Premium rates are cost-effective and can be negotiated with insurance companies at the time of purchasing the policy. The premium amount starts from Rs 600.
A valid two wheeler insurance policy is very important for riding a bike in India. Riding a bike without it is considered illegal. Financial coverage is offered by two-wheeler insurance policies in case of any bodily injury or property damage.
Under bodily injuries, pedestrians, pillion and rider are covered. A two-wheeler insurance policy is essentially an agreement between an insurance company and an individual in which the insurer covers any damage caused to the two-wheeler in the event of an accident, natural disaster or theft. Let us know its special importance.
You can avoid financial stress
If your bike or scooter gets damaged or stolen, you won’t have to worry about the cost of repairing or replacing it because the insurance company will take care of it.
There will be legal protection
Considering the reality that it is important to have an insurance policy when riding on the roads, carrying a copy of your insurance policy will ensure that you are legally protected against paying fines or penalties.
You will receive personal accident cover
If you are insured, the insurance company will provide cover (up to a certain amount) in case you suffer total permanent disability. If the policyholder dies, your family will receive the sum assured from the insurance company.
No claim bonus
According to Bank Bazaar, one advantage of a two wheeler insurance policy is that you will be able to enjoy benefits like No Claim Bonus (NCB). If you want, you can also buy two wheeler insurance policy online. If your two wheeler insurance policy has lapsed, you will have to bear all the damage caused to your vehicle. Therefore, always get your insurance renewed on time.
