Two-wheeler Insurance

Top 3 Tips to Avoid Traffic Fines for Life!

Aditya Nair — Wed, 09 Oct 2019 07:27:00 GMT

Top 3 Tips to Avoid Traffic Fines for Life!

09-Oct-2019 09-Oct-2019'

When it comes right down to it, you are going to be spotted by traffic police only when he or she feels you have broken a traffic rule. Therefore, the #1 tip to avoid traffic fines is pretty obvious:

#1 – Don’t Break Traffic Rules

This is a self-explanatory point that needs no elaboration. Includes:

Don’t park in a no-parking zone
Don’t ignore red signals – they are there for a reason
Don’t ride without a helmet
Don’t drive/ride without a valid license and RC (to the policeman, this implies that the vehicle is stolen)
Carry the latest PUC certificate at all times
And many more (explore http://bit.ly/35o4UOr)

#2 – Never Leave without a Challan or e-Challan

For any police officer to fine you, they have to give you an acknowledgment of the money you have paid as the fine. This not only ensures transparency in a system that has notoriously lacked transparency for decades, but it also gives you a paper trail in case you want to fight the fine legally.

The challan needs to contain the following details:

Name and address of the court where the offense will be put on trial (typically within 24 hours)
Details of the offence you have been charged under
Date of the trial
Vehicle details
Your name and address
Name and signature of the officer delivering the challan
Details of the documents retained by the officer (like your driving license)

Naturally, point #2 means do not indulge in bribing.

#3 – Always Have Insurance

The reason for this is two-pronged:

If you are asked to produce a valid insurance policy for your vehicle and you cannot, the previous fine was Rs 1,000. The newly empowered MV Act has increased this fine to Rs 2,000.
Very Important: If you are involved in an accident where the fault was yours and you do not have insurance, the courts are well within their rights to attach all your worldly possessions to repay the victim’s damages. If the injury is serious and leads to disability or death, the Human Life Value (HLV) will have to be paid for by you, which could go to lakhs or crores of Rupees, depending on who the victim is.

For this reason, the Centre realized the wisdom of mandatory third-party (TP) insurance for any and all vehicles plying on Indian roads. And TP insurance is one of the cheapest policies out there, with costs starting at Rs 482 a year for privately owned two-wheelers and Rs 2072 a year for privately owned cars.

Get easy-to-compare vehicle insurance quotes here:

Queries? Our experts are just a phone call or email away:

M – 86559-86559
E – support@oneinsure.com

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Quick and Useful Tips about Two-Wheeler Insurance

Aditya Nair — Mon, 29 Jul 2019 07:11:00 GMT

Quick and Useful Tips about Two-Wheeler Insurance

29-Jul-2019 29-Jul-2019'

Aditya Nair

If you ride a motorcycle in India, it is mandatory to have third-party insurance. This insurance protects you from financial liability in case you cause damage to third-party property or life while riding. Insurers also provide comprehensive cover for riders, which is non-mandatory but comes highly recommended.

When renewing your two-wheeler policy, it is important to avail NCB discounts, which is a bonus you receive for claim-free years. This bonus takes the form of reduced premiums during renewals.

Also remember that third-party two-wheeler insurance, which is mandatory, is extremely pocket-friendly. Because the Insurance industry has a diligent regulator like IRDAI, two-wheeler insurance quotes that you get from various insurers will more or less provide the same benefits in the same premium range.

Let’s explore more about these concepts in this short but informative piece.

Third-party Two-wheeler Insurance

As mentioned earlier, the third-party insurance covers your financial liabilities in case you are involved in an accident and you cause damage to property or life. This financial liability may run into lakhs of Rupees, which is the risk the insurance company bears on your behalf in exchange for the regular premiums you pay.

Note that according to law, purchasing a 5-year third-party insurance is mandatory when buying a new two-wheeler.

Comprehensive Two-wheeler Insurance

Apart from third-party (TP) insurance, insurers also offer own-damage (OD) insurance. The combination of TP and OD two-wheeler insurance is known as comprehensive insurance. This insurance also comes with many add-on coverages that you can add to the base insurance policy by paying a little extra premium. The following is a list of coverages that you get above and beyond third-party insurance coverages when you purchase comprehensive two-wheeler insurance:

Damage to self, resulting from an accident where the insured two-wheeler is involved
Damage to the vehicle, resulting from an accident where the insured two-wheeler is involved
Coverage in case of vandalism and theft
Coverage in case of natural disasters like floods, storms, hurricanes, tornadoes, earthquakes, and so on
Coverage in case of fire, explosions, and civil commotions
Falling objects
Terrorism

As the name suggests, comprehensive two-wheeler insurance is a product that protects you 100% on the road. While TP insurance is for others, comprehensive two-wheeler insurance protects your vehicle and your interests. We highly recommend you opt for comprehensive insurance and have a look at riders like:

Zero Depreciation rider
Return to Invoice rider
Engine Protection rider (especially if you live in heavy rainfall areas like Mumbai)
NCB Protect rider

NCB Discount – The Essentials

As mentioned earlier, NCB benefits are discounts you receive during bike insurance renewal for not raising claims in a year of insurance coverage. No Claim Bonuses take the form of reduced premiums during renewals. This starts with 20% at the end of one claim-free year and goes up to 50% at the end of five claim-free years. This is applicable only on the own damage aspect of insurance and not the third-party aspect.

Moreover, when selling your two-wheeler, remember to get an NCB certificate from the insurer. This will be useful when you buy a new two-wheeler. NCB benefits are transferable. This means that you can avail up to 50% off on the insurance premium for the new two-wheeler you buy. Needless to mention, this will save you thousands when buying comprehensive two-wheeler insurance!

Quick Quotes

Here are the pocket-friendly rates for third-party two-wheeler insurance for 1 year of coverage (based on engine cc):

Less than 75 cc – Around Rs 882
Between 75 and 150 cc – Around Rs 1152
Between 150 and 350 cc – Around Rs 1593
More than 350 cc – Around Rs 2323

Note that you cannot leave the showroom with a new two-wheeler without buying the mandatory third-party insurance beforehand. Generally, dealers will try to sell a motorbike insurance policy along with the vehicle, but it is not mandatory for you to purchase that insurance. You can buy two-wheeler insurance independent of the dealer. Simply call 86559-86559 for guidance or visit our two-wheeler insurance webpage.

You can digitally store policies, pay premiums, and ensure you never miss a renewal by using the OneInsure app for all insurance-related activities.

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To speak with a motor insurance expert, call 86559-86559 or email support@oneinsure.com.

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Motor Insurance Update – Mandatory Personal Accident Cover Raised to 15 Lakhs

Mohit Mishra — Mon, 29 Oct 2018 07:39:44 GMT

Motor Insurance Update – Mandatory Personal Accident Cover Raised to 15 Lakhs

29-Oct-2018 29-Oct-2018'

Mohit Mishra

Following a High Court judgment to enhance the mandatory personal accident cover for personal cars and two-wheelers, IRDAI has decreed that the PA cover be raised to INR 15 lakhs from the current INR 2 lakhs for cars and INR 1 lakh for two-wheelers. Premiums for this mandatory cover will increase to INR 750 per annum from the current INR 100 for cars and INR 50 for two-wheelers. General insurers are required to mandatorily provide it both for Third-Party Liability as well as Comprehensive covers.

Readers should note that Third-Party insurance is unaffected by this ruling and still has to be paid. Moreover, it is also important to know that besides death, permanent complete disability is also covered (permanent loss of the use of two or more limbs due to a vehicular accident). This is a measure to address the issue of underinsurance when it comes to motor insurance.

Naturally, those who want coverage beyond INR 15 lakhs can buy relevant riders by paying higher premiums and get it.

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Two-wheeler Insurance

Top 3 Tips to Avoid Traffic Fines for Life!

#1 – Don’t Break Traffic Rules

#2 – Never Leave without a Challan or e-Challan

#3 – Always Have Insurance

Quick and Useful Tips about Two-Wheeler Insurance

Third-party Two-wheeler Insurance

Comprehensive Two-wheeler Insurance

NCB Discount – The Essentials

Quick Quotes

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Motor Insurance Update – Mandatory Personal Accident Cover Raised to 15 Lakhs