Two wheelers are worshipped next to god when it comes to riding through the snarling traffic, meeting emergency requirements or cherishing the precious moments of life along with the loved ones. They help us to rescue in every road situation in life. It generally consists of three segments Mopeds, Motorcycles and Scooters. Two wheelers have played a pivotal role in the rising growth of the Indian automobile industry. Over the years the domestic sales of two wheelers have grown by huge margins and there is a remarkable demand for motorcycles which along with serving the purpose of a vehicle has become a style statement for the youth of the country.
With the rising demand comes the growing concern of road mishaps, or burglary or some other form of damages such as third party damages or damage caused to your vehicle. Therefore, Indian traffic law makes it mandatory to purchase a minimum of third party cover if you wish drive your dream machine on road.
There are number of ways to buy two wheeler policies such visiting insurance companies, calling up agents, or buying policy online. However, bike insurance online purchase has allowed all the owners to buy policies with convenience of their time and place. The renewal process is also very smooth. The advantage of buying insurance online is that the quotes that you compare through them are unbiased unlike company agents. It also help you reduce the research time compared to manual process of visiting branches and collecting information leaflet and then sitting down for calculations. In agent based policy purchase there is always commissions associated which ultimately increase the cost of the policy but in online purchase there is no middlemen commission associated.
Two wheeler insurance policies have two choices such as you can either buy third party coverage which is the minimum insurance requirement by the Indian law, or you can get a Comprehensive Policy that will cover all kinds of accidental damages, thefts, burglary, third party liabilities, etc. However, it is advisable if their pillion riders who often use your bikes you can insure them as well by taking an add-on rider along with your comprehensive two-wheeler policy. Personal accident coverage is a default amount included in every comprehensive bike cover and no extra premium is to be paid for it.
ONLINE ADVANTAGE
Today, two-wheeler insurance accounts for just 10-12% of the total motor insurance segment. This throws open a wide opportunity for insurers to boost premium income. Bike insurance online segment helps you to compare two wheeler policies on number of factors like costs, features and benefits, discounts, payment modes, flexible payment options etc. Today, there are many companies who have initiated to waive the pre-inspection in case of online renewal of expired two wheeler policies – a move to increase two-wheeler insurance segment in India. So, there is various ways government and private insurance firms are trying to boost the bike insurance online sales as well as offer customized benefits to the customers.
If you decide to buy your bike insurance online take a close look at the fine print. Read all the rules and regulations minutely and then go for your policy purchase. Your bike is one of the most effective means of daily commute for you or it’s your passion. No matter what the reason is but your bike is surely one of your valuable possessions. A bike insurance gives you a sense of protection against the financial losses occurred due to any form of accident, or third party damages, natural calamity or manmade incidences. It gives a helping hand against the rising burden of financial costs on your shoulder due to such unexpected event. Therefore, always shelter your dreams before they get shattered with any unfortunate incidences in life.
Bike Insurance 