Not finding any reason to renew your two-wheeler insurance? We will give you a few, top reasons why you should buy insurance for your two-wheeler.
The most fundamental reason to purchase insurance is to ensure a sufficient backup or safety net to an insured or their family in case of an unfortunate mishap, accident or damage incurred. Two-wheelers aren’t the safest vehicle plying on the roads; therefore, it is always advisable for its owners to have insurance for their financial safety. The second part of buying insurance for your two-wheeler is to conform to Section 146 of the Motor Vehicles Act 1988, which makes it mandatory for automobile owners to have an insurance plan in place.
Having a liability policy covering third-party damages or loss is most essential, and the government duly recognises this. Amid this, adding on to your damage or loss into the insurance is entirely the owners/policy holder’s prerogative. In the next section, we will delve into the essential factors covered in two-wheeler insurance plans.
Factors Covered in Two-wheeler Insurance Plans
The following points refer to the factors covered for the policyholder:
- This insurance covers damages or loss that may occur due to humanmade inconveniences such as any strikes, riots, terrorist activities, accidents by external means, malicious acts and damage due to the vehicle being in transit via roadways, airways, waterways, elevator.
- Damage or loss that may occur due to natural calamities such as natural disasters, including earthquake, floods, storm, hail storm, fire, lightning, frost, landslide, typhoon, rockslide, explosion, self-ignition, and any other types of inundation.
- Third-party legal liabilities are mandatorily covered as per the law. Any third loss of life, damage to the car/bike of other person or damage to the property because of your vehicle will be covered.
- An accident related death or disability for individuals can also be included, in personal accident cover.
Various Add-on Covers or Benefits
You can buy add-on covers right from the time when you first purchase the policy or add them during renewals for more benefit in future. Such additional covers ensure complete protection to your bike
It is advisable to read through the various policies offered by different insurers and compare the features, benefits, and coverage provided through a wide range of options available online before you pick the best one for yourself.