Insurance for Two-Wheeler

Features of Best Insurance for Two-Wheeler | Chola MS

Features of Best Insurance for Two-Wheeler

A bike insurance policy is designed to safeguard your insured bike from any losses arising from unanticipated events including accidents, natural disasters, man-made catastrophes, etc. It acts as a safety net, providing compensation for harm done to you and your bike, as a result of any unfortunate mishaps, allowing you to relax even in the midst of a crisis. Additionally, the Motor Vehicles Act of 1988 has made purchasing a two-wheeler insurance policy for your two-wheeler a mandatory requirement for driving on public roads in India. Thus, you must purchase bike insurance if you intend to use your two-wheeler. Let’s take a look at the key features any best two-wheeler insurance policy should have.

Features of Best Insurance for Two-Wheeler

The policy insured receives extensive coverage and a variety of advantages when they purchase a bike insurance policy. Here are some of the key features of a best bike insurance policy:

Affordable Premiums:

The policy premiums should be affordable on the policy owner’s wallet. Additionally, the policy provider must provide substantially lesser prices or some discounts during festivals or other promotional activities.

Easy Claim Settlements:

The policy provider you choose should make every effort to resolve all disputes as quickly as possible. Companies generally ensure that the claims are settled sooner by employing a number of trained personnel in this sector. These are possibly the reason why a lot of insurance providers available have a high claim settlement ratio, which has become a key factor that determines the choice of the policy provider.

The benefit of a No-Claim Bonus:

One of the primary advantages of responsible driving is the no-claims bonus. If an owner doesn’t file a claim during the course of a policy year, they are entitled to a number of discounts and additional advantages when the policy is renewed.

A Broader Coverage:

The key feature of any bike insurance policy should be its exhaustive coverage that offers a wide range of protection, for both the third party and the first party i.e., the policyholder or you and it also depends on the kind of policy coverage you select.

Provision for Good Add-On Covers:

One policy might not cover all of your varied expectations. This is why insurance providers allow the provision for an additional or extra bed of protection with the add-on covers. You can purchase from a variety of add-on covers, like the zero-depreciation cover, return to invoice cover, no-claim bonus protection, engine protection, roadside assistance, etc., based on your needs and requirements.

Provision for Cashless Claims:

One of the better advantages of getting a bike insurance policy these days is the provision of cashless claims. As the name suggests, a cashless claim has made it possible for bike owners to easily get their bikes fixed – repaired or parts replaced without having to worry about the repair costs if the said repairs are being fixed at a network garage. You are not required to pay for the completed repairs at any of the insurance company’s network garages. The respective insurance provider pays all charges and settles the invoices directly with the garage.

A bike insurance policy offers a wide range of protection, for both the third party and the first party i.e., you or the policyholder, saving them from any unfortunate situations involving their insured vehicle.

Share your love
Christophe Rude

Christophe Rude

Articles: 15885

Leave a Reply

Your email address will not be published. Required fields are marked *