In India, two-wheelers are considered to be the most convenient and popular means of transportation. Bikes or scooters are widely used form of vehicle that is easy to drive if you do not know any four-wheeler. Two-wheelers are most loved because of the feature of saving you enough time. It is the only vehicle that beats the traffic and reaches to your desired destination in less time. Since it is fast and easy, it also leads to mishappens dangerous accidents which could also result in unwanted damages and heavy expenditures. To avoid such monetary loss, make sure you own an insurance policy for your two-wheeler so that you can travel without having any worries.
In India, it is compulsory to have a Third-Party Liability Insurance policy for your vehicle and if you fail to do so, you will face major trouble in a court of law. The third-party insurance will provide you a protection coverage that prevents your financial losses. It is advised to purchase either a separate own damage insurance policy or an insurance policy that will cover both aspects.
There are two types of insurance policies available in the market, the compulsory Third-Party Liability insurance, and Comprehensive Insurance policy which has some other benefits along with the liability policy. If you want to have both aspects for a single cost, then the comprehensive insurance policy will suit you perfectly.
Now the question arises how can you buy the best insurance policy? The most simple and convenient way is to purchase a two-wheeler insurance policy online. This will make your work simple as you can compare various bike insurance providers and also check out their reviews and comments. But if you are completely new to this field and do not have any appropriate knowledge about the same, you may face some difficulties. Given below are some points you need to keep in mind while buying the best insurance plan.
- Get knowledge about the policies
As mentioned, there are two types of insurance policies available. Before buying one, look for your budget and requirements and then finalize the desired insurance. The comprehensive insurance policy covers both the aspects, the Third-Party Liability as well as the own damage coverage which gives you more benefits.
- Look for the most affordable premium rates
While purchasing an insurance policy, the most important factor which needs to be considered is the premium amount. This amount is paid by the owner who is applying for the insurance policy. The bike insurance company play a scam at this stage at times. They will provide you options for buying low-rate premiums which may lead your final coverage amount to decrease. Therefore, you should always compare and consult while choosing the premium value. You should always choose the policy which offers you a higher Insured Declared Value (IDV).
- Choose the right IDV
The Insured Declared Value is the total amount you can claim in case your two-wheeler faces any damage or robbery. Over time IDV gets reduced through devaluation which results in to decrease in the premium value as well.
Conclusion
These are some of the points you need to consider while buying bike insurance. If you don’t have, get it at the earliest and travel with out any tension.
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