The Best Advice You’re Not Taking for Two-wheeler Insurance
India has become the largest two-wheeler market surpassing China in recent times. This shows two-wheelers are the most preferred mode of transport in the county and many Indians have at least one in their house. Unfortunately, the two-wheeler insurance numbers don’t reflect the same story and many people don’t find it necessary to have one. What is stopping people to get a two-wheeler insurance? Probably proper advice is not reaching them, so let’s get the best advice from this article on two-wheeler insurance.
Check the two-wheeler insurance cover:
Two-wheeler insurance cover comes in two types. One is third party cover and the other is the comprehensive cover. Check the coverage you are getting in each type of cover and basis that select your two-wheeler insurance cover. Tip – Industry experts recommend comprehensive two-wheeler insurance as it covers your third-party liability and loss to your bike which keeps you financially protected always in occurrence of an accident.
Select Add-ons wisely
While it is highly desirable to get the most protection for your two-wheeler, it is always recommended to ensure that added protection will come in useful for your case. So, select only those add-ons which will add value to your two wheeler insurance cover. This little consideration will help you to keep your two-wheeler insurance affordable.
Don’t let your existing cover expire
If you do have an existing two-wheeler insurance cover and your renewal date is near, then you should renew it before your existing cover lapses. Renewing before the expiry date can reap a lot of benefits like NCB discounts, inflation protection, ruling out the need for inspection hassle etc. If you buy your insurance cover from Coverfox, you will get timely reminders before your existing cover’s expiry date.
No Claim Bonus
If you don’t put a claim on your insurance cover, then you get a reward as a discount on renewal. This discount increases with every cumulative no claim year. The discount goes up to a maximum of 50% giving you a substantial discount on your two-wheeler insurance renewal making it a sweet deal!
Purchase Online and enjoy the convenience of buying two-wheeler insurance
Today, two-wheeler insurance can be purchased online in minutes. All major two-wheeler insurers have a presence online and are offering discounts for purchasing through online mode. So, no need to call your insurance agent. Just go online and get your insurance cover within minutes; it’s that simple and convenient.
Deductible can lower your premium
The deductible is basically your share of the bill at the time of the claim. Select the percentage of deductible wisely so that at the time of claim, you don’t feel the pinch. The higher the deductible, the lower will be the insurance premium payable.
Weighing The Pros And Cons Of Two-Wheeler Insurance
- Two-wheeler insurance make your bike legal on the road and help you evade any fines for not possessing insurance cover.
- It saves you from legal liability of the third party of both damage to person and property
- It covers your own bike damage if you get comprehensive insurance
- You can attach various add-ons to your two-wheeler insurance to increase protection and thus save thousands of rupees on repair. For example, an add-on like engine protector will cover the replacement of the engine which is the costliest part of your bike.
- You can buy two-wheeler insurance cover without the hassle of inspection online
- Two-wheeler insurance is cost-effective and various discounts are available like NCB, installation of ARAI-approved safety device in your two-wheeler
- Insurance cover considers depreciation while calculating claim amount, so you don’t get total price of the replacement of parts
- You can end up attaching unnecessary add-ons that will increase the premium payable amount of your two-wheeler insurance
- Third party insurance cover does not cover own bike damage.
As we can see from the above points, the pros outweigh the cons; hence having a valid two wheeler insurance is always beneficial for the owner of the two-wheeler.
Tricks to Save Hours Of Time While Buying Two-wheeler Insurance
As we discussed above, you should buy two-wheeler insurance online. Online aggregator websites like Coverfox.com are a boon for getting two-wheeler insurance policies. Coverfox offers a free comparison of two-wheeler insurance quotes from major insurers. This facility further saves you lots of time as you don’t have to log on to different websites to know the different quotes. So when you hear, ‘get your insurance cover in minutes’, you know how it can be made possible.