Explained: How Two Wheeler Insurance Covers You And Why You Must Get It

Explained: How Two Wheeler Insurance Covers You And Why You Must Get It

As you start your quest for the two-wheeler insurance mandated by Motor vehicles Act, 1988 act, it is important to understand how it covers you and why you must get it at the earliest. The article will help you assess the extent of financial risks that you have to bear in the event of an accident or mishap, the expected cost of the premium, and the extent of coverage that will be provided to you. 

Are you looking for the right policy to buy or renew your two wheeler insurance? Here we throw light on some important aspects of coverage for your vehicle’s protection.

Safety from Unexpected Risks and Liabilities

There are certain things that are covered by default under most two-wheeler insurance plans available in the marketplace. However, there are some aspects of two-wheeler protection that may be left uncovered in case you overlook what a particular type of insurance provides.

In general, there are two types of two-wheeler insurance plans; third party liability insurance and comprehensive insurance.

Cover for Third Party Liability

In case of an accident involving your two-wheeler, if any third party sustains either non-fatal or fatal injuries, or in case any third party property gets damaged, the coverage provided by this insurance plan will come into play. As per the underlying terms and conditions of the plan taken up by you, you insurance provider will care of the above-mentioned third party liabilities.

However, there is a limit to the safety from unexpected risks and liabilities in this case. Do know that if you are also injured in the accident or mishap, you will not get any cover for your personal accident costs. In order to attain the safety for yourself, you need to opt for a personal accident cover as well. Given this, you should renew your two-wheeler insuranceaccordingly.

Personal accident cover in two wheeler insurance

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A two-wheeler insurance policy with personal accident cover protects you, the insured person, in the event of a road accident. The cover will be provided for total or partial permanent disability and also in the worst-case scenario of death. In certain cases, the cover may also include protection for the pillion rider.

Own Damage or Comprehensive Insurance Policy

If you wish to renew your plan for two wheeler insurance with a plan that covers loss or damage to yourself as well as your vehicle, then a comprehensive insurance plan is what you should seek at the earliest. This comprehensive coverage option will help you get cover for man-made and natural calamities alike. These natural calamities or events would include floods, lightning, hurricanes, fire, earthquakes, typhoons, self-ignitions, earthquakes, inundations, and so forth.

Additionally, the man-made calamities would cover different kinds of harm or damages inflicted by and because of humans. These include thefts, strikes, collision, malicious acts, etc. The cover would also be provided for damage caused to your vehicle while it is in transit via road, rail, air, or water.

A Small Premium for a Large Coverage

The accident risks for scooters and bikes are varied and encompass several areas of concern. Fortunately, it is possible to attain a large coverage for a small premium if you compare different plans before you go ahead and renew your two wheeler insurance. Insurance comparison portals like Coverfox.com help you assess and compare the premium with other insurers as per the policy inclusions and your vehicle’s insured declared value.

It is essential to remember that when the time for processing arrives, your insurance provider will evaluate the vehicle’s age, so file the details accurately.

Additionally, the more experienced you are as a good bike rider, the less risky will you be in the insurance company’s eyes. This effectively means that a lower premium and higher coverage will be possible if you maintain a clean record.

Get Mandatory Cover on the Double

You may want to go online to compare various plans before you go for insurance renewal of your two-wheeler. Purchasing insurance online helps you get a much better deal at most times. You can work out your essential cover requirements, protection for add-ons, the period of protection, etc. in line with your budget on Coverfox.com and related sites. Are you ready to buy or renew bike insurance right away?