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Two wheeler Insurance

Two wheeler Insurance
Two-wheeler Insurance provides financial coverage to the two-wheelers as well as it’s riders from accidents and unexpected mishaps that cause physical damage to the vehicle and injuries to the rider. With the increasing number of vehicles on the road the incidents of accidents are also growing. Accident generally occurs either due to the faulty driving of the driver or sometimes for the inexperienced and careless driving of people.Hence we all need to be prepared to face such unwanted situations with a pre existing insurance policy.

Two-Wheeler Insurance primarily provides coverage to the following causes:

  • Physical damage caused to the vehicle due to accident, natural disaster, man-made calamities etc.
  • Injuries occurred to the rider of the vehicle during the accident or other mishaps
Types of Two wheeler Insurance

There are two types of two-wheeler insurance available in the market:

  • Comprehensive Insurance:Comprehensive Insurance covers all kinds of physical damages caused to the vehicle, theft of the vehicle along with the harms affected to the rider.
  • Liability Insurance:Liability Insurance secures injuries that happen due to the third party action.

Two-Wheeler Insurance is given to private, commercial and mixed vehicle. With a very easy process we can have a Bike Insurance Policy, while purchasing our vehicle. At the time of buying a new bike, we can apply for its insurance by paying a small amount of premium and the registration documents of the bike. Many leading Insurance companies have come forward with their attractive features to provide Two-Wheeler Insurance and they have ties with the Bike Manufacturing companies.

Top Two Wheeler Insurance Companies

Some trusted companies offering Two-Wheeler Insurance in India are:

  • Bajaj Allianz Two-Wheeler Insurance
  • Bharti Axa Two-Wheeler Insurance
  • Reliance Two-Wheeler Insurance
  • HDFC Ergo Two-Wheeler Insurance
  • Royal Sundaram Two-Wheeler Insurance
  • IFFCO Tokio Two-Wheeler Insurance

There are some companies offering online insurance policies which people can buy sitting at home and they can also pay time-to-time premium online. To renew the insurance of the old vehicles is also become a hassle-free job through online renewal facilities.

The premium rate of Two-Wheeler Insurance is very low and anyone can afford it. The premium amount of a Two-Wheeler Insurance depends on the quality and cost of the vehicle, if the vehicle is more heavy and powerful the premium amount will be more and vice versa. It is also determined by the city where the bike is purchased. If it is purchased in a big city the premium amount will be higher, as in these places the vehicles are more vulnerable to accidents and thefts. It is better to avoid claiming insurance for minor injuries and damage otherwise it would lead to the increase in the rate of premium.Insurance companies now offer two wheeler insurance policies with coverage terms of 1, 2, or 3 years. There are some insurers who offer special discounts on long-term plans with policy term of 2 or 3 years.

In India it is made mandatory by the government to have Insurance of the vehicle. The Insurance Regulatory Development Authority of India (IRDAI) which sanctions approves all the insurance companies of the country. Therefore it is a wise move to have insurance and be safe from unwanted expenditure on the damaged vehicles.