Interesting Bike Insurance Facts - Greyfont

Interesting Bike Insurance Facts


According to the statistics the Indian Two Wheeler industry records a massive growth every year. They are cost effective than four wheelers. Convenience of driving on congested Indian roads and easy mobility have increased the demands of two wheeler. The two wheeler insurance is mandatory in India. There is a pool of two wheeler insurances offered by the insurance companies. Lets take a look at this article to know more about the bike insurance facts, how to buy a plan and common features of it.


Some of the facts- Many customers are unknown to these interesting facts.


  • Bike Insurance is mandatory - according to the Indian Motor Vehicles Act, 1988, it is compulsory for the two wheeler rider to have a valid insurance.
  • Road side assistance is available - road side assistance cover is an add on cover that can be added to your policy. It helps you when your vehicle breaks down or it stops operating in the middle of the road. This facility depends on the insurer.
  • Reduction of the premium - by installing safety devices in your vehicle the premium amount can be reduced. As the chances of bike being stolen or vandalism decreases.
  • Long term plans are available - normal insurance policy is valid for a year. You can choose from a three year plan which in return reduces your premium.
  • Pillion Accident Cover - the bike owner has an option to purchase an additional insurance cover for himself as well as the pillion rider. A pillion is the seat behind the rider or the main seat.


Ways to get best bike insurance

Surfing online is the best option one can opt while going for an insurance. Online policies sometimes give the best benefits. Some of the them are -


  • Cheap rate - you get the insurance at a comparatively low rate than going through a middle man or any agent. The premium includes their charges as well.
  • Easy to buy - buying insurance online saves lot of time of the customers. You can choose and then compare various policies at one go. The process is paper free and requires minimal process to buy a desired policy.


Characteristics of Bike Insurance Plans

  • Types of Plan - The Third Party Cover and the Comprehensive Cover are two types of plans. The Third Party cover is the compulsory one. It covers any third party damage that may happen due to a an accident involving your bike. A comprehensive plan gives coverage for accidental damage.
  • No Claim Bonus - No Claim Bonus(NCB) is a discount that you get for not claiming in the previous years. The bonus gets carry forwarded and accumulates over 5 years and that ranges from 20% to 50%.
  • Deductible - this is the amount paid by the policy holder towards the part payment of the bill while the insurance provider provider pays the remaining amount. Higher the deductible lower the goes the premium amount and vice versa.



Make your self well versed with the characteristics of bike insurance. Once you understand how a two wheeler insurance works go online, compare different policies and find the most suitable plan for yourself. 


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