4 min read
Updated on Dec 19, 2022
Insurance is a technical concept. This is the primary reason that many individuals lack the essential knowledge about the subject. But one thing that every bike user knows is that nowadays maintaining valid insurance is mandatory as per the Motor Vehicles Department rule. Before you purchase a policy, you have to consider certain major factors.
Two wheeler insurance policy plans can be classified into two types:
The comprehensive plans are lucratively designed with several types of additional benefits, technically termed as add.-on. Compare two wheeler insurance policy online to grab the best deal. Some of the popular Add-ons include:
You can enjoy certain types of discounts on the premium value of the plan by online purchasing of the plan, during the installation of the safety devices; by using the accumulated NCB or while buying a long-term policy. You can also avail insurance brokers online.
The claim settlement procedure is one of the most vital steps in this field:
IDV stands for the current market price of the concerned vehicle, i.e., the maximum limit that you can claim during the complete loss of the bike.
Depending on the engine capacity of the bike, the premium value is decided. There are three categories—0-150 cc, 150-350 cc and 350 cc and above. You can also avail insurance brokers online for detailed confirmation.
In case, you feel that the current plan coverage is not sufficient enough, you can extend it by adding riders to it, costing an extra premium value. You can consult insurance brokers online for detailed clarification.
You can compare two wheeler insurance policy online for buying the best. It is fast, simple, cost-effective, hassle-free and requires minimal paperwork. You can do your research about different plans and companies before buying.
These are the principal factors that you need to consider before buying a two wheeler insurance policy.
Also read: Best Two-Wheeler Insurance Plans in India to Buy in 2022
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PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
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