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A complete guide on buying bike insurance online

bike insurance online
bike insurance online

Buying bike insurance online can be a tough task. Finding the accurate dealer and policy can be difficult and require effort and research. These days, you can even find two-wheeler insurance online, but you will have to spend a lot of energy and time learning about the process and different two-wheeler insurances. You can read on as this is a complete guide on buying two-wheeler insurance, which would help you get an easy solution.

Why does someone need two-wheeler insurance?

India is growing each passing day, and you can witness impressive growth seen on the road and construction development industry. However, the traffic rules are not well-develop, and one can always find bumps and different road anomalies. These can cause trouble for skilled drivers. Hence unpredicted situations and accidents are common, therefore an individual must take bike insurance online to gain the best out of such situations. Moreover, the law also motivates and makes it compulsory for people to have their vehicles insured in India. Hence it becomes a legal issue if an individual doesn’t get his insurance. 

Types of two-wheeler insurance

There are two types of insurance policies regarding two-wheelers in India. Third-party two-wheeler insurance policy, comprehensive policy or package policy. The third-party two-wheeler insurance policy financially safeguards you from the harm caused to the third party, any injury or damage is covered. In this policy, all the legal claims by the third party are also covered. 

On the other hand, a comprehensive policy deals with elemental damage to the two-wheelers by any man-made or natural cause. Even matters such as theft and natural calamities such as floods, earthquakes and more are cover in this type of policy. 

How to calculate insurance premium?

The premium of a two-wheeler is calculated in a specific way. The vehicle’s cubic capacity plays a major role in determining the premium of insurance. The city of purchase and different coverage options are among the factors that are consider in the process of calculating the premium. To get your bike insurance online, you need to calculate the premium before investing.

The insured declared value or the IDV also plays a great role. The insured declared value is a certain value that remains constant during the entire policy term. It also denotes a certain value at which the vehicle is insured. Hence this value becomes very important in the calculation of the insurance premium. 

The concept of no-claim bonus

The no-claim bonus is a special discount provided to policyholders that helps them get extra benefits. The policyholders can avail of more than 50% discount throughout the year with such a claim. It will help to get extra benefits in your insurance policy. 

What if an individual sells the vehicle?

People often get confuse that selling the vehicle will lead to the dissolution of the original motor insurance policy. You must remember that you can never transfer your policy if you don’t have the correct papers for your vehicle. On the other hand, when you change your vehicle, the information and the data originally present at the time of the registration of your original vehicle remains constant. When you transfer the ownership of your vehicle to an individual, all your data will be transferr in the new buyer’s name. If you sell your vehicle, all you need is to transfer the name on the policy papers that you are selling it to. 

  • File a claim

The hardest part out there is filing a claim. One must know the exact procedure and how the claims could be file. There are different claim related forms you must fill out to get the benefit of our claim. You will have to fill out the claims and further fill out the information asked by the insurer. There are various documents, such as the FIR and the repair estimate, needed at the time of filing the claim. After the damage, an inspection is done to give the company details and knowledge of all the destruction. Filing the claim is a hectic procedure, and you can get several aids to assist you in the process. 

Renewal also plays a very important role. Big units such as the Bajaj Allianz bike insurance renewal can give you comfort in getting your claims easily. These days, you can file the claim online, and it gives easy access to get the money regarding your insurance. 

Conclusion

If you ride a two-wheeler, you must apply for bike insurance online to get in the safety zone. Remember that insurance policies are specially design to profit you; hence be sure to invest in these schemes.

 

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ritika sharma

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