requirement of the previous two-wheeler policy to make the new one. If the insurance company is asking for it then question their act for a detailed interrogation. If your bike insurance policy hasn’t expired then you can show it and talk about it.
- The renewal procedure for the bike insurance is much easier and more important as you are moving in a two-wheeler. From the company’s website, it can be done with ease.
- The online inspection and documentation process are now done with ease. You do not have to go anywhere with any details.
How to renew the Bike Insurance policy?
If you are riding a two-wheeler then you know how important it is to renew an insurance policy. It offers you the freedom to navigate anyplace, anywhere at any time. Besides all the planning, what we keep forgetting is the renewal policy.
It’s more common than it looks like!
There is the hassle of renewing the bike insurance policy. You may forget the date, travel when the renewal is due, or may keep procrastinating from time to time. It is a way too mandatory to ride with a valid insurance policy. Thus, timely renewal is a must for you! No matter whatever excuse you give to delay the process, without valid insurance your bike can be caught anywhere, and is dangerous to deal with such a scenario.
What happens if the two-wheeler has lapsed?
Normally, if the two-wheeler insurance policy has lapsed for more than 90 days, in such condition you may lose out on your no claim bonus. It is the result of the higher pay of the premiums while purchasing the insurance again. You will be penalized for riding without any third-party liability coverage. This no longer financially supports you even if you face an accident.
In such a situation it is difficult to track down so many of the important dates for long-term two-wheeler insurance. You can get in touch with the insurance company offering 5 years and more terms for the Two-wheeler Policy package. This will help you to restore your policy, with documents, mix-ups and avoid the renewal hassle.
Choose long term two-wheeler Insurance Policy
In all the mid and short-term two-wheeler policies, we tend to miss out on the time of renewing the policy. This creates a loss in the long run. Your premium rates are fixed and consistent for the entire duration. The administrative cost will be saved as you will buy insurance in five years. The vehicle owners will keep the bikes for at least a long period which will be beneficial. The long-term policies are hassle-free and all you need is to be by your side as always.
How to claim for the two-wheeler Insurance online policy?
There are two simple ways of filling a two-wheeler insurance claim online for your two-wheeler insurer. You can either lodge a cashless claim or reimbursement claim with your insurer. It has two types of claim that is mentioned below;
- Cashless claim
In the cashless claim, the amount will be directly paid to the network garage where the repairs were effortlessly done. This facility can be availed if you get an insured vehicle repaired at one of the network garages of the insurer.
- Reimbursement claim
The reimbursement claims are registered if you get the repairs done at a garage. This may not be a part of the insurer’s list of approved garages. You will be required to pay repair expenses and later will have to file for the reimbursement with your insurer.
To conclude, the importance of the bike insurance policy is a very important and effective process. The useful steps of a two-wheeler insurance policy must be followed with ease. You can compare plans and payment processes to keep going in the right direction, fulfilling the must-have requirements while you are riding a two-wheeler. Never take these for granted, policy is a must for a driver. Enjoy a safe and happy ride!
