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Two-wheeler insurance refers primarily to an insurance cover offered to the rider and the two-wheeled vehicle in the event of an accident, calamities or any other forlorn happening, depending upon the type of policy. A two-wheeler insurance policy provides coverage to every kind of two-wheeler vehicle. Having two-wheeler insurance is quintessential since an unfortunate sudden situation can result in a loss or injury to a person in more than one way. It will not only create havoc to the bike but also mentally, physically as well as financially put the rider in a lot of vexation. Thus, it is extremely important that you must secure yourself and your two-wheeler by buying a two-wheeler insurance policy. This will save you from a great extent of the financial burden in case any such situation occurs.

As per the Motor Vehicles Act 1988, it is compulsory for a buyer to purchase a two-wheeler insurance policy at the time he or she purchases the two-wheeler. In this case, the dealer himself will provide you with a two-wheeler insurance policy at the time of the bike purchase. Nevertheless, if the buyer purchases a two-wheeler that is pre-owned, then he or she can transfer the existing insurance plan or buy a new one and at the end of the insurance plan, get it renewed.

Types of two-wheeler insurance plans

The types of two-wheeler insurance plans are

• Third-Party Liability Only: It is mandatory as a two-wheeler owner for you to possess a third-party liability only insurance cover. It is the simplest policy that offers coverage to a third party, their property, their vehicle, etc. Although it does not provide coverage to your own vehicle, this policy provides personal accident covers too.
• Comprehensive Two-Wheeler Insurance Policy: A comprehensive two-wheeler insurance policy is an insurance plan that gives the policyholder an enhanced coverage. It is an all-inclusive insurance plan providing protection from theft, calamities, accidents as well as third-party protection. Alongside this, it also provides the following;
• Personal Accident Coverage: This offers solatium of hospital expenses and remunerations for permanent disability or demise.
• Own Damage Coverage: This provides coverage to the owner’s two-wheeler vehicle in the event of any type of accident or theft.

Importance of evaluating the effectiveness of the cover

It is undeniably important to evaluate the effectiveness of the cover you are purchasing for your two-wheeler insurance. You must be vigilant and check for long-term policies as it is more beneficial. While most plans are for a period of one year, there are other plans that offer coverage for two or more years also. Thus, evaluating these based on your requirements can be convenient and profitable for you. Another effective method of evaluating the reliability of the coverage you are seeking is by comparing policies. When you compare online two wheeler insurance you will come to understand that third party liability covers have a lower premium whereas comprehensive two-wheeler policies have higher premiums.

Benefits of two-wheeler insurance policies

• Online procedure: With secure payment portals you can apply for an insurance policy and compare them online too. It’s paperless work, inexpensive, saves heaps of time and is extremely convenient. This makes these policies an easy purchase.
• Discounts: Exciting discounts offered on renewal for no claim during the policy term.
• Long-term insurance: You can buy long-term insurance policies offline or online as well. Long-term insurances are more profitable.
• Payment flexibility: Due to the internet, new technologies have made everything easily accessible. Two-wheeler insurance plans cater to this by providing net banking and mobile banking facilities.
• 24×7 service: All these insurers offer 24×7 service for all policyholders.
• Stress-free: You can be at peace knowing that your vehicle is insured, and you are protected from various unfortunate situations and financial stress.

In conclusion, acquiring two-wheeler insurance is highly advantageous as you are safeguarded from adversaries and covered against mishaps. It is necessary for you to compare two-wheeler insurances online and evaluate your needs before buying the policy.