Why should i buy two wheeler insurance

Why should I Buy Two Wheeler Insurance?

Here are some top reasons to buy Two Wheeler Insurance: Mandatory on Legal Ground Buying two wheeler insurance is mandated by the law. On the legal ground, you need to buy insurance to get the cover against the third-party liability. It helps you get away from legal penalties that may impose due to loss/damage to any third-party.

Ensures Financial Safety By choosing a right two wheeler insurance, you need not to worry about financial losses that may occur due to any third party liability or damage/theft to your vehicle. A comprehensive two wheeler insurance provides absolute financial protection.

Peace of Mind Having a comprehensive two wheeler insurance ensures peace of mind, as it provides complete protection in case of an accident.

The insurer compensates you against the financial losses that may occur due to third party liability and own-damage as well.

What kinds of Two Wheeler Insurance can I opt from?

Basically, there are two types of Two Wheeler Insurance.

Liability Only Policy/ Third Party Two Wheeler Policy Third Party Two Wheeler Insurance is a statutory requirement as specified under the Motor Vehicles Act. Under this insurance policy, the insurer covers the insured against the bodily injury/death and property damage caused to a third party.

Comprehensive/ Package Two Wheeler Policy This insurance policy provides an absolute comprehensive protection, as it covers both the third party and own damage cover.

Third Party Liability Cover: It provides cover to the insured’s two wheeler against any damage/loss incurs to a third party bodily injury and property damage, arising on the part of your fault.

Own Damage Cover: It provides cover against loss/damage caused to your insured two wheeler due to the natural Calamities like fire, explosion, lightning, etc. and shock damage due to earthquake and man-made calamities accounting to burglary, housebreaking, theft, riot or strike, accident by external means, malicious act, terrorist activity and damage during travel by road, rail, inland-waterway, or air.

What are the Benefits of Buying a Two Wheeler Insurance?

Buying a Two Wheeler Insurance is quite imperative to ensure that you can drive your vehicle without any worries. Here are the key benefits of buying a Two Wheeler Insurance.

Covers Third Party Liability This insurance policy provides protection against liability that may arise due to bodily injury/property damage caused to the third party. You need not pay off towards the third party liabilities, the two wheeler insurance covers you against these expenses.

Covers Vehicle Damages You never know when you may have to face an accident that makes damages to your two wheeler. By having a two wheeler insurance, you need not to pay for damages to your vehicle. This policy covers repair costs for your two wheeler.

Cashless Claim Benefit No more worries for getting the vehicle repaired. By choosing comprehensive two wheeler insurance policy, you have the option to get the cashless repairs for your vehicle at any of the network garages listed with the insurer.

Add-on Covers Several add-on covers available with a two wheeler insurance that helps enhance protection for you and your vehicle.

No Claim Bonus Benefit With a claim-free policy year, you can get No Claim Bonus. It helps you avail discounts on your vehicle’s future premiums.

[Source: https://www.comparepolicy.com/motor-insurance/twowheeler-insurance]

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