10 Two Wheeler Insurance Misconceptions to be Ignored
In India, a majority population to commute uses two wheelers. Though riding a two-wheeler is rousing but simultaneously has its fair share of worries.
Riding a two-wheeler is surely an art where one is sitting on top of the seat and the bike close to one’s body, exploring places, etc. This feeling itself is liberating.
A rider needs to ride safely on the roads. Besides, to enjoy the ride safely on a two-wheeler it is better to have two wheeler insurance.
There are high chances that accidents occur every minute. It is possible that while you are reading this a road accident might have occurred.
Driving a two-wheeler is always risk-prone. In the year 2017, more than 48,746 two-wheeler users died in road accidents.
To ensure that a two-wheeler runs smoothly on the roads, the engines have to be well oiled. Similarly, buying two-wheeler insurance on the premise of the prerequisites one is securing oneself, the pillion rider and the two-wheeler.
Third-Party bike insurance is a legal mandate in India. This move is beneficial for both the parties that are the one involved and the other who may get involved in any unforeseen mishap/accident.
Let us discuss 10 common misconceptions that people have associated with two wheeler bike insurance.
- Buying Two-wheeler Insurance is Convoluted: Most of the people still have this perception that buying insurance is a time taking and a convoluted process. In reality, this is not the case anymore. Today, buying insurance has become simple. Moreover, if you intend to buy a policy it is better to buy insurance policy online from the comfort of your home or office. One simply needs to go online, visit the website of the insurance provider, give the required details and accordingly analyze the different plans, compare the quotes and make an informed choice without getting into hassles.
- Third-Party Liability Cover is Ample: As discussed earlier, third party insurance is a legal mandate. However, having only this cover is not sufficient. It is to be understood that a third-party liability cover only protects the third-party. Therefore, it is advisable to opt for a comprehensive plan, which will protect the third-party as well as your two-wheeler from any fiscal cost under any uncertain mishap/accidents.
- Lack of Cooperation: Gone are the days when there was no assistance in buying the insurance policy. Today almost every insurance provider has reliable round-the-clock customer support that is always available to answer your queries in prospect to a two-wheeler insurance policy and help the customers in the best possible manner.
- Two-wheeler Insurance Provides Coverage to Personal and Commercial Usage: This is a myth that having two-wheeler insurance provides coverage for both personal as well as commercial purpose. It is to be understood that a two-wheeler insurance plan offers coverage for the personal use of the two-wheeler. On the off chance, if one is using the two-wheeler for any commercial reason then the same is not included in the two-wheeler insurance policy and henceforth no coverage shall be provided.
- Buying Two-wheeler Insurance Online is Not Secured: People have a notion that buying two-wheeler insurance online is not secure and the personal information of an individual is always at risk. On the contrary, the data is extremely secure, the data is not disclosed to anyone, and confidentiality is always maintained. The websites of the insurance providers are secured and ensure maximum protection against any fraudulent activities.
- The Insurer Cannot Be Changed: Most people think that once a two-wheeler insurance policy is bought, the insurer cannot be changed whereas this is not true. Generally, a two-wheeler insurance policy is valid for a year or two. Once the policy is lapsed/expires, one can easily change the insurer when renewing the two-wheeler insurance policy. In case, if one has earned NCB from the previous insurer, then one may enjoy the benefit of No Claim Bonus.
- Buying Insurance is Exorbitant: Buying two-wheeler insurance is neither expensive nor exorbitant. It is high time that people need to understand that buying insurance is a necessity and not a luxury. Buying the right policy is imperative and to do the same the buyer needs to compare and analyze the plans on the premise of the coverage being offered by various insurance providers. Remember, it is a good thought to save money but then one needs to be smart to understand the bigger picture. A small investment for an easy and stress-free future is one good deal.
- Two-wheeler Insurance Premium Depends Upon Credit Score: It is mostly believed that the premium amount is reliable on one’s credit score. Well, this is incorrect. The premium amount depends upon various factors, which includes the model of the bike, the year of manufacture of the vehicle, the capacity of the engine, and so on. Please note that the credit score does not affect the two wheeler insurance premium.
- Coverage for Pillion Rider is Covered Spontaneously: When it comes to two-wheeler insurance, comprehend that the pillion riders are not secured consequently. For instance, if a bike meets with a tragic mishap causing n injury to the pillion rider then under such a situation the pillion rider is not secured under the policy. In any case, buying an extra front of individual mishap cover makes the pillion rider eligible for inclusion.
- Two-wheeler Insurance Provides Coverage Against All Damages: Two-wheeler insurance does protect you from any unforeseen mishaps and provides coverage for the same. However, this is not applicable in all cases. In circumstances, where the damage has been caused by the influence of alcohol or substance abuse. Under such a situation, the insurer can straightway nullify the claim for coverage. Therefore, it is always recommended to read the fine print of the policy schedule and understand the inclusions and exclusions under the policy one have bought.
Wrapping it Up
Buying two-wheeler insurance is not a complicated process. Before buying two-wheeler insurance, it is better to understand the advantages of buying the equivalent and then only make an informed decision to get the policy, which is apt for one’s two-wheeler.
Having complete knowledge of two-wheeler insurance policy can be a great help. Thus, be attentive while buying a two-wheeler insurance policy and be assured until the policy is up for renewal the next time.
Set aside all the apprehensions in regards to buying insurance for the two-wheeler. Secure your two-wheeler and buy two-wheeler insurance that suits your needs.