What to Consider Before Buying Two Wheeler Insurance Online
Buying two-wheeler insurance online is an overall hassle-free and convenient process. You can go about the process of comparing and buying the best two wheeler insurance coverage for your needs online from the comforts of your home or office. However, given the plethora of options available in the market space, it is essential that you consider some important factors of purchase before you steer yourself forward.
For instance, it is important to assess the tenure of coverage, inclusions, and exclusions of the plan, underlying terms and conditions, IDV or Insured Declared Value, the ease of claim settlement, the amount of coverage to meet up with future financial needs, and so forth before freezing your buy.
What follows will help you figure out the best plan for yourself.
What Is Covered By Two Wheeler Insurance Online?
Buying two-wheeler insurance online is a simple affair as almost all-necessary information and insurance comparison tools are available online on insurance aggregator sites like Coverfox.com. Having two-wheeler insurance is obligatory as per the Indian Motor Vehicles Act, 1988. Here, we have a quick rundown of some important things covered by two wheeler insurance online plans.
1. Basic and Comprehensive Insurance Coverage
All two wheeler insurance online plans provide third-party liability cover to take care of the financial consequences of damages to a third party property or person. In addition, you can seek cover for the damages caused to yourself or pillion riders in the event of an accident in which you are at fault.
The coverage for two wheeler insurance plans also extends to natural calamities like floods, storms, landslides, lightning, etc. You are also covered against strokes of ill luck such as protests, housebreaking, terrorist attacks, riots, malicious activities, theft, burglary, etc.
2. Add-ons at Extra Premium
Several add-on covers can be opted for when you choose to buy or renew two-wheeler insurance online. These add-ons can be availed of by paying an extra premium amount. Some of the most popular add-ons include zero/nil depreciation cover, personal accident cover, key replacement cover, no-claim bonus protection cover, roadside assistance cover, anti-theft device cover and return to invoice cover.
Take your pick in line with your needs or simply go for them all if your budget permits. Though these add-on coverage products are not obligatory, they succeed in enhancing the value of your policy manifold. To cite an example, as all two-wheelers have a depreciation value, it is recommended that policy buyers opt for zero-depreciation cover to aid their claim filing process.
3. Third-party Liability Two Wheeler Insurance Online Coverage
The third-party liability only insurance plans cover liabilities towards damages inflicted upon any third-party vehicle or a third-party individual involved in the accident. Such plans are available at a lesser premium amount as compared to comprehensive two wheeler insurance plans. They do not cover liabilities towards injuries inflicted upon oneself or damages to one’s own two-wheeler.
4. Comprehensive Two Wheeler Insurance Online Coverage
Comprehensive insurance plans for two-wheelers are all-inclusive insurance plans offering a much more far-reaching coverage. They also cover the liabilities toward damages inflicted upon a third-party vehicle or person in the accident.
Along with providing cover towards own injuries, the comprehensive two wheeler insurance online plans also cover damages to your vehicle.
Is Your Plan Amongst The Best Two Wheeler Insurance Online?
The number of two-wheeler insurance providers in the Indian scenario is rising with every passing day. They are bringing forth a variety of products with different features and benefits that serve the cause of different customer segments.
In today’s competitive market scenario, the stage has been set for negotiations with insurance companies for discounts and benefits. The challenge lies in ascertaining the best two wheeler insurance plans for you. As per expert recommendations, the most suitable two-wheeler insurance online is the one that provides the highest coverage at the lowest possible premium cost.
You may want to research online to figure out the best insurance policies and get the quotes from specific insurance companies to compare. As per IRDAI reports, some of the best companies in the market are Bajaj Allianz, IFFCO TOKIO, Oriental Insurance, Reliance, HDFC ERGO, ICICI LOMBARD, New India Assurance and Bharti AXA.
You may review these insurance companies on Coverfox.com to assess their CSR, quality of service, products, customer problem resolving abilities and so on.
So, are you ready to buy two-wheeler insurance online? Go about the act at the earliest.