Aspects Should Be Evaluated When Buying Two Wheeler Insurance

A major percentage of Indians pay for a motor vehicle insurance policy as it is mandatory for vehicle owners to buy an insurance cover. As having a motor insurance policy shields you from paying for damages in the event of damage to the vehicle or injuries that may be caused to other people involved in the accident, it is crucial that one makes an informed decision while zeroing in on the right policy.



To ensure a comprehensive insurance coverage that is in sync with your needs, protects you well from mounting expenses in future and requires a minimum premium payment, you need to keep in mind certain factors before buying a two wheeler insurance policy.

Check and Compare Claim Settlement Ratio of Insurers: Once you have found the list of insurance companies that provide two wheeler insurance in India, you need to check their claim settlement ratios. This can be easily done by logging on to their websites. A higher claim settlement ratio means that the insurer is quick to help the insured in case of any loss or damage. It is wise to choose that insurance company which has a higher claim settlement ratio to ensure that the company will act quickly to settle your claims as and when they arise.

Wider Network Garage: Every motor insurance company has a network of garages where the insured can get their two wheeler vehicles repaired while the cost is borne by the insurer. This implies that the customer must zero in on that insurance company with a wide network of quality garages. Apart from the quality of service that the insured avail, a wider network of garages ensures multiple options of repair in addition to quick claim settlement.

How Active is Their Customer Care Service: Very often we hear people complaining about the lax approach of the customer care centre or their reluctance to resolve queries of their customers. Before choosing your insurer, ask your friends and peers about their experience with the customer care department of that insurance company. It is necessary that the insurer has in place a 24*7 customer service support so that their customers can contact them whenever they need help. Compare and contrast the customer care services of the insurers before finalising the insurance policy.

Quantum of Insurance Coverage: A standard two wheeler insurance policy includes provision for a third-party liability cover along with a cover to cover own damages. While it is mandatory to pay for a third-party liability cover, those looking to buy an insurance policy must choose to pay for a comprehensive cover that includes cover against damages due to accident in addition to protection against third-party losses.

Choose Bike Insurance Add-on Covers Wisely: Most insurers provide add-on covers like personal accident cover. The idea of getting an added coverage lures many motor vehicle owners to pay for these add-ons. It is advisable to opt for such bike insurance add-on covers only if you do not mind paying additional amount of premium for the same.

Recommended Reading: bike insurance add-on covers must to have when buying insurance

Choose a Long term Two Wheeler Insurance Policy: Most people opt to buy two wheeler insurance policies that extend coverage only for a year. However, one must choose to pay for those insurance policies that offer coverage for a prolonged period between 2-3 years. Buying a long term two wheeler insurance policy saves the insured from the hassles of renewing it each year. In addition, the insured get the benefit of availing discounts on own-damage premium rates and, thus, escape the pain of having to pay higher premium in case of increase in premium rates.