A comprehensive plan to protect your two wheeler

Motorbikes are not expensive, if it’s your first dream bike or else if you wish to upgrade your existing vehicle. But buying new motorcycle after an accident or theft can be a big budget killer. You’ll just sit and wonder “I wish I had insured my bike”. Yes insurance is critical tool which will not only help you minimize the losses but will also give you sufficient back up while purchasing your new motor cycle. Therefore, it is imperative for people to get their two wheelers insured with a reasonable two wheeler insurance from a reputable insurance company.

Ideally, if you compare this mode of transport with other modes such as cars, buses, trains etc. we find motorbikes seem more prone to accidents. While a driver can control car with relative ease on the impact of oil spill, for a two wheeler the rider has to purely balance and require its riding skills to control the bike which could not be 100 per cent safe. Thus, getting two wheeler insurance is the only safe guard to combat these uncertainties of accidents, nature’s fury, theft or stolen etc.

In India, the trend of two wheeler insurance is gaining acceptance very quickly, as more and more of motor cycle users are attaining one for their bikes. Recently, India’s first three year comprehensive cover for scooters and motorcycles was launched by government. The comprehensive cover is 30 percent cheaper than buying annual policies and comes with lucrative offers for the buyers. This new scheme will surely help in tackling the problem of uninsured two wheelers plying on Indian roads.

Most of the times insurance for a two wheeler are taken during the purchase of the vehicle itself. However, it can be purchased later on as well though it is better to buy at the time of purchase of the vehicle itself.

Two wheeler insurance has lot of things to consider and many options are available in the markets. In India, now there are many online portals where one can get the best of the details and even purchase the two wheeler insurance without much trouble. However, before buying one it’s better to do some research and some comparative analysis of the insurance options available in the market. Internet has eased this part a lot as now you just need to visit few insurance companies and collect their quotes. After the quotes collection is done, make a suitable comparison of quotes to look for policy benefits, discounts and offers, concessions and charges incurred. Another important aspect that needs to be seen always is the renewal of the policy procedure; make sure that it also suits your needs well.

Remember the most important part after purchasing insurance would be claim procedure. In case of a theft or accident or claimable damage, you need to inform the insurance company about the entire scenarios and the condition. FIR needs to be filed in case of theft, to make the claim with insurance company. Insurance company will then analyze the case and will reimburse you the money as decided in the policy, upon completing their verification. There are insurance companies which have come up with online renewal of break-in two wheeler insurance, where the vehicle will not undergo any inspection, unlike the conventional break-in renewal process followed by insurers. With competitive premium rates and extensive coverage being available in market bike owners should insure their two wheelers at the earliest.