Riding a two-wheeler is a thrilling experience, but with great fun comes great responsibility. All drivers should have two-wheeler insurance to protect themselves from potential risks. Not to mention the fact that it is mandatory to have at least third-party coverage according to Indian motor laws.
However, with numerous options available on the market, selecting the right insurance policy can be overwhelming. So, what should you do? How can you pick the best two-wheeler insurance for yourself?
The solution lies at your fingertips! With the internet, shopping for insurance has become easier than ever before. In just a few clicks, you can compare different insurance policies, analyze their features, and choose the best fit for your needs and budget. This will ensure that you make an informed decision while making a purchase.
So, let’s explore the simple steps you need to follow to find your ideal two-wheeler policy online.
How To Choose The Best Two-Wheeler Insurance Policy Online?
Here are the simple steps to follow to choose a plan that best meets your needs -
1️⃣ Understand Your Requirements
Choosing the right two-wheeler insurance policy can seem confusing. Thus, it is crucial to understand the coverage you need first and then select a policy that fulfils your requirements. In India, three types of policies are available: standalone own-damage policy, third-party only policy, and comprehensive policy.
- If you already have third-party insurance and want coverage for your own damages, a standalone-own damage policy will be the right option for you.
- On the other hand, if you only want coverage for damages to a third party and/or their property, a third-party only policy will match your needs.
- However, if you have bought a new bike or want maximum coverage for your existing one, a comprehensive policy will be the best choice.
By understanding your needs and the options available, you can make a wise decision and choose a policy that offers the maximum protection for you and your vehicle.
2️⃣ Find Your Match
Once you have identified your two-wheeler insurance needs, you can compare plans from various insurance companies. With the internet, comparing plans online has become simpler than ever. You just need to visit the insurance provider’s website and compare the policies side by side - to find the one that offers the best value for your money.
While doing so, you need to consider several factors, including the Insured Declared Value, the types of add-ons the plan offers, the availability of a cashless facility, any exclusions that may apply, etc. This way you can select a plan that meets your requirements perfectly.
3️⃣ Customise Your Plan
After selecting a two-wheeler insurance policy that meets your requirements, it is important to check the available add-ons if you’re looking to broaden its scope of coverage.
For instance, if you don’t want depreciation to be factored in during claims, you can opt for the Zero Depreciation Add-On. If you want engine damages to be covered, you can go for an Engine Protect Add-On. And so on.
By adding such extra benefits to your policy, you can give yourself added peace of mind. So, carefully review all the available add-ons to know which would work best for you and your two-wheeler.
Note: Such add-ons are available only with a comprehensive policy or a standalone own damage policy.
4️⃣ Purchase The Plan
After carefully reviewing all the details and customising your two-wheeler insurance policy, you can confidently move forward with its purchase. This is the most important step in ensuring that you have adequate protection in the face of unexpected events.
Important Points To Remember
Here are some of the things to keep in mind while purchasing two-wheeler insurance -
Read the T&Cs of the Policy
When purchasing two-wheeler insurance, it is crucial to understand all of the terms and conditions associated with the plan. This involves carefully reviewing the policy documents and clarifying all your queries before investing your money.
Review the Exclusions & Inclusions in the Policy
Before you finalize your two-wheeler insurance policy, ensure you understand the exclusions and inclusions listed in the policy documents. This will help you know what is covered and what is not - so you do not encounter any nasty surprises later.
Provide Correct Information to the Insurer
To avoid potential issues when making a claim, it is essential to ensure that all of the information you provide to the insurance company is accurate and correct. By doing so, you can prevent delays and disputes during the claim process.
Review Policy Details
Once you receive your two-wheeler insurance policy, it is important to carefully review all of the details to ensure that they are accurate and correct. This includes verifying important information such as your name, vehicle’s cubic capacity, and registration number, among other things. Doing this will help you avoid any potential issues or complications in the event of a claim.
Owning a two-wheeler without insurance is like riding on thin ice - risky and prone to trouble. Thus, it is vital to select the right insurance policy that protects you and your two-wheeler. The internet has made this task incredibly easy for you since it has brought the entire insurance industry to your fingertips. With just a few clicks, you can find the best insurance policy for your needs and budget in no time.