Almost all of us have two wheeler in today’s life. It is very important to having two wheeler insurance. So we have to insure our bike or scooter for securing purpose. Two wheeler insurance is an insurance policy that provides financial cover to bike or scooter against physical damage, theft and third party liability.There are lot of two wheeler insurance are available. Most of the insurance company offers various insurance plans for the two wheeler owners. Two wheeler insurance not only provides you security following an accident, but also financially supports your family, if the accident leads to your death.
Two wheeler insurance includes motorbike insurance, sooty insurance and scooter insurance. Securing a good insurance for you and your bike shouldn’t be taken for granted. Now we will discuss about some of the basic insurance for two wheeler:
Third Party Insurance
This type of two insurance only covers the person you have caused damage and their property or vehicle. It does not cover your insurance as well as your motorcycle. Liabilities under two wheeler insurance provide financial cover for the insured vehicle while it is causes injury or death or property damage to a third party.
This type of insurance available for the bike owners who only use their two wheelers occasionally like a hobby.
A comprehensive insurance offers overall coverage for you. Most of the riders choose this type of insurance. It includes covering the damage you might cause to other people’s property or vehicle, and covering your bike insurance as well. Not only accidents, comprehensive plan cover other forms of property damage such as thefts, limited replacement of parts when it needs one and natural disasters.
The liability that the comprehensive two wheeler insurance package offers following benefits:
- Cost of damages and payouts
- Legal costs
- Cost to your employer
- Wage lost
- Medical cost
The only drawback is that, most insurance companies will not honor your insurance if the accident or the damage happened outside of the country. They will not cover for mechanical failure as well.
Two Wheeler Insurance Calculators
Two wheeler insurance calculator is an online tool that gives you an appropriate policy as per the type of two wheeler or the age. It allows the customer to compare the policies offered by the different companies and select the best possible scheme that may be motorcycle insurance, motorbike insurance or scooter insurance. The premium is calculated on the basis of the following details as:
- IDV of the vehicle
- Cubic capacity of the vehicle
- Zone of registration
- Age of Vehicle
Most of the insurers send to the renewal reminders to their customers. Two wheeler insurance renewals were seen as a very tedious job earlier, as clients had to go to the insurance companies or their agents or financial intermediaries for renewal. But now a days , technology has been grown up and alternative distribution channels emerging rapidly, customers are able to renew their policy 24X7. So, they can renew their motor plan coverage as soon as they find it has expired.