If you use a two wheeler, then you must be taking its insurance every year. If you have not yet taken insurance, or are going to take it, then this news is very useful for you. You must read this..
Two-Wheeler Insurance Add-on Covers: If you have a two-wheeler, then you must take a good insurance policy for it. This gives you many benefits in future. This helps you to complete the legal process and compensate for the financial loss caused by a road accident. With this, you are able to follow the Motor Vehicle Act.
what are the problems
Along with taking a two wheeler i.e. two wheeler (Bike), you should take insurance from a good company. This is very important for the safety of you and your bike. Some two-wheeler drivers are very worried about whether they should buy Third Party Insurance or Comprehensive Insurance Policy or Standalone Policy according to their needs. In this news, we are going to tell you about the insurance according to the need to take the right decision.
This is insurance policy
Third party insurance is a type of main insurance policy. It would be better if you buy it before the vehicle hits the road. Under the Motor Vehicle Act, it is necessary for all two wheeler owners to buy this insurance policy for the safety of their bike. Standalone policy covers own damage. On the other hand, comprehensive insurance policy, standalone and third party insurance is the same combination of both these policies.
First Party Insurance
The installment of First Party Insurance is slightly higher than Third Party Insurance. At the same time, it has many advantages as well. In this, complete insurance cover is available in case of vehicle theft, damage in any disaster and accident. Due to which the economic loss is reduced.
third-party insurance
Third-party insurance is cheaper than first party insurance. In this, only the loss caused to the third party is compensated. It does not cover damages caused to your vehicle. As per the traffic rules, every vehicle owner should have at least third-party insurance. Although taking an insurance policy depends on you, but taking first party insurance is most beneficial.
this is the advantage
Using the bike every day reduces its value. The value of the bike depreciates with the passage of time. In this case, in addition to the main insurance policy, the add-on ‘Zero Depreciation Insurance’ bought by the insurance company covers 100 percent damage to everything else on your bike except the battery, tubes and tyres. On the other hand, in case of damage to the battery, tubes and tires of the vehicle, this add-on will cover only 50 per cent.
Unlimited Cover
Zero depreciation insurance cover for the bike can be opted for with a standalone or comprehensive policy. Most insurance companies allow a maximum of 2 zero depreciation insurance covers during a tenure, there are some insurance companies that allow unlimited cover during a tenure.
this is the loss
Previous bike accidents and insurance claims taken affect the premium for new bike insurance. If your bike has met with an accident earlier and you have already taken a claim from the insurance company, then if you go for re-insurance, you will have to pay a higher insurance premium for the bike. This must be taken care of.
