To get their two-wheeler insured adequately is mandatory by law for every two-wheeler owner. Not doing timely renewal or failing to get your vehicle insured can be penalised by the Indian road traffic authorities.
Additionally, to be eligible for various two-wheeler insurance policy benefits including the coverage, discounts on premium, NCB bonus, etc., it is essential to renew the policy before the expiry date of the existing policy.
Choosing the online mode of two wheeler policy renewal is an excellent way to compare the policy offerings by different insurance companies and get the benefit of the best coverage, premium rates, and several discounts as well.
Importance of covers in two-wheeler insurance
Selecting the right cover is perhaps the most important consideration while choosing the insurance policy for your two-wheeler online.
Having a third party liability cover is generally mandated by law that compensates the physical or property damage caused by the vehicle. However, in many cases, this cover does not protect the vehicle and rider against any other type of damages. It is, therefore, advisable to go for a comprehensive two wheeler insurance policy that provides both the mandatory third-party cover and all other types of damages sustained to your own two-wheeler.
Beneficial Covers in Two Wheeler Insurance Online
Although there is a range of covers available for two-wheeler owners to avail the maximum benefit of their insurance policy, the main ones include:
a) Own damage cover for two-wheeler
This is one of the beneficial covers to opt for while buying two-wheeler insurance online. It provides coverage against losses/damages caused to a two-wheeler during below instances:
- Road accident caused by external means.
- Various natural calamities such as earthquake, fire, flood, etc.
- Any type of damage during travel by road, water, rail, etc.
b) Nil or Zero Depreciation cover
In general, the cost for vehicle depreciation and replacement of new parts is covered by the rider or owner. However, if you want this cost to be covered by your insurance service provider you can add nil or zero depreciation cover to your existing two-wheeler insurance policy.
By paying the extra amount of premium as decided by the insurance company, you get the coverage for various repair costs such as plastic, glass, or rubber components of the two-wheeler
c) Additional Covers
While choosing your two wheeler insurance online, there are various additional covers available which need to be considered. Some of them include:
- Fire Cover
- Collision Cover
- Insurance against the pillion rider
Policyholders have an option of picking any or all of the above additional covers based on their specific requirements. Once you have a basic understanding of the concept of the two-wheeler insurance and plans available, the next step is to pick the right policy that allows you to get the most out of your two wheeler insurance plan.
Hospital Covers in Two Wheeler Insurance Online
Buying two-wheeler insurance policy online requires a number of factors to be taken into consideration. From the choices available, it is always better to go for comprehensive two-wheeler insurance instead of third-party insurance as it provides various hospital covers in addition to other benefits.
Most of the insurance service providers offer various add-on covers to make the two-wheeler insurance policy more useful for the policyholders. Some of the excellent hospitals covers available while buying two-wheeler insurance online include:
a) Medical cover in case of accidents
To deal with the huge medical expenses in case of accidents involving the two-wheeler, insurance companies offer medical cover as the add-on while you buy the policy online. In most cases, it covers all the costs related to medical treatment of the policyholder caused by the accident.
b) Cashless hospitalization cover
An excellent cover to add to your online two-wheeler insurance policy, it provides the benefit of cashless hospitalization to provide the much-needed financial assistance for treatment and other medical expenditure.
c) Personal accident cover
This is another excellent cover you can opt for while buying your two-wheeler policy online. Driving on Indian roads involves great risk for the riders and pillion both with high chances of fatal injuries. The comprehensive personal accident cover offers excellent financial assistance in case of full or partial disability caused during an accident.
To Sum it up
To buy or renew your two-wheeler insurance policy online, it is essential to make a quick comparison of available plans from leading service providers for getting the benefit of the best coverage. Reputed online insurance aggregator websites such as Coverfox.com allow quick access and easy comparison of various options available from multiple service providers. Once selected, read the terms and conditions mentioned on the website of the company to understand the exact process of buying or renewing your two-wheeler insurance policy online.