Facts You Didn't Know About Two Wheeler Insurance
- Author :
- TATA AIG Team
- Published on :
Bikes are one of the most preferred modes of transportation as they provide ease of navigation through traffic. But driving a two-wheeler comes with its own set of risks. It is essential that you have the right bike insurance plan while you drive on the roads in India.
Having third-party insurance for the bike is compulsory as per the law. But you can always choose a comprehensive bike insurance plan for all-around protection while you drive. However, while purchasing two-wheeler insurance, there are some facts that you must know.
With Tata AIG, you can buy bike insurance online in a few minutes without any hassles. You can also renew your existing online insurance for the bike. Moreover, if you want to avoid the hassle of renewing the policy every year, you can opt for long-term two-wheeler insurance that insures your bike for two or three years.
Now, let us get into the bike insurance facts that you must know.
Bike Insurance Facts that You Must Know
While purchasing two-wheeler insurance online, the things that a policyholder considers include coverage, exclusions, and inclusions. But there are other bike insurance facts that you must take into consideration. Some of these unknown facts are:
- You can customise the two-wheeler insurance policy
The premium of your two-wheeler insurance online depends on factors like the capacity of the engine, the model of the bike, geographical location, etc. But you must know that you can always customise your bike by adding riders to the insurance for your bike to enhance the coverage. For example, if you have an expensive sports bike, you can opt for a zero depreciation add-on cover, engine protection add-on cover, anti-theft device add-on cover, etc.
- Avail cashless facility with your bike insurance
Many insurers in India offer a cashless facility with their bike insurance plans. This means that if you get your bike repaired at one of the network garages of the insurer, you will not have to pay money from your pocket, except for the expenses that are not mentioned in the plan. For example, Tata AIG has a network of 7500+ garages where you can avail of the cashless claim facility.
- You receive legal protection under the two-wheeler insurance plan
If your vehicle causes damages or injury/death to a third-party vehicle or person, it can lead to legal consequences. In such cases, the third-party online insurance for the bike provides you with legal assistance.
- Buying insurance for the bike from your bike dealer is not compulsory
Many people think buying two-wheeler insurance for the bike from the bike dealer is compulsory, but that is not the case. You can compare online insurance for the bike and choose a policy that is suitable for you. With Tata AIG, you can buy two-wheeler insurance online with ease.
- The standard policy does not cover the engine of your bike
The engine is one of the most expensive parts of your bike. It can cost you a lot of money to get it repaired or replaced in case of an accident. But these costs are not covered under the standard two-wheeler insurance plan. You need to opt for an engine protection cover to minimise the costs for the repair or replacement of the engine.
- You cannot file claims for any damages outside the geographic location mentioned in the plan
This is one of the exclusions that people generally tend to ignore. There is a geographical limit mentioned in the online insurance for the bike. Any claims that you make outside the defined geographical location will not be accepted. The insurer is only liable to cover any losses that arise within the mentioned geographical location.
- The bike insurance premium might rise if the policy gets lapsed
It is important to renew your two-wheeler insurance on time so that you can remain protected. In case you do not do so, any cost of any damages that occur will have to be borne by you. Also, your premium might increase. Moreover, if you do not undertake the renewal of your two-wheeler insurance online within the grace period, you will lose all the bonus that you have accumulated.
- There are ways to reduce the premium of the insurance for the bike
There are some ways in which you can reduce the premium of your two-wheeler insurance. You can increase the voluntary deductible, accumulate more NCB, and undertake the policy renewal before the date of expiry. These tricks might be helpful in lowering your bike insurance premium. With Tata AIG, you can use the premium calculator to understand the premium that you need to pay for the bike insurance policy,
- Depreciation may lower the claim amount
Depreciation leads to a reduction in the market value of the two-wheeler because of the wear and tear that happens regularly. While you file a claim, the depreciation of the bike is taken into account, and it has an effect on the amount of the claim. Thus, opting for a zero depreciation cover might be helpful for you.
- The Roadside Assistance Cover offers many services complimentary
If you choose roadside assistance cover with your bike insurance plan, there are some free services that you can avail of. These services include free towing, repairs on the spot, and alternate provision support. Thus, read the inclusions properly to know all about the inclusion in the cover.
Having two-wheeler insurance online is important to secure yourself financially while you are on the road. It is essential to know all the bike insurance facts so that you can understand the coverage of the policy better and take steps to enhance it. While buying online insurance for your bike, it is important to pay attention to details like the IDV, NCB, and riders.
With Tata AIG, you can compare different plans using the two-wheeler insurance premium calculator and choose the right policy for yourself. You can also check the network of garages offered on the website. So, choose the right policy, understand the coverage, select the rider, and be safe while you are driving.
Disclaimer / TnC
Your policy is subjected to terms and conditions & inclusions and exclusions mentioned in your policy wording. Please go through the documents carefully.