Two Wheeler Insurance Key Points
Best Motorcycle Insurance in USA
In two-wheeler insurance, there is a contract between you and the insurance company in which you have to deposit the amount of premium on time and in return the company promises to give you financial help in case of an accident of your bike.
Bike Insurance also protects you from the financial loss of a road accident with your car and at the same time protects you from the loss of your car from incidents like theft and natural disaster.
Two Wheeler Insurance helps you in case of an accident with your bike. Along with this, Bike Insurance also covers the financial compensation of the third party due to you. It also provides protection to your life as well as the lives of others from the collision of your car.
Third-Party Insurance is compulsory for the purchase of vehicles in India. Driving without insurance is a punishable offense under the Motor Vehicles Act, 1988.
Types of Motor Insurance – Two Wheeler
There are two types of bike insurance in general:
1. Third-Party Insurance – Third Party Insurance
If your bike gets into an accident with another vehicle and you have Third Party Insurance, then the insurance company is compensated for that person’s vehicle and the bodily harm done to that person. Third-party insurance covers only the loss due to the third party due to you and this type of policy does not cover your car and the damage done to you. In this, only the third party is compensated by the company, so it is called third party insurance. If you buy a bike in India, then you must take third party insurance.
2. Comprehensive insurance or full party insurance- Comprehensive and full party insurance
This type of insurance policy usually covers all kinds of damage caused by the bike and related to the bike, that is, compensation for the loss of all the people who were on your car, front vehicle and both, in the event of an accident, insurance is done by the company. In this, compensation for third party vehicle or bodily harm is also done, so it is called Comprehensive Insurance.
Benefits of Moter Cycle Insurance
On theft or loss, you get a claim of almost that amount.
Handles your financial situation in case of an accident.
If you have taken insurance, then you can call the police without fear in case of an accident, but if you have not taken your insurance, then your challan can also be cut.
By taking bike insurance, the risk load on you becomes lighter.
No claim bonus
No Claim Bonus is a bonus or discount given by the insurance company to the policyholder. When a policyholder does not make any claim in his insurance period which is usually 1 year, then the insurance company gives him a discount at the time of the next policy, it is called No Claim Bonus. In No Claim Bonus, any company can give a financial rebate of up to 50%.
The amount of Bike Insurance premium is usually determined on the following basis:
Based on Insurance Coverage (Third Party vs Comprehensive)
According to the age, experience and other facts of the driver/owner of the vehicle
According to your bike or vehicle model
Depending on the place of registration of the bike
Based on the current showroom price of the bike
Depending on the date or year of manufacture of the vehicle
How to buy bike insurance
You can get your vehicle insured by comparing the plans of the following companies.
- TATA AIG bike insurance
- Safeco Insurance Group
- Bajaj Allianz General Insurance
- Allstate – 2nd largest personal lines insurer in the U.S
- Dairyland – Dairyland Insurance
Similarly, there are many companies that do online insurance. If you want to ensure your vehicle, then go to the main website of a favorite company, on the site you will get the option of insurance. On clicking it, you will get your vehicle number, chassis number. And will also ask for the engine number.
After filling this, you will have to give your complete information such as your address, your identity, all kinds of information about the vehicle, after this you will have to make an online payment and you will get your insurance policy number.
Similarly, you can renew your policy as well.
I hope you get rid of Best Motorcycle Insurance.