Understanding about renewing the two wheeler insurance policy

The main aspect for bike insurance owners is that they have to ensure that the coverage gets renewed when due. It is considered to be single factor upon which all benefits that are accrued to the person is hinged upon due to the terms as set by the insurance policy. Hence, without timely renewal of the two wheeler insurance policy, the person cannot enjoy its benefits since it gets lapsed and becomes a worthless document. It is always important to make sure that the insurance gets renewed on time.

Enjoying the benefits of renewal

If the person continues to have the insurance renewed on time, then he is likely to be entitled to the following amenities in case, of emergent accidental conditions.

·         Efficient, easy and satisfaction claims made

·         Renewal facility of insurance policy for life

·         NCB (No Claim Bonus) of 50% to 60% on renewal

·         Claim assistance 24/7

An essential benefit derived is stated to be towards 3^rd party liability.  If a third party is affected by the vehicle and dies, then compensation may run into several lakhs. Having a third party liability would mean, the insurance provider would handle the situation. It is the court that decides the claim settlement and few years may pass by for settling it. The person is saved from al the hassles physically and financially. However, one important that the person is to ensure is that on accident date, the policy needs to have been renewed and in good standing. Otherwise, it is the owner of the vehicle who has to bear all the liabilities.

Making claims

This is one part that the person needs to do thorough research before taking up the policy. The insurance provider needs to have a decent record when it comes to paying up genuine claims. He needs to know as to where the claims are to be made and the contact department. This way, he can take help as and when required for making the claims. The reputed insurance provider would ensure that it helps the insured to be freed from the burden of having to face issues from the third parties involved in the accident.