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Buying Motor Insurance
By APS ADMIN 1,370 views

Importance of reading Bike Insurance policy document 

Buying Motor Insurance allows you to ride on Indian roads freely. Without it, it is not easy to pass through police inspections. Moreover, not having it is considered a legal offense. Hence, buying a two-wheeler should accompany Bike Insurance. But going with just about any policy is not ideal.

You need to ensure the authenticity of the same before buying. This is a crucial step as many agents sell fake policy papers. Possessing such illegitimate documents affects your claim settlement and law abidance. They are equal to being uninsured. Therefore, it is crucial to take the necessary steps to verify insurers. One such method is reading the policy document. It helps you understand several critical aspects. 

Coverage: You get two types of plans for Two Wheeler Insurance – third-party liability and comprehensive plan. One covers the third-party damage, and the other protects your motorbike. However, insurers have their own inclusion rules. Hence, it is important to check this thoroughly to understand the plan better. The policy papers contain information regarding the same. They also include any changes and additional rules that you should know. 

Exclusions: Other than the inclusion, insurance companies explicitly mention the exceptions. It is to give you clarity on what is being offered. As a result, you get to avoid getting any surprises during claim settlement. Make sure to read the clauses carefully and clear any doubts directly. This information is available on the insurers’ website as well. This makes the process of buying online Bike Insurance easier.  

Cashless facility: This is a convenient service offered with Two Wheeler Insurance. It is useful when your vehicle requires repairing. Here, the policy provider directly settles the payment with the garage. Therefore, you need not raise a claim. The only condition is that the garage comes under the insurer’s network. However, not all insurance companies offer it. So, read the policy papers to locate this clause. 

Deductibles: There are two types of deductibles. One is voluntary, and the other is a must. The latter is not in your control as it is pre-determined by the Indian Regulatory and Development Authority. However, it varies based on your bike’s condition, cubic capacity, etc. These details get clearly stated in the 2 Wheeler Insurance. Make sure to read the same to get clarity. 

Cancellation terms: It is always an option to switch your insurer when there is a better offer. This is ideally done during the renewal. Hence, check what the procedure is and if there are any charges. All these are important terms that need to get discussed early on. Also, it lets you understand if you are eligible for a refund. If not, you get to negotiate and understand the same. 

Claim settlement process: This is a significant aspect of getting a Motor Insurance policy. If your claim assistance includes hiccups, you end up funding from your pocket. To avoid this, read the claim procedure carefully. The policy documents usually have a detailed description of the steps and documentation. Besides, it is best to buy online Bike Insurance for a smooth settlement. 

References: A insurance document is an elaborate document. It contains different interconnected sections. Hence, it is essential to glance through each of them thoroughly before processing. This lets you get a complete understanding of the same. For added convenience, you get a soft copy when you buy online 2-Wheeler Insurance. This way, you get to jump from one section to another quickly. 

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