Is Two-Wheeler Insurance a Worthy Investment?

The number of bikes on the roads is increasing every year. In India, two-wheelers are a lifesaver when you are stuck in long traffic queues for hours. They help you navigate through the congested roads and reach your destinations on time. Although bikes have their fair share of benefits, the roads are still full of uncertainties. There are news flashing two-wheeler accidents on highways and city roads due to various reasons.

While you may not be able to avoid them entirely even after following all the traffic rules, you can always stay prepared by enhancing your security cover. One of the steps you can take is to buy two wheeler insurance that provides you with financial protection in case you get involved in a road accident. Even the government has made it mandatory to buy two-wheeler insurance, but you don’t have to purchase it only for its sake because you can miss out on the various benefits a comprehensive two-wheeler insurance offer. The insurance you buy acts like a helpful financial instrument that bears maximum costs when you get involved in an accident, keeping you away from the financial burden.

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It will help if you always buy two-wheeler insurance after reading about the terms and knowing about its benefits in detail.

Here’s the list of benefits that two-wheeler insurance which makes it a worthy investment:

1. Personal Accident Cover

When you buy a two-wheeler insurance plan, you are covered with a personal accident cover. The insurance company will pay you a certain sum of money if you get involved in an accident regardless of the reasons, after a thorough assessment. It significantly reduces your financial burden and gives you peace of mind for better recovery after the mishap has occurred.

2. Third-Party Coverage Benefit

Third-party insurance has been categorized by the Government of India as a compulsory cover when you buy two-wheeler insurance. For instance, for an accident involves third-parties death or permanent injuries, the third-party component of a comprehensive two-wheeler insurance policy pays for the damages. It also covers the damage to the third-party property.

3. Losses Due to Man-made or Natural Calamities

There are some instances in life when your vehicle face human-made and natural calamities. These include theft, vandalism, earthquake, floods, and similar others. Your vehicle is covered against such circumstances when you buy two-wheeler insurance, either online or offline.

4. Numerous Add-ons

IRDA-registered insurance companies provide various rider options to enhance your vehicle’s insurance cover. Some insurance rider options you can choose when you buy two-wheeler insurance are enhanced accident cover to owner-driver, third-party property damage, and passenger’s accident insurance.

5. Cover Against Total Loss

A total loss occurs when your vehicle gets involved in an accidental crash, and it is rendered beyond repair. Your insurance company will then access the current market value of your vehicle, known as Insured Declared Value (IDV), which defines the amount you will get through your claims.

These are only some of the benefits you get through your two-wheeler insurance policy. You should know the details and modify it according to your needs when you buy it online. Most of the insurance companies offer No Claim Bonus (NCB) benefit on policy premiums when you have not made any previous claims. It is provided on policy renewals to encourage customers to continue the policy.

Ensure Your Beloved Bike the Right Way

When you get a comprehensive cover for your bike, you ensure it stays secured on Indian roads that see massive traffic daily. It is equally important to buy two wheeler insurance from a reputable insurer like Tata AIG to ensure hassle-free claim settlement. Compare the prices and benefits online to the best at a reasonable amount. You can also checkout Tata AIG two wheeler insurance reviews as they are one of the best companies in this sector and have gained the trust of its customers. They have a high claim-settlement ratio and offers excellent customer support. Be wise when you select a two wheeler insurance policy.

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