We all know that two-wheelers are most vulnerable to road accidents compared to any other mode of transportation. Despite the fact; it is still one of the most popular modes of transportation as it makes tackling the Indian jams and pathetic road conditions far easier to tackle. The best way to balance between the two is to buy a comprehensive two-wheeler insurance plan.
The insurance plan keeps you secure against any financial loss and ensures that you can reap the maximum convenience and benefits of owning a two-wheeler, be it a bike, a scooter or any other two-wheeler. The law makes it mandatory to purchase a third-party insurance cover for your two-wheeler but it is far smarter to convert it into a comprehensive insurance plan. Here, we throw light on a few key benefits of purchasing such a plan.
- Protection of legal interest
As already stated, the law makes it mandatory for any vehicle owner to purchase a third-party insurance plan. A comprehensive insurance plan has this legal requirement covered within itself along with several other benefits for you and your vehicle. Going without insurance can get you into legal trouble. Purchasing a policy keeps you on the right side of law and from any legal hassle.
- Protection against costs of various kinds
The most important benefit of the two-wheeler insurance plan is the financial security it provides you against all kinds of possible financial burdens.
The foremost protection is third-party liability coverage. When involved in an accident where you are at fault; you would need to bear the cost of repair of the other party’s vehicle and even physical damage inflicted on him/her. This can be a huge financial burden but with an enforced policy, the insurance company would bear the cost. It can be a real lifeline to you. You are also covered for the cost of any legal action if initiated.
The next financial benefit comes in the form of a personal accident cover. You would be covered for the treatment of any physical damage suffered during the accident. You would also be compensated in full in the case of any permanent disability suffered or even death.
The third is the covered cost for repair of the two-wheeler due to any causes- manmade and natural. Your two-wheeler might get damaged due to natural disasters like floods, earthquakes, hurricanes, etc. It might also suffer damage due to man-made reasons like vandalism, accident, etc. There could be various other reasons causing damage to your two-wheeler. Getting the vehicle repaired is truly an expensive affair. But with the insurance company paying the bills of the repair, you get saved from a big financial loss and crisis.
It can be possible that your two-wheeler gets damaged beyond repair or totaled. In that case, the insurance company pays you the market value of your two-wheeler at that time. This saves you from a big financial loss.
- Cashless benefit
Most insurance companies have tie-ups to form an extensive map of network garages. Whenever your two-wheeler needs any repair; you can take it to any of these listed garages. The best thing is that you are not required to pay for the repairs as the insurance company pays it to the garage directly. This reduces the financial burden to a significant degree from your side and makes your life easier.
- Availability of various discounts and perks
Most thing that buying an insurance policy is an expensive affair. But given its advantages; it is highly cost-effective. It is made more so due to the various perks and benefits being offered to you from time to time. For instance, you get a discount when you are purchasing any policy online as the middle salesperson commission is saved.
You get additional perks and discounts if you are bundling up your insurance plans. Sometimes, the insurance company runs promotional offers and discounts that can be advantageous for you as well.
You get several benefits at the time of Renewing The Policy as well like the No Claim Bonus.
- Peace of mind and sense of security
Last but not the least, an insurance policy gives you a sense of security and peace of mind. You know that you are covered against all kinds of liabilities and difficult situations. You can then easily relax and enjoy your ride on the road that is unparalleled.
Purchasing a two-wheeler insurance policy is the best thing that you can do to protect yourself and your two-wheeler from any kind of untoward incidents and financial crisis in the future. It’s a must-have for any two-wheeler owner.