When you are looking to buy two wheeler insurance, there are a few parameters you go through before you purchase it. You should take a look at the premium, exclusions, inclusions, coverage, IDV, deductibles, and so on. These determine the scope of financial liability you might be exposed to.
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Most people tend to skip over the fine print and look at the bigger picture while purchasing two wheeler insurance. Here are some of the finer points that you may have skipped and are definitely worth looking at.
Things you may not know about your two wheeler insurance
1.
Two wheeler insurance can be customized – Your
two wheeler insurance can accommodate your requirements to a great extent. The coverage can be modified using add-ons that are available with the insurer. At the same time, you can adjust your premium by adjusting the deductibles. The lower your premium, the higher the amount you will have to pay from your pocket in case of an accident.
2.
Roadside assistance encompasses a lot of services – Roadside assistance is an add-on you can choose to purchase while buying two wheeler insurance. Most people do not know the extent of services that come attached to this add-on. Here are some of the things covered under this cover-
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Towing – In case of a breakdown, your two wheeler will be towed for 50 km without any charge to get it repaired.
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Dead battery – IN such cases, you will be assisted and all the labor and conveyance costs will be covered.
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Damaged tyre – All of us have faced the challenge of a flat tyre at an inconvenient location. This cover will allow you to get the help of technicians who will assist you with changing your tyre.
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Repairs – Sometimes, the situation is out of your hands, and you are left wondering what is wrong with your vehicle. IN such cases, this cover will facilitate assistance. You can rest assured you will be on the road thanks to experts who will tend to your two wheeler.
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Message relay – If you are caught in an unfortunate situation, you can be sure that your family gets the message that you are safe and sound and have experienced problems with your bike!
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Medical emergencies – This is one of the most important aspects of roadside assistance, where your cover would ensure you get immediate medical attention at the nearest medical centre in case you need it due to an accident.
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Fuel refill – When your fuel runs out prematurely, you can rely on roadside assistance to help you out with 5 litres of fuel wherever you are stuck.
3.
Cashless facility in bike insurance – You may have heard of cashless health insurance, but there is such a thing as cashless two wheeler insurance too. You can take your bike to a garage, which is part of your insurer's network.
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4.
Buying two wheeler insurance from the dealer is not mandatory – A lot of people when they are buying a new two wheeler are offered insurance cover by the dealer. Most of them assume it is mandatory to buy it from the dealer. However, the basis for buying it from the dealer is that your two wheeler is insured from the very first day. Since it is compulsory to have
third party bike insurance for all two wheelers, people tend to give in. It should be your last option, and look for suitable insurance policies online.
5.
Your policy may not cover the pillion rider – Most comprehensive insurance policies cover the medical expenses of the rider in case of an accident. However, you should check if the pillion rider's medical expenses are covered; if not, you should buy a separate cover for the same.
6.
Switch policies at the end of the tenure – If you have already purchased third party bike insurance for 3 years, then you cannot upgrade your policy in the middle of this tenure. If you wish to fortify your policy, then you can consider buying own damage insurance. Either way, you can only upgrade or change your two wheeler insurance policies at the end of the policy tenure.
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7.
Insurance portability is possible only at the end of the policy – A lot of times, the insurer you choose does not deliver on the promises, or the customer service is subpar. In such cases, you should look for an insurance company that is a better fit for you. This switching of insurance companies can only be done at the end of the policy tenure. You need to inform your current insurer of your wish to change and apply to the new insurer well in time. If there is a gap of more than 90 days, you lose your no claim bonus, which can be transferred when you switch insurance companies.
These finer points ensure you are fully aware of what your policy includes and the rules. Use these to make an informed decision and to make proper use of your two wheeler insurance policy.
