Two-Wheeler Insurance Essentials You Ought to Know

two-wheeler insurance essentials

It is a must to have two-wheeler insurance as it fulfils your legal liability. There is a constant increase in the number of vehicles on road and this increases the risk of road accidents and other mishaps. Other than an accident, there are many ways in which your vehicle can get damaged. For this reason, you should always be on the safer side and get a comprehensive insurance policy for your two-wheeler.

Getting an insurance policy for your two-wheeler is very easy and simple. At the time of buying a bike insurance plan, you should always prefer a comprehensive insurance policy. It offers better protection since it attracts a higher premium as compared to the third-party insurance plan. In this article, we will tell you about the two-wheeler insurance essentials you ought to know.

Is Two-wheeler Insurance Mandatory as per Law?

As per law, every vehicle plying on the Indian roads must have vehicle insurance coverage. If you are caught driving without mandatory documents such as the policy copy, driving license, registration certificate etc. the traffic police can issue a challan.

Things can get complicated in case you are involved in an accident and you don’t have vehicle insurance cover. In that situation, you have to bear the expenses of repairs from your own pocket. Apart from that, if you have caused any damage to the third party, you will have to fulfil your legal liability.

In case of an accident, when the person driving the vehicle does not have insurance coverage, it can take a toll on his/her finances.

However, when the person driving the vehicle has insurance cover, it will cover the damages caused to the third-party. It ensures the vehicle owner’s finances and fulfils his/her legal liabilities. For this reason, vehicle insurance is mandatory in our country. Additionally, it keeps everyone safe on the roads.

You can choose any of the leading companies like Bharti AXA two wheeler insurance and buy two-wheeler insurance. It will secure you against a lot of hassles in future.

Things to Consider While Buying Two-wheeler Insurance

Here are the things to consider while buying two-wheeler insurance:

Always look for the reputation of the company in the market and you should also compare plans from different companies.

Make sure to check out Bharti AXA two wheeler insurance plans as they are well known for their amazing features. Additionally, you can get complete value for your money. You can also compare the plans with other service providers and choose the best option for your vehicle.

Insurance Coverage- How much is too much?

Consider your budget for the insurance cover and choose between the third-party cover and comprehensive cover option. When your vehicle is new, it is advisable to go for comprehensive coverage as it provides better coverage as compared to third-party coverage. On the other hand, when your vehicle is old, you can go for third-party cover.

Most Essential Coverage Needed for your Two-wheeler

When it comes to getting the best coverage for your two-wheeler, you should primarily focus on availing comprehensive coverage. It should provide coverage against legal liabilities arising out of an accident where you have caused damage to the third-party. This is the basic option available in the market and you can get sufficient bike-insurance coverage from Bharti AXA two wheeler insurance or other insurance providers in the market. When you have a higher budget, you can go for comprehensive coverage that will provide various covers for your own bike apart from offering third party cover.

  • Coverage Against Third-party Liabilities

This is the most essential coverage needed for every two-wheeler and it will protect you in times of emergency. It is not uncommon for people to get involved in accidents and when you have caused any damage to third-party life or property, you will be held responsible to pay for damages. In that situation, having a third-party two-wheeler cover from Bharti AXA two wheeler insurance or any other company will protect you against legal liabilities.

  • Coverage for Damages Caused to your Two-wheeler

When you choose the third-party cover, you will not get any of protection for your own vehicle. Note that your vehicle may be damaged in the accident. When you have a third-party two wheeler insurance cover, you will have to bear all the expenses from your pocket. For this reason, you should always prefer a comprehensive cover that will provide protection for your two-wheeler as well. You will be glad to know that it can even provide protection against various natural disasters and damages done due to fire, accidents, riots etc. In this manner, your two-wheeler will be covered no matter what sort of damage is caused to it in the future. You can easily claim compensation for all the damages caused to your vehicle by choosing a comprehensive insurance plan.

Additional Coverage to Enhance Basic Protection for your Two-wheeler

Apart from the coverage mentioned above, you can also avail add-on covers and avail the ultimate protection for your two-wheeler. You need to understand that the applicable terms and conditions for the covers may vary slightly from one company to another.

  • Personal Accident Cover

It makes sense to opt for a personal accident cover along with the basic two-wheeler insurance. Note that the basic insurance coverage is only provided for vehicles and any damage caused to the rider is not covered. This means that you will have to pay for all the medical expenses from your pocket which can be easily avoided by adding a personal accident cover. This comes at a nominal additional cost and you will get a lot of benefits in the long run with this cover. You will be able to avail the best medical treatment in times of emergency. There will be no hassles in claiming compensation in such cases.

  • Pillion Rider Cover

In most cases, people travel with pillion riders on a two-wheeler. In that situation, you will also need cover for the pillion rider. This is usually not available with the basic insurance plan as it offers coverage only for the two-wheeler rider and not the pillion rider. However, when you choose personal accident cover along with pillion rider cover, you will get enhanced coverage for both the riders. In this manner, any medical expenses for the riders due to an accident will be covered in the two-wheeler policy.

  • Zero Depreciation Cover

A vehicle loses its market valuation as soon as it is out of the showroom. The average depreciation rate is at around 10% per year for the first five years and thereafter, it reduces to around 5% on an annual basis. In this way, when something goes wrong with your bike even in the first year, you will not get complete compensation equivalent to the purchase value of your two-wheeler. It is possible to avoid this situation by choosing the zero depreciation cover that will protect the market value of your two-wheeler for the first two years. In this situation, if any damage is caused to your two-wheeler during the first 2 years, you can claim compensation for all the damages without any depreciation deduction. Reputed companies like Bharti AXA two wheeler insurance offer zero depreciation cover and you can easily avail it for your new vehicles.

  • Roadside Assistance Cover

There can be chances that the vehicle can break down in the middle of nowhere. It can put a lot of burden on your pocket. You may have to avail towing service in order to tow your two-wheeler to the nearby garage and this can cost you a lot of money. Apart from that, you may not be able to avail proper service when you are out of the city. In that situation, having roadside assistance cover will ensure that you get the best service from network garages. Additionally, they will be able to provide you service quickly at any location. This does not cost too much and you will be able to enhance the coverage for your two-wheeler with such useful additional covers.

  • Accessories Cover

Many people take very good care of their vehicles and they install expensive accessories to have a better riding experience. If you have also installed expensive accessories in your vehicle, it’s is recommended to avail additional cover for the accessories. Basically, accessories are not covered under the basic two-wheeler insurance plan. The basic coverage will only be provided for the accessories installed by the company and any additional accessories will only be covered with an accessory cover.

Summing it up

Whenever you want to get insurance for your two-wheeler, make sure to buy the best insurance plan. This will provide the optimum coverage for your two-wheeler and you will be safe in every situation.

Due to various reasons, damage(s) to the vehicle can be caused at any time. In most cases, you would not have control over the situation and having insurance will ensure that you will get compensation for the damages that will be caused to your vehicle.

This will enable you to bring the vehicle back to its working condition. Never hesitate to inquire about all these essentials when you approach the customer support team of Bharti AXA two wheeler insurance as they will guide you properly and help you to select the suitable covers that will provide complete value for your investment.

Every individual may have different requirements with regards to choosing covers. Getting guidance from experts will help you to choose the most suitable covers for your vehicle.