Where can I get the two wheeler insurance?

by Neeta Singh Content Marketer

India is a country that is known for its fast lifestyle and never stopping approach. But, what makes things difficult sometimes is the ever-increasing traffic. Roads are full of vehicles, with hardly someplace to move. In such a heavy traffic driven country, taking a car for a daily commute isn’t the best option. Also, since it is still in the developing stage many still lack the power to buy their dream car. Besides public transport, the most favoured and convenient form of the daily commute for many is a two-wheeler motorcycle, commonly known as a bike.

Bikes are affordable, easily available and easy to travel with, especially on busy roads as they can escape the traffic faster than any other vehicle. Undoubtedly, bikes are one of the magical inventions to help tackle those bottle-necks that cause inconvenience and frustration. But, riding a bike comes with its own drawbacks. In trying to escape traffic, most of us take short-cuts and sometimes even don’t have a control on the speed panel. This along with the poor condition of roads adds up to the increase in road accidents caused via two-wheeler vehicles.

The number of deaths caused due to accidents has been on a constant surge. As such it has become extremely important to protect yourself from any such misfortunes. Wearing a helmet and following the traffic rules is enough today, there is a need to get a good protection cover. To safeguard your bike commute on the roads, today it is a need to have a suitable bike insurance policy. A bike insurance policy provides the right kind of protection to the bike as well as the rider in times of unanticipated misfortunes.

Who can get a bike insurance policy in India?

Bike insurance can be availed by anyone who owns a bike and has the permission by law to ride it. That means, if you are a bike owner with a valid driving license, then you can apply for a bike insurance online or even offline you can purchase a policy.

The insured is proffered to employed or even self-employed in order to purchase the bike insurance policy. If you fall under the age group of 18 years or more, then you can buy a bike insurance policy online. However, since each company has its own requirements, you will have to meet minimum income level as per your insurance company criteria. This is to ensure that you can afford to pay the insurance premium without any difficulties.

Also, the insurance is offered for a specific period of time against a particular sum assured. As such, the policy needs to renewed in due time to get the benefits, failure to which will discontinue the policy contract.

Application for Bike Insurance Policy in India

In India, one can apply and avail bike insurance policy online or offline. The procedure is very simple and doesn’t consume much time. All you need to do is provide all the details and information as per the company requirements choose the type of policy you want, the number of years you wish to get it for and the sum assured. All these details will help you get a premium quote and if it suits you, you’re good to go. Some insurance companies also provide special discounts on premiums for various reasons.

1) Bike Insurance Offline:

One can apply for a bike insurance offline by physically visiting the insurance company or contacting an insurance agent/ advisor. An insurance advisor is a person who works for a bike insurance company. S/he will help you with the procedure, the documents required, the forms to be filled and the information to be revealed.

Buying a bike insurance offline is a traditional and old method. It is tiresome, a little lengthy and tedious. Also, it is more costly as compared to buying a bike insurance online because here you will have to pay a certain amount of money (commission) to the mediator (the insurance agent or advisor). All in all, the idea of buying a bike insurance offline is old school, time and energy consuming and more expensive as the premium rates will be higher due to the agent.

Below are certain ways in which you can apply for bike insurance offline

- By personally visiting a bike insurer’s office and meeting the a representative to understand the procedure

- By contacting an insurance agent from the insurance company of your choice to complete the insurance application procedure.

- By a bank who deals in bike insurance policies or a third-party dealer

If you don’t want to take the long route of offline method, then you can also apply for bike insurance online. Yes with the advent of technology and spread of internet, now you can apply for bike insurance online.

2) Bike Insurance Online:

Applying bike insurance online is simple, easy and fast. All you need is a computer/ tablet/ mobile having a good internet connection. When you are applying for a bike insurance online, you don’t have to visit the insurance company office physically; you can do it in the comfort of your home. For bike insurance online, log in to the official website of the insurance company of your choice. Choose the type of policy you want to avail, fill in the details, provide the personal information like phone number, email address, etc, choose the policy term and get a quote of the premium instantly.

Also, you can take help of third-party websites who provide bike insurance online in India. The biggest advantage of buying bike insurance online is that even before you choose the insurance company you want to be associated with, you can get premium quotes of different insurers by using the online premium calculator.

Everything you need to know about the New India Assurance Bike Insurance

The New India Assurance Bike insurance policy is a trusted and comprehensive insurance scheme. It is offered by the company under the motor vehicle plan umbrella. It offers innumerable advantages such as No Claim Bonus (NCB) that can go up to 50%, protection for all major and minor damages to the insured vehicle and a fast claim settlement procedure. The best thing is that all this is given by the company at affordable premium rates and aptly suits the customer requirements and needs.

Altogether, the New India Assurance bike insurance assures that the policyholder is protected and provided with adequate financial assistance in times of unanticipated and misfortunate events that lead to immense damage and losses.

1) Advantages of the New India Assurance Bike Insurance

The New India Assurance Bike Insurance is a trustworthy and renowned insurance policy in the insurance market. It is known for its satisfactory services and fast claim settlement procedures. Below listed are some of the key benefits enjoyed by the policyholder under the New India Assurance Bike Insurance

- The insurance company offers an amazing No Claim Bonus (NCB) facility. A NCB is a special discount given to policyholders who have not filed for any claims during a year of policy period. The company recognizes and appreciates such good riders and thus offers additional benefits to them in the form of special discounts. The NCB provided under the New India Assurance Bike Insurance ranges from a minimum of 10% and can rise up to a maximum of 50% in case of continuous and consistent years of NCB. This discount benefit is enjoyed by the policyholder in times of insurance policy renewal.

- The coverage offered by the New India Assurance Bike Insurance is on the basis of the bike owner's legal liability in events of road accidents. The company also offers various additional insurance covers that can be availed if the need arises. However, additional covers attract a higher premium rate. These additional covers include, assistance to employees, assistance to non-fare paying passengers using business two-wheeler vehicles. It also provides coverage for damages or losses caused due to various accessories used on the bike.

2) Types of Coverge offered

The New India Assurance Bike Insurance offers two types of bike insurance covers namely the Liability only (third-party liability cover) and the package policy. As the name suggests, the liability only cover is a limited insurance cover that financial assistance to the third-party in case of an accident causing damage or loss to property and life of the third-party. It helps the third-party and doesn’t provide a monetary help to the policyholder. On the other hand, the package policy is a comprehensive and all-round insurance coverage providing help in times of distress including accidents, robberies and so on.

Each policy has its own risks and benefits included. The general Inclusions of the New India Assurance Bike Insurance cover loss and damages of the insured vehicle in times of fire, earthquake, floods, cyclones, and any other uncontrollable happenings.

However, there are certain exclusions under the New India Assurance Bike Insurance. The company doesn’t provide financial assistance to the policyholder if the damages or losses caused to the insured vehicle have been done under the influence of alcohol or any other toxic substances (drugs).

In a nutshell, the New India Assurance Bike Insurance guarantees policyholders of hassle-free and quick claim settlement procedures. The company offers both bike insurance online as well as offline process.