The traffic density in India increases due to an increase in new riders, resulting from an increase in the number of vehicles on the roads. Moreover, the road conditions in India are also not good enough to ride a bike safely and reach your destination. These two factors make it compulsory to buy a bike insurance policy in India.
According to statistical data, Covid-19 reduces two-wheeler road accidents to nearly 11%. Moreover, the two-wheeler occupants' deaths were to increase by 44% in 2020 compared to the previous year's 38%. These factors show that people are shifting more to private vehicles due to pandemics than traveling in commercial vehicles.
These stats show that buying a bike insurance policy in the current scenario is necessary, and to get an idea, let's see the definition of the BIke Insurance policy.
Two-wheeler insurance is a policy that covers the damage of the vehicle, rider, and passenger at the time of an unpredictable accident. It is an agreement between the insurance-providing company and the vehicle owner to cover his finances when they undergo an accident. A bike insurance policy contains vehicles such as scooty, moped, scooter, motorcycle, etc.
For finding the finest bike insurance plan, you need to compare different two-wheeler insurance plans of companies. A bike insurance policy ensures that you can be stress-free while you go under-recovery during an accident and protect your bank account from emptying. You can compare bike insurance policies of different policy providers by using free website portals and choosing the best that fits your requirements.
Due to the different demands and requirements of a two-wheeler, there are different types of bike insurance policies available to choose the best according to your needs. Bike insurance ensures that you get the best features depending on the requirements of your vehicles. Different types of bike insurance policies are as follows.
Comprehensive Bike Insurance
Insurance policy makes sure that you are getting the maximum coverage during an accident by compensating for expenses arising due to damage sustained by your bike. It covers the liabilities and expenses incurred by the third party and provides them compensation to cover their maximum finances during a road accident. A comprehensive bike insurance policy provides you the advantage of protecting your bike against other damages like accidents, unnatural disasters, fire, theft, self-ignition, natural calamity, explosion, etc.
You can also enhance the quality and efficiency of this insurance by adding the right add-ons with the right amount of funds that you pay to the insurance policy provider. You can get the best bike insurance policy by simply taking intelligent steps like doing market research before investing in the plan. You can also boost the quality of your coverage by paying an additional premium to purchase the add-ons of different types like engine cover, zero depreciation cover, roadside assistance cover, etc.
This bike insurance policy is multidimensional and provides top cover during a road crash. Let's look at another type of bike insurance policy.
Third-Party Bike Insurance
According to the motor vehicle act, basic third-party bike insurance is compulsory in India. When you ride a bike on the significant Indian roadways where everyone wants to be a ghost rider and hardly follows any traffic rules, it becomes compulsory for you to buy a bike insurance policy to cover your maximum expenses during a road crash. A third-party two-wheeler insurance policy is unique in itself due to its feature to cover bodily injury, permanent and temporary disability, and third-party person due to an accident or a mishap with the involvement of the insurance holder's bike.
This type of bike insurance policy also covers the property damage expenses done by the third party up to Rs. 1 Lakh but does not cover damages incurred by the insured's bike or the insurance holder person. You can compare bike insurance policies from different companies to get the best bike insurance policy that covers your maximum expenses in minimum premium.
Own-damage bike Insurance
his type of bike insurance policy ensures that you get the maximum coverage of your bike and passenger during a road calamity to save the policyholder from emptying their pocket. This bike insurance policy provides coverage to own damages sustained by the insurance holder during a two-wheeler accident. Moreover, it also covers the expenses during accidents like theft, fire, accidents, unnatural disaster, natural disasters, etc.
This type of bike insurance policy makes sure that you get different types of coverage and saves your bank account from emptying during a bike accident. It also gives flexibility to the policyholder to choose the two-wheeler insurance policy from different companies.
Now you have a clear idea about what a bike insurance policy is and its types to get the bike insurance policy existing on the planet. Let's quickly jump onto getting the best bike insurance policy online.
Before getting into the buying process of an insurance policy, you need to define the range of your requirements. You are buying the best two-wheeler insurance needs through research and knowing the market's needs. You can make a bike insurance policy comparison to get the best out of the basket of policies.
Here are the following steps that you can follow to get the best bike insurance policy.
Know your requirements
Access your budget and requirements and compare the two to get the best two-wheeler insurance. Online bike insurance policy helps you get the best two-wheeler insurance that can fulfill your maximum requirements.
Choose Add-ons wisely
To get the best bike insurance policy, you need to have the best add-ons that make your bike insurance policy a complete package. Add-ons truly define the complete nature of bike insurance.
Choose a reliable insurance company
You should also check the claim settlement ratio of the different companies to get the insurance that settles your claim in no time with maximum efficiency.
Compare Two-wheeler insurance plans online
You can compare bike insurance policies online to get the best suits all your requirements.
These are some things that you can keep in mind while choosing a bike insurance policy. Here the comparison part seems interesting. It is the best method to choose an excellent bike insurance policy. Let's quickly get a brief idea about the bike insurance policy that you can use to choose the best out of the rest.
Unlimited facts support the conclusion that to compare bike insurance policies online, you need to have the best deal and mindset to get the multi-featured policy that covers your maximum expenses. These benefits make the comparison process most important while buying a bike insurance policy.
Here are seven benefits of comparing a bike insurance policy online
Guide in finding a Low-Cost deal
The best and easiest way to compare bike insurance policies online is by simply entering your vehicle registration number or policy number on your respective search engine. However, this is not a complicated method but requires lots of critical thinking to choose the best policy among the different options available. You will get several details about the available bike insurance in your state or area. Some of the two-wheeler insurance companies provide discount rates to online customers only.
It is compulsory to compare bike insurance policies online to get the best deal available. Moreover, it also helps find the coverage benefits that different policyholders across the country are offering along with their premium payment options. You can get premium and quality bike insurance in India by comparing different bike insurance policies.
Helps in determining the dependability of an insurer
When you compare different two-wheeler insurance policies, you become aware of their different advantages, features, limitations, and inclusions. It also helps in improving your policies by adding different add-ons to the policy. Moreover, comparison helps you to make your objective more judgemental. Comparing different policies across the web according to your requirements helps you get the most practical bike insurance policy that you can get to be ahead of the market and cover your maximum expenditure during bike insurance.
You can save yourself from last-minute surprise and frustration by comparing different bike insurance policies across the internet. It is why it becomes crucial to compare different bike insurance policies before committing to any particular types of insurance policies. You need to clearly understand your budget and requirements before choosing the insurance policy.
Helps you by understanding policy terms
Bike insurance comparison helps you get the best deal that fits your budget, and when you compare two-wheeler bike insurance policy, you get the leverage of putting your hundred percent attention to get the best policy. Compare bike insurance policies online to be aware of the features, drawbacks, advantages, etc., of a bike insurance policy. It also helps the insurance holder to get the maximum coverage in the minimum amount of premium to help you save your money. The comparison also helps get you the best deals and saves you lots of time that you can waste by looking on different websites.
Helps you to be within your limits
Do you remember when you go to a mart, and they provide you attractive offers and sinking in that zone, you buy extra by pushing your financial limits. Similarly, when you get multiplier offers for your bike insurance policy, you can quickly exceed your budget. Comparing bike insurance policies online helps you get an idea of your limits and defines the boundary under which you need to get the two-wheeler insurance policy. You can also erase the amount you are paying to the broker or agent.
Provides information related to the Claim settlement procedure
It provides information about the claim settlement process. There is more than just looking at the prices when it comes to the comparison of two-wheeler bike insurance policies. You can also investigate different insurers' claim settlement procedures. The best bike insurance policy is the one that has minimum claim settlement time and completes the process most simply and efficiently possible.
It also makes you aware of the actions and precautions you need to take to get the best two-wheeler insurance policy.
It helps you find the insurance policy's reliability
You should also compare the ranks of insurance policy providers when you compare the different insurance policies online. It would help if you went through the customer reviews while checking the company's reliability in which you want to put your money. A good bike insurance policy satisfies the maximum requirements and helps them by penetrating their financial limits.
These benefits make the comparison more critical than any other process during your policy buying process.
Helps you in getting the best deal
These insurance policy features help you get the best deals possible in the market. You can compare bike insurance policies online from the comfort of your home and get a deal that fully satisfies all your requirements.
It also helps you get the deals that can fit your budget quickly and fulfill your maximum requirements by covering your maximum damages while you are in the rest phase.
These are some of the benefits that help you choose the best bike insurance policy online. You can choose from the various options available to you by simply putting your hard work and time into doing the research. The square insurance web portal is the best place to compare different available policies to provide you maximum cover.
It is the best tool to compare bike insurance policies online because its multiple features make it different from other policies in the market.
Comparison is a process that helps you show the different options, variety, advantages, etc., that are available in the market. The best two-wheeler insurance covers your maximum damages during an accident and provides you with the leverage of settling your claim process fast and efficiently.
The square insurance web portal is a great place to compare different bike insurance policies as it helps you get the best deal by comparing different features of policies by knowing your budget.