Disclaimer: The above mentioned prices are for a 2 year old Hero Honda Karizma R 223 CC, registered in Navi Mumbai & previous policy has expired.
Two-wheeler insurance typically offers several features to protect your bike and yourself. Here are some common features you will find when you decide to buy two wheeler insurance online.
Two-wheeler insurance offers numerous benefits that provide financial security and peace of mind to riders. Some of the key advantages include:
1). Financial Protection: It shields you from financial liabilities arising from third-party damages, covering legal expenses and compensation claims.
2). Coverage against Accidents: Protects you and your bike from expenses due to accidents, including repair costs or replacement in case of severe damage.
3). Theft and Vandalism Protection: Covers the financial loss if your bike is stolen or damaged due to vandalism.
4). Natural Calamities Coverage: Provides coverage against natural disasters like floods, earthquakes, storms, etc., which can damage your bike.
5). Personal Accident Cover: Offers financial assistance in case of accidental death or disability of the rider or passengers.
6). Peace of Mind: Having insurance provides mental peace while riding, knowing that financial support is available in case of unforeseen circumstances.
7). Legal Compliance: It is mandatory in many countries to ensure that you abide by the law and avoid penalties for riding without insurance.
8). No Claim Bonus (NCB): Rewards you with a discount on the premium during renewal if no claims are made during the policy period.
9). Add-On Covers: Optional additional covers can be purchased to enhance the basic policy, providing more comprehensive protection tailored to specific needs.
10). Value for Money: Considering the potential expenses in case of accidents, theft, or damage, the premium paid for insurance offers significant value by mitigating these risks.
Insurers often provide various add-on covers or riders that can be added to enhance the coverage based on individual needs.
Zero Depreciation Cover: It ensures complete coverage of repair or replacement without factoring in the depreciation value of the bike's parts.
Roadside Assistance: Assists in case of breakdowns, towing services, fuel delivery, etc.
Engine Protection: Covers damages to the engine of the bike due to water ingression or oil leakage.
Accessories Cover: Extends coverage to accessories that are not factory-fitted in the bike.
Return to Invoice: Ensures that in case of total loss or theft, you receive the original invoice value of the bike.
No Claim Bonus (NCB) Protection: Protects the accumulated NCB despite making a claim.
Here is a list of top bike insurance companies along Cashless Garage & Incurred Claim Ratio 2021 - 2022
Choosing the right bike insurance company involves considering several factors to ensure you get the best coverage and service. Here's a guide to help you make an informed decision:
Coverage Offered: Evaluate the coverage offered by different insurers. Consider whether you need third-party liability coverage only or comprehensive coverage that includes damages to your bike as well. Check for add-ons that suit your requirements, like zero depreciation, roadside assistance, etc.
Claim Settlement Ratio: Look for the insurer's claim settlement ratio. A higher ratio implies a better track record of settling claims efficiently. This information reflects the likelihood of your claim being honoured without unnecessary delays.
When purchasing insurance for your two-wheeler, it is important to consider several key points. Begin by assessing your coverage needs, and determining whether basic liability or comprehensive coverage that includes your bike's damages is required. Check for any useful add-ons, such as zero depreciation or roadside assistance, that are tailored to your specific requirements.
Coverage Requirements: Assess your needs for coverage, including third-party liabilities, own damage, add-ons (like zero depreciation), and personal accident cover.
Policy Inclusions and Exclusions: Read and understand the policy terms, including inclusions, exclusions, and limitations to ensure comprehensive coverage.
Premium and Discounts: Compare premiums across insurers for similar coverage. Look for discounts like No Claim Bonus (NCB) and affordability without compromising coverage.
Add-Ons and Customizations: Assess the availability and relevance of additional coverage options or add-ons provided by the insurer.
Policy Terms: Consider the policy's duration, renewability, and any specific terms and conditions that might impact coverage or premiums. Going for longer-term insurance plans may save you money in the long run.
Considering these factors helps in selecting a two-wheeler insurance policy that aligns with your needs, offering comprehensive coverage and reliable service.
If you're looking to purchase two-wheeler insurance online, Coverfox is a popular platform that can help you with the process. To get started, you can visit the Coverfox website or use their mobile app. Once you're on the platform, you'll need to enter your two-wheeler details, such as the make, model, variant, and registration number. After that, you'll need to select between third-party liability or comprehensive coverage and choose any add-on covers you may need, such as zero depreciation or roadside assistance.
By following these simple steps, you can easily purchase two-wheeler insurance on Coverfox and have the peace of mind that you are protected while on the road.
Don’t just restrict your search to Two Wheeler Insurance Companies Near Me, expand your horizons and get the best policy for your budget and needs by comparing hundreds of policies on Coverfox!
This is a Claims Assistance service. You can use this facility to get your damaged car repaired and the claims processed.
For More Details Two Wheeler Insurance Plans
There is no such cheapest two wheeler insurance company in India. The premium of two wheeler insurance depends on various factors such as bike make and model, engine capacity, year of registration, its existing market value, location and the add ons you choose. The cheapest bike insurance though varies from bike to bike, depending on the requirements of the bike owner.
In India, having third party bike insurance is mandatory as per the law. Not having this type of insurance can lead to a legal liability, attracting fine up to Rs. 2,000 or imprisonment up to 3 months.
Yes, if you have chosen comprehensive bike insurance for your bike then the bike insurance company will pay for all the damages caused due to an accident; it will provide coverage for damages caused to your own bike as well as that of the third party.
Bike insurance companies do not check the condition of the bike as they work on the basis of good faith, trusting the customer.
Two wheeler insurance does not provide coverage under the below circumstances:
You can file an FIR report in case of an accident after reporting the claim to the insurance company. The insurance company will then send a surveyor to inspect the vehicle post which the vehicle will be sent to a nearby garage for repair.
