Having a bike is a boon in heavy traffic conditions.It makes travelling a lot easier, helpingus swerve. It is also quite convenient to operate and reduces our dependency on public transport. But the best part is that it is relatively cheaper than most vehicles. Hence, it is no less than a prized possession for many. But owning one comes with its set of responsibilities. You need to be careful about its safety when on the road.
You must also protect it from unanticipated physical damages. This is whenBike Insuranceenters the picture.Also called Two-Wheeler Insurance, its objective is to safeguardyou and your bike against such events. It covers financial losses incurred during traffic collisions, human-made disasters, or even calamities. It also funds medical expenses for the injuries you might have sustained during accidents.
Here are the most notable benefits of buying the Insurance:
1) Easy to buy& renew
Many shy away from Insurance, assuming it involves a host of formalities. But this is not true, especially in the case of online Bike Insurance. Nowadays, you find various Insurance providers online. They follow a simple application process that allows you to buy Motorcycle Policies quickly. You also need not spend much time on the renewal process. Efficient Insurance companiesmake renewals quickly.
They also provide specific discounts for regular renewals. For example, some offer a No Claim Bonus for every claimless year of the Insurance.
2) Reduces legal liabilities
As a responsible rider, you take all the necessary steps to stay safe while driving. You follow the traffic rules, maintain the right speed, and avoid overtaking other vehicles. But despite doing so, you sometimes come across irresponsible drivers. Such individuals take these rules for granted. They put theirs and your life at risk with their antics.
In an unfortunate circumstance, you even get into an accident with them. Although it is not your fault, you face some legalities. Hence, TwoWheeler Insurance offers the insurers Third-Party Insurance. This protects you against any third-party liabilities that arise during such an accident.
3) Offers cashless claim
When you buy Bike Insurance online,you have access to cashless claims. Through such facilities, you can take your motorcycle to any network garage to get it repaired. The bills getsettled between the insurer and the garage. You need not bear the significant and unnecessary expenses.
4) Broader appeal
Bike Insurance Policies have a comprehensive appeal like General Insurance. They cover the expenses concerning the physical damage caused to you and your vehicle. Following is the list of payments insurers bear:
- Loss or damage caused by natural disasters like earthquakes, floods, lightning, etc.
- Lock and key replacement in case of damage/theft
- Personal Accident Cover pays for your medical expenses incurred by traffic collisions.
- Loss or damage caused due to man-made disasters like riots, malicious acts, theft, terrorism, etc.
- Loss or damage caused due to vehicle malfunctions like self-ignition
In India, every two-wheeler owner must have Bike Insurance. The mentioned benefits justifies its necessity.
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