3 Questions That You Must Ask Before Buying Two- Wheeler Insurance in Indiaby Ankit Passer insurance counsellor
When it comes about two wheeler insurance, you generally choose the one your friend is using
or depend on the commercial of the two wheeler insurance company you have seen on TV the
most. This is certainly not a good idea for buying two-wheeler insurance online.
Because all bike insurance companies in India have varying rates and differ in everything from
coverage to claim settlement ratio. Below are the 3 most important questions that you must
ask before buying two-wheeler insurance online in India.
How Is the Value of My Two Wheeler Determined?
The value referred here is termed as Insured’s Declared Value (IDV) which is the maximum
amount your two wheeler insurance provider will compensate in case of total loss or theft
of your bike. The IDV for your two wheeler insurance is generally calculated on the basis of
the manufacturer’s listed selling price.
You should remember that IDV is directly linked to the premium of your two wheeler
insurance policy. The higher the IDV, the higher premium for the two wheeler insurance
online policy you have to bear.
What Types of Coverage Are Mandatory?
As per the Motor Vehicle Act (1988), it is mandated by Indian Government that you should
at least possess third party insurance for any motor vehicle on road. Therefore, buying third
party insurance cover is a necssity for your two wheeler insurance policy.
What Extra Coverage Is Available For My Two Wheeler?
It is advisable that you opt for a comprehensive two wheeler insurance policy because it
safeguards both the third party and you or any damages caused to your own vehicle. You
can also opt for add-on covers which are offered by best two wheeler insurance providers in
India to strengthen your two wheeler’s protection.
If you are looking for a bike insurance plan offers widespread coverage at a low premium,
simply click here and get the best deals through two-wheeler insurance plans comparison.
Created on Jul 4th 2020 09:23. Viewed 327 times.
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