Two Wheeler Insurance Renewal: Getting the Best Out Of Your Money

Two Wheeler Insurance Renewal: Getting the Best Out Of Your Money

If you wish to ride a bike or a scooter on the Indian roads, you have to buy a two wheeler insurance plan. You have to pay the premiums and maintain the plan at all times. Two wheeler insurance renewal is equally important as you can’t ride your vehicle without a valid plan. So make sure you renew the plan well before it expires. Take a look at this article to know how you can renew your bike insurance plan and get the best deal out of it too.

Two Wheeler Insurance Renewal Features

When renewing a two wheeler insurance plan, you should expect to get the following features and benefits:

  • No claim bonus: The no claim bonus, or the NCB, as it is commonly known, is a discount that you get on renewal when you do not make any claim. For every claim free year, the insurance provider offers a discount on the premium of the following year. This discount piles up and you can make some serious savings when renewing your bike insurance plan. This is one of the best features of the two wheeler insurance plan renewals.
  • Comparing helps save money: Did you know that you could save a lot of money on two wheeler insurancepremium by simply comparing the available bike insurance plan? That is right. Comparing helps you find the best insurance plan at the best possible rate. So rather than blindly going with your existing insurance provider, compare all the available plans and see which plan has the best and the most economic options. If you feel your existing plan is the best, continue with it. Else, make a switch.

Two wheeler insurance – benefits of the plan

Now let us take a look at the benefits that your two wheeler plan can fetch you:

  • Keeps you in the right side of the law: Like mentioned above, the Indian motor vehicle act,1988 law makes it mandatory for you to buy a motor insurance plan for your two-wheeler. So even if the police stop you to check on routine document check, you don’t have to worry. You can show them your bike insurance papers and you won’t get into any kind of trouble.
  • Keeps your vehicle safe: It is very expensive to get even a minor dent on your bike repaired. So it is very advisable to have a good and comprehensive two-wheeler insurance plan in place. Even after an unfortunate mishap, you can afford to get your bike repaired and make it as good as new.
  • Keeps you safe: A valid bike insurance plan offers an add on personal accident cover to you. So if you happen to get injured while riding the vehicle, you will get compensation for the medical treatment you undergo. So you can get the best possible medical service and get well soon.
  • Keeps the third party protected: If a third party gets injured or their property gets damaged due to an accident involving your bike, the insurance provider will pay the third party compensation on your behalf. You won’t have to pay the dues yourself and will end up saving a lot of money.
  • Covers legal costs: Last but not the least, if you are dragged to court by a third party, your insurer will bear the legal costs. Without this cover, you will have to pay the costs yourself and as we all know, legal expenses run very high. This is a very important reason why you need to have a good bike insurance plan from one of the best possible general insurance providers of India.

In conclusion

As you can see, the  two wheeler insurance renewal is absolutely crucial. Keep the features and benefits of bike insurance renewals in mind and you will never forget to renew the plan on time. Do not let your bike plan lapse as then you will lose out on many benefits such as the NCB. Also, you may have to pay the unnecessary late fees and waste your money. So be disciplined and renew your plan well before it reaches its expiration date. Set a reminder for it and do the needful as soon as it required. Once it is done, continue to ride your bike with the features and benefits of the bike insurance plan supporting you silently.

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