What is Two Wheeler Insurance?
What is Two Wheeler Insurance? As the name suggests, two wheeler insurance is a protection against any damages caused to your vehicle due to accident, fire, calamities, etc. It also provides protection against legal liabilities to a third party because of personal or property damage. Basically there are two types of two wheeler insurances: Comprehensive Policy and Liability Policy. There are many benefits of buying a two wheeler insurance policy.
Why to buy Two Wheeler Insurance?
Why to buy Two Wheeler Insurance? If you want to ride your two wheeler in India, having a valid insurance policy is necessary. One must carry a two wheeler insurance policy all the time while riding his vehicle. It has to be produced for inspection whenever asked. Apart from this, few other reason to have a valid insurance policy are as follows:
- Protection against Third Party Liability: Having a two wheeler insurance protects you against legal and financial liabilities against a third party. Thus in case of an accident, your insurance provider settles the liabilities against the third parties.
- Personal Accident Cover: In an unfortunate event of accident, two wheeler insurance provides protection against financial liabilities. Monetary compensation based on the type of injury can be availed. Also in an unfortunate event of demise of the policy holder due to an accident, 100% compensation is paid by most of the insurance providers.
- Cashless Garages: In case your two wheeler insurance suffers damage due to any reason, you may simply go to a network garage and get it repaired. The bill is directly settled by the insurance company.
- Protection against Natural and Man-made Calamities: In events of calamities like fire, floods, storm, etc, two wheeler insurance protects your vehicle. It also provides cover against man-made calamities like riots, terrorism, etc.