Different types of 2 wheeler insurance to consider

Insurance for different facets of life should not be ignored. Life, automobile, health, electronics, etc., each element now comes with a certain kind of guarantee that provides additional protection and covers for safety. One such important type of insurance that is becoming increasingly necessary would be safeguarding your two-wheelers. Multiple advantages are associated with buying two-wheeler insurance:

  • It is a mandatory requirement according to the law. As stated by the Motor Vehicles Act, two-wheelers and four-wheelers need to be insured with a valid claim.  
  • In case of accidents or mishaps, the losses suffered can be massive. It would be helpful to receive a significant amount of compensation against those losses to be able to mitigate the damages that occurred. 

Types of insurance policies for two-wheelers – An insurance policy helps you secure your vehicles against any damage from natural to man-made calamities. The multiple benefits associated with these policies can provide you with short-term and long-term advantages. Cover the cost of repairs and focus on the protection and coverage for your vehicles. In case of accidents, natural disasters, acts of terrorism, vandalism, thefts, etc, your two-wheelers will be covered and protected. 

  1. Comprehensive policy – This insurance plan covers the protection of the owner from all the costs that may have been incurred in the case of accidental damage to a third party and the vehicle in itself. This is a combination of third-party liability and own damage insurance. It covers you against legal liability arising out of injury, death, or property damage to a third party caused by your two-wheeler, as well as any damages caused to your two-wheeler due to fire, theft, natural calamities, and other such unforeseen events. It is also possible to select add-ons by opting for a premium policy. This will help you expand the type of beneficiaries from the insurance coverage. If you buy two wheeler insurance, you will have the option of a personal accident cover of 15 lakh INR in the case of accidental death or disability with an added premium cost. 
  2. Stand-alone own damage policy – This type of insurance covers damages caused to your two-wheeler due to fire, burglary, riots, thefts, natural calamities, and other such unforeseen events. This type of insurance covers own-damage costs only. You can also choose to add certain additional criteria to your policy to avail of the maximum benefits associated with the premium cost. If you already have an active third-party policy for your two-wheeler, this policy is suitable for you. 
  3. Third-party cover – This is the most basic type of two-wheeler insurance that is mandatory by law. It covers you against any legal liability arising out of injury, death, or property damage to a third party caused by your two-wheeler. Buy 2 wheeler insurance online as it covers you from any legal costs that may take place due to an accident. The insurer will be responsible for taking care of the expenses that occur in case your two-wheeler causes any accident or injuries to a third party or their properties. Being the most minimal in terms of coverage, you might want to read the coverage policy and type of beneficiaries carefully so that you ensure maximum protection of your asset. 
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Choosing the best insurance policies for two-wheelers – The type of insurance coverage you would want to invest in for your automobiles would be a personal choice. It is important to understand and consider different aspects like – where you live, the usage of your two-wheeler, areas you travel to, etc. Some key aspects of a good insurance policy would look like:

  • Receiving the policy instantly – This would be achievable if your insurance provider has an online portal wherein you can update all the information and browse through the packages to get the best possible option.
  • 24×7 assistance – Accidents or damages are not timed or predicted. Therefore, it would be vital to have a policy that would offer you the right kind of assistance and guidance any time you need it. Timely help also reduces mental constraints in times of emergencies
  • Digital inspection – These days, claims can be inspected and analyzed digitally instead of having to go through mountains of paperwork. Uploading all the documents on the online portal of your insurance provider will make your life easier too. 
  • Range of services – Cashless repairs, networks of garages, multiple centers all over the country, guarantee services on repairs, etc are some of the benefits that you could reap out of an insurance policy for two-wheelers that are holistic and client-centered. 

Your insurance policy should cater to your needs. It is recommended that you evaluate your specific needs and choose the type of two-wheeler insurance policy that suits you best. Exhaust your options before you narrow down on one.

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