How Much Is The Motorcycle Insurance Fee 2021 Allbdjobscircular.com: It is very common for every individual to own a two-wheeler and it is very easy and convenient when it comes to maintaining the vehicle when compared to the four-wheeler.
Anyone willing to own a two-wheeler will know that owning a two-wheeler is impossible without having a bike insurance policy. It is just illegal to own a two-wheeler without a proper bike insurance policy in India.
In a country like India, where the usage of bikes is very often, two-wheeler users are at more frequent risk of accidents and damage.
To keep control and look over these accidents and to safeguard the rider on it, the bikes must get a proper and secured insurance policy according to the law passed by the IRDAI.
The IRDAI states that even before you get to start your bike for the first time, get the bike and the biker insured.
What is the meaning of Bike Insurance?
If we need to define Bike Insurance in simple words, it is an agreement or a contract which is made between the two-wheeler owner and the Insurance Company whereby the Insurance Company owes to provide financial coverage to the bike owner if any loss has incurred during an accident.
For this, it is mandatory for the bike owner to either buy or renew the two-wheeler insurance online which is very simple and this will help him avoid paying a fine if the bike owner does not get the bike insured.
What is the use of two-wheeler insurance?
It is always best to get the most comprehensive two-wheeler insurance policy which is easily available for bikers.
This type of insurance policy helps to provide comprehensive protection against any type of damage to your vehicle and it also includes all kinds of damages to the vehicle or any type of property of a third party.
The two-wheeler insurance also helps to protect the policyholder against theft or losses that might happen to his/her two-wheeler.
The two-wheeler insurance also helps the bikers to all kinds of bodily injury or harm that has occurred to them during an accident while driving or whether they have been a co-driver.
One of the benefits of buying two-wheeler insurance is that in India it is very important for every bike plying on Indian roads to have valid insurance coverage. And if anyone skips this cover would put on to a penalty of up to Rs. 2,000 or even imprisonment in some cases.
How can one decide which is the Right Insurance Coverage?
Now as we know that two-wheeler insurance is the coverage that one gets to protect their bike from financial loss whether it is a theft, an accident from fire, or any other type of disaster. It also helps in giving security to the bike owner and his or her passengers.
- One should keep in mind a few points when they are buying a two-wheeler insurance policy and they are:
- The price of the two-wheeler insurance policy must be checked.
- Does the cost of the insurance go with the price of the bike?
- The age and experience of the biker
- Think and decide the location of the bike to be traveling.
It is always better for one to buy insurance online whether it is life insurance or two-wheeler insurance.
How much does two-wheeler insurance cost in India?
Bike insurance in India can range anything from Rs. 2000 to Rs. 20000 and this price is calculated based on your bike’s make and model, then your age and many other factors are taken into consideration.
When you have to calculate the two-wheeler insurance for your bike then know it depends on various factors. The insurance is calculated based on the monetary sums you would want to pay in exchange for the benefits you would want to receive with the bike insurance policy.
The monthly or annual sums are called bike insurance premiums. The more detailed the nature of the insurance you choose, the value of the premiums you will need to pay will be increased.
Why should one get two-wheeler insurance?
Everyone needs to get their two-wheeler insured when they go to buy a two-wheeler. No bikes run on the road without a secured insurance policy. People often treat their bikes like their own babies or friend, and who would want to put their life at risk?
Therefore, one must take proper two-wheeler insurance to protect their two-wheeler from any kind of damage or accident.
What all gets covered in the two-wheeler insurance?
Like any insurance, two-wheeler insurance also works the same way. They cover any kind of repair or replacement that you have got to do with your bike in case it gets damaged or stolen.
Also, it depends on the type of coverage you have chosen where damage, personal injuries, and third-party injuries may also get insured.
Which are the top two-wheeler insurance companies in India?
There are so many good Two-Wheeler Insurance Companies in India and it is totally up to the biker to choose which company is providing the insurance policy most suited to his or her requirements.
Some of the most popular Two-Wheeler Companies are Bajaj Allianz General Insurance, Bharti Axa General Insurance, Iffco Tokio General Insurance, Icici Lombard General Insurance, and many more.