Articles

Six benefits of bike insurance policy

by Kanika Shelatkar Insurance Consultant

Many vehicle owners are possessive and attached to their means of transport. Vehicles are convenient and useful for travelling long distances or even stuffing and transporting goods from one place to another. Since many people are fond of automobiles and have a passion for driving, they keep them in favourable conditions. Maintenance and cleanliness of the vehicle are one of the most crucial factors for its long life.

They treat their vehicles like a baby and protect them from dents and damage. There are many methods of bike maintenance, which include opting for a bike insurance policy. This policy covers any damage caused to the vehicle due to accidents, natural disasters, theft, loss, and many other factors. Having this policy is beneficial for six reasons, as stated below:

Instant policy: During olden days, customers who were interested in buying or renewing their insurance policy received cover notes. They received the document with the insurance policy on their email address much later. With the emergence of technology, policy documents now include digital signatures and are provided to the policyholder immediately.

Compulsory personal accident cover: Bike owners can now receive their own accident cover of INR 15 lakh along with the policy. Owners must pay INR 750 compulsorily as a premium to cover any accidental damage to the vehicle.

Optional coverage policies: They are available at an extra cost, but cover personal accidents caused to pillion riders, enhanced cover for spare parts and accessories, zero depreciation cover, and so on. However, it is mandatory to file an insurance claim.

Secure transfer of No Claim Bonus: A No Claim Bonus can be advantageous for drivers or owners who follow safe driving practices and have not made any insurance claim previously. Any newly purchased vehicle gets a smooth transfer of NCB discount.

Discounts: Insurers who are approved by the IRDA provide discounts for anti-theft vehicles, members of recognised automotive associations, etc. Owners with clean records also receive NCB concessions for the insurance.

Online policy renewal: Insurance providers also have websites and mobile applications which help policyholders purchase and renew their policies. The database has recorded their details like policy claims and additional information that make policy renewal easier and faster.

Conclusion

Insurers also provide policyholders with coverage for property damage and physical injury. People have the authority to choose whether they need online bike insurance or an offline one. The online process is convenient and enables people to check their policy status anytime.

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About Kanika Shelatkar Innovator   Insurance Consultant

7 connections, 0 recommendations, 57 honor points.
Joined APSense since, March 18th, 2019, From mumbai, India.

Created on Apr 21st 2020 00:22. Viewed 380 times.

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