Two Wheeler Insurance (2)

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Two wheeler insurance
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Two wheeler insurance Things to know

• There is just something about a sleek new bike
  that doesnt fail to catch our attention. The
  idea of the wind in your hair as you sweep the
  streets in your shiny new ride is the stuff of
  fantasies. But, with that much speed and power,
  comes the responsibility to protect yourself and
  your vehicle. One perfect way to do this is by
  investing in a insurance policy for your two
  wheeler.
• The majority of people owning two wheeler
  vehicles are not renewing their vehicle insurance
  making them a serious hazard to be on the roads.
  According to estimates, in 2013, 14.38 million
  two wheelers were manufactured.

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• Yet, almost a third of cars and more than
  two-thirds of two-wheelers on Indian roads do not
  have even the mandatory third-party liability
  insurance. A valid motor insurance policy is
  mandatory as per Indian laws and is as critical
  as wearing helmets and carrying the necessary
  vehicle documents. Not abiding by this rule is a
  serious offense.

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• Now there is not much difference between a
  car insurance policy and a two wheeler insurance
  policy. Such a policy is protects your vehicle
  from events like fire, explosion, self ignition,
  lightning, burglary, theft, riot, strike,
  malicious act, terrorism, earthquake, flood,
  typhoon, accidental external means, landslide or
  rockslide, road/rail/inland waterway/air transit.
  It also provides cover against Legal Liability to
  third party personal injury and property damage
  arising out of an accident involving the vehicle
  made compulsory under the Motor Vehicle Act. A
  personal accident cover is also included in this
  policy.

Loss of accessories-electrical or electronic,
legal liability to paid driver, personal accident
to the pillion riders, normal wear and tear,
damage due to negligent driver or driving under
influence are not covered by any two wheeler
insurance policy.
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• One can make their policies comprehensive by
  opting for covers similar to a car insurance
  policy. Add-ons like Zero Depreciation where, at
  the time of a claim, no deductions will be made
  under depreciation. Such add-ons are usually
  given by for vehicles whose age is up to 2 years.
  Total cover is another beneficial plan where Road
  Tax, Registration Cost and Insurance premium are
  paid along with the sum insured, in case the
  vehicle is stolen or there is total loss of the
  vehicle. This is offered to vehicles which are up
  to 15 years old.

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• A two wheeler insurance policy is an annual
  contract that needs to get renewed every year. If
  the deadline is missed, there will be a break in
  the policy. This implies that instead of renewing
  your policy, you will need to buy a policy
  afresh. This could lead to a higher premium or
  worse still, reject to offer insurance.
• Now, there are insurance companies which have
  come up with online renewal of break-in two
  wheeler insurance, where the vehicle will not
  undergo any inspection, unlike the conventional
  break-in renewal process followed by insurers.
  The customer can purchase the policy online from
  the insurers website without any documentation.

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• The only difference is that the risk inception
  date will start 3 days from the day the vehicle
  owner purchases the policy. Any damage to the
  vehicle before the risk period starts will not be
  covered. Bajaj Allianz, Reliance and ICICI
  Lombard are some companies that are providing
  this facility.
• Source from http//www.moneycontrol.com/maste
  r_your_money/stocks_news_consumption.php?autono11
  17423

Click here to learn more about our Two Wheeler
Insurance http//www.bajajallianz.com/Corp/
motor-insurance/two-wheeler- insurance.jsp
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  You.!