While a car is a favorite vehicle for people, one cannot deny the importance and convenience of having a two Wheeler at their disposal. Traffic congestion is not a problem when you are travelling in a two wheeler and it is also economical compared to a car.
Under the Motors Act, it is mandatory to buy a two Wheeler Insurance plan when you buy two-wheeler. And unlike archaic times, you can compare two wheeler insurance online and then buy it. The benefits of having two wheeler insurance are plenty as discussed below.
If you are still struggling with the question of ‘why’ when it comes to a two Wheeler Insurance Plan, then these benefits will help you clear up your mind.
· You get coverage on partial or complete loss of your vehicle in an accident or theft.
· Cashless claim service and stress-free inspection.
· You might get good deals and offers when you opt for renewal of your insurance.
· It gives you coverage on third party bodily injury or third party damage to your vehicle.
· Lost key assistance.
· Other benefits as well.
The need of insurance arises from the fact that your vehicle can be in an accident and or theft any time. To protect it from third party damage and also cover any major loss to your vehicle.
Before you set out on the quest to buy a two wheeler motor insurance, you need to familiarize it with the basic terminology of it.
· Coverage:
It is another term for the financial protection you get under the plan that you go for. The coverage is provided against any damage done to the vehicle either due to natural calamity or man-made one. Since the coverage differs under every plan, you need to compare two wheeler insurance online before buy two wheeler insurance plans online.
· Premium:
The premium is what you pay for the insurance and it differs depending on the make and model of your two wheeler. It is decided by the IRDA, hence there is no major difference between the premiums set by every company.
· Exclusions:
This is what tells you more about the insurance you are buying. The terms and clauses where you won’t be given a protection is mentioned under exclusions. The normal terms for which you get the exclusions are wear and tear, damage due to drunk driving.
Still thinking? Go ahead and buy the insurance cover and enjoy the benefits.
