What is a Two Wheeler Motor Insurance Policy?
When you buy a Vehicle there is some sort of Financial Risk involved (Eg, Accident, Theft, etc.). In the event of an accident, if there is any physical damage to the vehicle or person or in case the two-wheeler is stolen these losses are faced by the insured. Such losses are covered under a Motor Insurance policy. Under the provisions of the Motor Vehicle Act, all vehicles which are operating in public places should have a third party liability cover. However, we would recommend you to opt for a Comprehensive Cover which will include accidental damage to the vehicle, loss due to Natural/ Un-Natural Calamities, Theft and Third Party Liability in case there has been any unexpected event.
What are the Different Types of Two Wheeler Motor Insurance Policy?
Third Party Two Wheeler Policy
As stated in the Motor vehicle act of 1938, a third party car insurance is a mandatory cover for any vehicle operating in the public places. It covers the insured against losses incurred towards Thrid Party Property or Individual due to an accident.
Comprehensive Two Wheeler Policy
A Comprehensive Two Wheeler Insurance Policy covers all types of liabilities like Damage to the vehicle, Personal accident damage to the owner and passengers, theft, etc.
Smart Buying Tips for a Two Wheeler Motor Insurance
Keep Documents Handy
Keep Copies of all the essential documents like - Driving License, Previous Insurance Copy, RC Book, etc. handy.
Renew on Time
Renewing on time helps to protect your vehicle and keep your NCB intact. Set reminders for your car insurance and avoid any delay in paying the premium.
Avoid any 'False Declaration'
Always provide appropriate information about your vehicle and the past history. In case, if you have hidden any information, the company might decline your claim & cancel the policy.