Two Wheeler Insurance Plan Price:Â The need for two wheeler has increased a lot in today’s time. Along with this, there has also been an increase in accidents caused by two wheelers. Two wheeler insurance policy is taken so that there is no financial loss due to this.
Two Wheeler Price: Crores of people use two wheelers in India. Commuting is very easy with the use of a two wheeler. Two wheeler insurance plan is a general insurance that provides protection to the insured two wheeler and its owner/driver against unfortunate events. This includes road accidents, natural calamities which may require unforeseen expenses for the owner. This coverage is offered for a range of two wheelers like motor cycles, scooters etc.
Two Wheeler Insurance Policy
The need for two wheelers has increased a lot in today’s time. Along with this, there has also been an increase in accidents caused by two wheelers. Two wheeler insurance policy is taken so that there is no financial loss due to this. A two wheeler insurance policy mitigates the financial and legal burden that may result from damage caused to the owner/driver of the insured two wheeler, the insured vehicle, or any third party or their property.
Importance of Two Wheeler Insurance
According to the Indian Motor Vehicles Act, 1988, third party vehicle insurance cover is mandatory for any two wheeler plying on Indian roads. Two wheeler insurance plans not only provide coverage against third-party liability but also provide comprehensive coverage to the owner/driver of the two-wheeler. These plans cover the cost of repairs due to accidental death or disability of the owner/driver and damages caused to the insured two-wheeler.
Types of two wheeler insurance
Whereas basically two wheeler insurance is divided into two parts. Each of these two types offers a different set of benefits and perks to the policyholders. This includes Third-Party Insurance and Comprehensive Two-Wheeler Insurance. In such a situation, to avoid any problem, you should know which Two Wheeler Insurance Policy you are taking.
Third-Party Insurance:
This plan covers the insured and the owner/driver of the two-wheeler vehicle against third party liabilities arising out of an accident, causing damage or loss to a third party or its property. In this type of policy, only third party damages caused to the insured vehicle are covered. Any damage caused to the insured two-wheeler is covered only in a comprehensive plan. Third party two-wheeler cover is mandatory.
Comprehensive Two-Wheeler Insurance:
Also called a package policy, this two-wheeler insurance provides comprehensive coverage to the insured two-wheeler. Apart from third party liability cover, the plan also covers disability or death of the owner/driver and damages caused to the insured two wheeler due to accident, theft, riots, fire, earthquake or explosion. There are many add-on benefits like roadside assistance cover, towing assistance, zero depreciation cover and emergency fuel assistance.
