In India, two-wheelers are one of the most convenient ways of transportation. They are quite cost-effective and can keep up with India’s less-than-ideal roads. However, there is no disputing that two-wheelers are also dangerous. Every day, over 1,000 road accidents occur in India, with the majority of them involving two-wheelers.
Investing in bike insurance is one of the finest methods to protect yourself from the financial hazards of an accident. Is this insurance, however, a need or an unnecessary expense? Let us look at five reasons why two-wheeler insurance is a necessary in India:
1. Legally required
According to the Indian Motor Vehicles Act, every mechanised vehicle, including two-wheelers, on Indian highways must have valid third-party insurance. Bike insurance is often divided into two types: third-party liability and comprehensive.
While comprehensive two-wheeler insurance is optional, third-party liability insurance is required. If you are caught driving without valid insurance, you will be fined or your license will be temporarily suspended.
2. shields you from financial liabilities
You will not be obligated to pay the hospital charges or damages of any third party involved in the road accident if you have third-party liability insurance. These expenditures will be covered by your insurance company.
Furthermore, if you choose the comprehensive policy, the policy will cover both your bike and your health. In other words, when you get bike insurance online, you are covered from financial liabilities that may develop as a result of a traffic accident.
3. Defense against natural and man-made disasters
Most comprehensive bike insurance policies also cover your bike against a variety of natural and man-made disasters such as earthquakes, fires, theft, and burglary.
If any of these incidents cause damage to your vehicle, your insurance company will pay for the repairs. If your bike is totaled (lost), the insurance company will pay the IDV to assist you in purchasing a replacement bike.
4. Reasonably priced
People who believe that bike insurance online in India is an unnecessary investment should be aware that these products are also quite affordable. You can also earn discounts like the No Claim Bonus to further cut the premium price.
When weighed against the numerous benefits, there is no disputing that bike insurance is an excellent buy.
5. Purchase and renewal online
It is no longer necessary to visit an insurance provider’s branch office to obtain or renew your bike insurance. You may now obtain bike insurance online in a quick and easy method.
Simply complete the application or renewal form, pay the premium online, and the insurance company will send you the policy documentation. So, if you wish to avoid purchasing or renewing bike insurance owing to the time-consuming process, you no longer have to.
Ride legally and safely with two-wheeler insurance.
As you can see, there are various compelling reasons to purchase bike insurance from a reputable insurance provider. After acquiring the policy, make sure to renew it on a regular basis to ensure that you are always insured.