Whenever you are on the prowl across the web, looking for the perfect two wheeler insurance policy for your vehicle, it always is best practice to be prepared with a few basic fundamentals. The vast digital oceans contains more than merely genuine insurance products, in fact the amount of choices that one has on the Internet can cause more confusion than comfort. This is why it is essential to be knowledgeable and adopt a strategy that can help you find the diamond in the rough. Read on to know about the basic aspects to keep in mind when hunting for the right insurance policy for your two wheeler.
There are two types of coverage:
|Third Party Coverage||Comprehensive Coverage|
|i) Covers only 3rd party liability||i) Covers damage to own vehicle apart from 3rd party liability|
|ii) Mandatory by law||ii) Relatively higher premium|
|iii) Covers damage only arising out of vehicular collision||iii) Not mandatory by law|
|iv) Covers damages caused due to theft and natural calamities apart from vehicular collision|
- As laymen we try to buy cheap 2 wheeler insurance policies and do not realise the risks we put ourselves into. We think we are smart by doing it for the sake of the law while we are actually compromising our own safety.
- Thinking smart is the way the world works. Always look out for “no claim” bonus. Every year you do not file a claim during your 2 wheeler insurance policy period, you are eligible for a discount on your next premiums. It increases progressively for each free claim year until your 2 wheeler insurance premium is reduced up to 50%. Now that is smart buying.
- There is a depreciation cover add on available which assures zero depreciation of your two wheeler’s value at the time of theft or total destruction of the same.
- Whenever you are to buy Bharti AXA two wheeler insurance remember to ask the insurer about the aspects that are not covered in the policy. How long does the claim process take? What are the do’s and don’ts for a claim.
- An insurance buyer also has the chance to check the claim settlement ratio associated with a particular insurer in order to gauge the reputation and trust-worthiness of the company. Essentially, the claim settlement ratio defines the number and frequency of settled claims as opposed to unsettled claims from the perspective of an insurer.
So the five things you really need to look out for are:
- Medical Treatment coverage
- Cashless repairs
- No claim bonus
- Depreciation Cover
- Hassle free claim
- Claim Settlement Ratio
You will have your peace of mind and will be able to enjoy your rides in or out of town. Happy riding!