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7 Reasons Why to Buy a Bike Insurance Policy

7 Reasons  Why to Buy a Bike Insurance Policy Square Insurance - 30 Jun 2022

Overview

There are multiple reasons to buy a bike insurance online policy in India, as there are multiple immature riders and drivers on Indian roads. The bike insurance policy companies are looking forward to making insurance policies more accessible and easily affordable for the users. A bike insurance policy provides you a shield and financial help at the time of an accident so that you can have a stress free recovery at the time of an accident. You can easily buy a bike insurance policy online by simply visiting the bike insurance policy website and providing some of the important documents.

The bike insurance market is growing over the years by the increase in the road accidents and increasing traffic density. You can simply visit the company website for buying a bike insurance policy online and make sure that you have a complete documentation package for buying the bike insurance policy.

Significance of bike insurance policy

A bike insurance policy is a contract between you and the insurance policy provider to provide you financial shield at the time of an accident. You have to be very careful while filling the form, you should read all the terms and conditions carefully. You can be stress free after having a bike insurance policy and enjoy the unlimited benefits of the bike insurance policy at the time of emergency.

At the time of an accident the first thing that gives you and your family a metal stress are the hospital bills. A bike insurance policy ensures that you should be stress free at the time of an accident and have a healthy recovery. You can easily get bike insurance online by simply visiting the website of the bike insurance provider and get the best deal for you. You can also compare between multiple bike insurance policies before buying a bike insurance policy to get the best option that fits all your requirements.

These are some of the lines portraying the importance of bike insurance policy in India, let's have a look on the important features of bike insurance policy.

Features of various bike insurance policies

The two wheeler insurance in India comes with various benefits that allows you to be free from the stress of financial needs at the time of an emergency. These features motivate you to buy a bike insurance policy in India. You can easily have a bucket of benefits for buying a bike insurance policy in India. Enjoy the maximum benefits of a bike insurance policy with various features that supports the insurance policy requirements.

Following are some of the features of a bike insurance policy.

Classification

The motor insurance plans, that are part of the general insurance industry businesses, come under the classification of the bike insurance policies. You need to have the maximum benefits from the bike insurance policy to get the maximum return on your investment.

Covers maximum costs: A bike insurance policy

covers the maximum bandwidth of costs right from the repairing cost of the vehicle to the replacing the vehicle at the time of stealing the vehicle. Moreover, when you get maximum cover over your losses you can enjoy the benefits of the bike insurance policy.

Maintaining the policy

As a policyholder you should maintain the policy to keep in mind that it is valid. If the bike insurance policy is no longer valid you cannot avail the benefits from the bike insurance policy and you have to pay all the charges that you get at the time of hospitalization and repairing of your vehicle.

Cover over natural disaster

A bike insurance policy provides you cover over the natural disaster like earthquakes, landslides, theft, riots, hurricanes, strikes, and explosions, which are all covered by a bike insurance plan. Moreover, now you don’t need to worry about the protection of your bike under any circumstances and its safety in order to get the maximum benefits.

Cover against thefts

It also provides you the protection if your car is lost or stolen, you will get a predetermined sum insured up to the insured declared value. You also get the cover against the theefs and in case of stealing your car. Your bike insurance policy is the biggest asset that you have in order to protect yourself against various types of thefts.

These are some of the features of a bike insurance policy that you can consider while buying a bike insurance policy in India. Let’s now have a look at the seven reasons to buy a bike insurance policy in India.

Seven reasons to buy a bike insurance policy in India

There are several reasons to buy a bike insurance policy which you should keep in mind before riding a bike on the Indian roads. These reasons motivate you to be a part of the insurance policy providers family and enjoy the maximum benefits from the bike insurance. These reasons allow you to buy a bike insurance policy more effortlessly.

Here are some of the top reasons that you should consider while buying a bike insurance policy.

It is compulsory

By the motor vehicle act, it is compulsory to buy a third party bike insurance policy in India. This act makes it compulsory for the bike riders to carry a basic bike insurance policy in order to ride on Indian roads. You can get fines if you fail to follow this law and may be debarted for riding a bike on the roads for some time. The panetly of riding a bike without an insurance policy is Rs. 2000 on India roads.

If you repeat to ride a bike without a bike insurance policy you can get an increase and you may need to sell your kidney to fill the fine. You can easily buy a bike insurance policy online and fulfill this compulsion in order to ride safely on the roads and save yourself and your family from the financial burden.

Allows you to pay third-party compensation

A bike insurance policy allows you to pay the third-party compensation and save you from the financial burden at the time of an accident. Moreover, you know that the bikes are riskier as compared to the closed-door protection that a car can offer and other types of multi door vehicles. Also, you need to balance the bike at the time of a ride and allow you to ride safely and more efficiently.

When you come across a bike accident you can get injured and also you can cause damage to a third party during the clash. Having a bike insurance policy saves you from being in a complex situation from where you cannot easily come out and may need to pay a lot of money. The law says that you need to follow the cost of loss that the third party suffers at the time of an accident and it can cause a lot of financial damage and can easily empty your account within hours.

It helps you to pay the repair bill

A bike insurance policy helps you to pay the repair bills of your vehicle after an accident. Moreover, transporting from one place to another you can choose a vehicle that is safer than a motorcycle and provides you more comfort. You can buy a bike insurance policy online with the help of google and other search engines simply by comparing your bike insurance policy with other insurance policies available on the web.

Moreover, when you have a basic bike insurance policy plan you can only get a third party coverage and you cannot repair your bike after a damage. Due to the financial crunches at the time of an accident you cannot repair the bike on time and it can cause extra financial load to you. You should have proper add-ons in order to enjoy the maximum benefits of your bike insurance policy.

Get approx market value of the bike in case of stealing

When you have a comprehensive bike insurance policy you can get more benefits than an ordinary bike insurance plan. Moreover, if your bike gets stolen, you can get all the price of your bike back and collect supporting documents to raise the claim. You need to set the amount of your bike insurance policy correctly in order to enjoy the maximum benefit from the insurance provider.

The main trick here is to consider the approximate current value of the market of your bike and set the IDV in that particular range. The insurance providing company will pay the IDV of your bike if the claim is approved. Therefore, you get very little financial loaf even if your bike gets stolen.

You will get compensation due to man-made or natural calamity

A major misconception that most people have is that when you get damage from the natural calamities it is not surely covered under the bike insurance policy. You can buy a bike insurance policy online in case you want to have the maximum benefit from a bike insurance policy. Moreover, a motor insurance helps you to be out if the bike gets damaged in natural or man-made calamity like earthquakes, floods, riots, vandalism, landslide, etc.

You can cover the maximum damage at the time of an accident to have minimum stress at the time of an accident. You need to have extra add-ons to enjoy the benefits of a bike insurance policy to the fullest.

Convenience

The other reason for a bike insurance policy is convenience, getting a long term bike insurance policy online saves you lots of time and from the hassles of renewing the bike insurance policy. Square insurance provides you maximum convenience in order to enjoy the benefits of a bike insurance policy in India. You can enjoy the benefits of a long lasting insurance policy along with the safety and security.

Moreover, you always get advice from the top market researchers about the bike insurance policy to get the best insurance policy. You have to enjoy the maximum benefits of the bike insurance policy for getting good results in the end. A great bike insurance policy helps you to be financially free at the time of an accident.

Fixed premium rates for the three years

You also get a fixed premium rate for the three years so you need to worry about paying the dynamic insurance policy premium. A bike insurance policy saves you from various hassles and saves your lots of time by investing in the minimum extra add-ons. The fixed premium is easily payable and you can enjoy the benefits of it for multiple years.

However, in a third party bike insurance policy the premium increases by 10-15% every year. When you get a bike insurance policy with good cover you can easily cover maximum financial damage that you face at the time of an accident.

These are some of the benefits of buying a bike insurance policy online. You can enjoy these benefits for getting the maximum return on investment of your bike insurance policy. Now that you have a basic idea about the bike insurance policy and its advantages, let's have a look at the final thoughts related to this theme.

Bottom line

You have to buy a bike insurance policy in India to make sure that you get the maximum benefit at the time of an accident and save your bank account from being empty. You can easily buy a bike insurance policy online by simply visiting the company's website and enjoying the benefits. Square insurance provides some of the best bike insurance policies that can help you to be at the top of your financial glitches. If you want to be financially free at the time of an accident and have a hustle free recovery you should take some of the smart steps and buy a bike insurance policy with useful add-ons.