Key Factors to Notice Before You Compare Two Wheeler Insurance

Behind every robust plan, there lies strategic decision and key factors consideration. Our plan runs around the key factors at every point in time. On one hand, two wheelers considered as the most convenient mode of transportation on the other hand they are most vulnerable to accidents especially in densely populated regions. Therefore, it is important to get the best deal of coverages and protections for your two wheelers against the natural calamities, disasters, accidents or any adverse events that might come on the way. You can avail the best protection plan for your two-wheeler only when you compare two-wheeler insurance plans available in the market from various competitive insurance firms.

Before you compare two-wheeler insurance plan, you must consider the below key factors:

  1. Type of insurance: there are two types of insurance available for two wheelers. I.e. comprehensive insurance policy, which covers mishap for the third party and for the damage of your own two-wheeler and the third-party liability insurance plan, covers any mishaps or damages related to the third party. Once you understand the type of insurance, you can choose which insurance is better for your two-wheeler.
  2. Two-wheeler specification: Knowing the specifications of your two-wheeler is very important step towards choosing an insurance. Two wheeler specification affects your insurance premium. Unless you understand the specifications, you will not be able to decide on an insurance plan.
  3. Mode of choosing the best plan: How do you want to compare the two wheeler insurance available to you? You want to do it yourself using the resources on the web or take the help of a two-wheeler insurance broker, who is an expert in the insurance industry and decide the best insurance plan for you.

Claiming Of Two Wheeler Insurance

Two wheeler insurance acts as a financial security in case there is an accident or mishap to your two wheelers. Along with the understanding of the coverage plans, the insured two-wheeler owner should understand the claim process to cover the loss or damages incurred to the two-wheeler.  The insurer settles the claim based on the type of claim opted in the insurance plan. One should do the following things to claim the two-wheeler insurance.

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  1. Report the damage: as soon as you met with an accident or mishap. Report the accident to the insurer. To report the damage, you might need to know all the information related to your two-wheeler. The claims are approved after conducting the basic background verification and a basic survey related to the damage.
  2. Get your vehicle repaired: if you have chosen a comprehensive insurance plan, all types of damages such as third-party collision, your own damages and damages related to the third party, two wheeler thefts would be covered through the claim.

There are two types of claims. Cashless claims are available at the network garage. Insurer need to pay only the deductible amount. All the other expenses are taken care by the insurance company. For reimbursement claims, the insurer has to pay the claim amount initially and afterwards the insurance company reimburses the claim amount.

Best Period to Buy Two Wheeler Insurance

Over the years, the number of two-wheelers accidents are skyrocketing and the number of deaths related to the accidents are increasing. Keeping the safety of every human being in mind, Government of India has mandated two-wheeler insurance for every two-wheeler owner.  When an individual decides to buy a two-wheeler, along with the best two wheeler model, he/she must compare two-wheeler insurance options and choose the best one.

After buying the insurance, you should keep the insurance coverage time in mind. If you ever plan to change the ownership or replace your two-wheeler, make sure to opt for an insurance plan, which provides flexibility to transfer the insurance immediately to the replaced/transferred bike. Once the insurance expires, there are unlimited options available to renew or buy a new insurance. Even then, the insurers get a chance to compare the competitive options and choose the best one for themselves. The best period to buy the insurance plans is at the beginning of the purchase of the two-wheeler or the period after the two-wheeler insurance expires.

It is responsibility of every individual to protect themselves and others around them. To get everyone protected and two-wheeler owner needs to choose the best insurance coverage plan by dealing and compare two-wheeler insurance plans. After all the best insurance plan benefits everyone.

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