Benefits of availing a two wheeler insurance policy
A bike is a person’s most loved possession. People spend all their savings in buying the bike of their choice. It has to be the perfect colour, look, style and all advanced features but do we ever think about its security? The only to keep your bike secured is by insuring it with a two wheeler insurance policy.
A two wheeler insurance policy is a cover to protect your bike against all future uncertainties and keep you financially sound. A general insurance product, two wheeler insurance coverage is mandatory in India which means your bike cannot hit the road without a proper insurance coverage for your vehicle.
A lot of bike owners are not aware about what benefits a bike insurance policy offers. Read on to know more about the insurance coverage.
The two wheeler coverage will ensure that you are in no debt, if your prized two wheeler meets with an accident. The insurance coverage will include your protection against damages and destruction's caused due to natural disasters such as earthquakes, floods, storms, landslides etc. some of the efficient two wheeler insurance policies also provides coverage against non-natural disasters such as theft, fire, explosions, terrorist attacks, riots etc. Additionally it also provides a personal accident insurance which is especially for the driver owner. It means that if the driver meets with an accident while riding the bike, he/she will be eligible to claim the financial compensation from the insurance company.
With all of the above benefits, there is another type of coverage known as third party liability. It is the most crucial feature as it ensures your financial and legal safety if there is any damage caused to the third party due to your vehicle. All the losses occurred to the third party will be covered by the insurance provider.
Besides everything you will be entitled for several other benefits if you do not claim any compensation for a year. One of which is no claim bonus, you will be given discount on premium payments if you have security devices to protect your vehicle.