Buying a 2 Wheeler Insurance Policy? 5 Things to Remember

2 wheeler vehicles make the daily commute easier and quick. To ensure that this daily convenience is not interrupted, it is essential to protect your vehicle with a suitable insurance policy. The increasing number of road mishaps due to congested roads and rising traffic has made the 2 wheeler insurance policy all the more important.

Here’re 5 basic things that you need while insuring your two wheeler vehicle.

1. Type of plan - There are basically two types of Two-wheeler insurance:

• Liability only policy - It is a compulsory third party policy that covers bodily injury or death or property damage of any third party. Personal accident cover is only provided to the owner-driver.

• Package policy or comprehensive plan – As the name indicates it covers everything mentioned above along with the damage caused to your vehicle in case of an accident/collision, etc. The first policy is made compulsory by the law, but second policy can be purchased by individual’s choice.

2. Factor affecting your premiums – By buying a 2 Wheeler Insurance comes the liability of paying premium that can be high or low, depending upon the features of your bike and also your driving ability. For instance, the cubic capacity (CC) of your bike is an important consideration. The more the capacity of your bike, the larger the premium value would be. Besides, if you drive carelessly and often damage your vehicle in an accident, you are raising your premium significantly. Moreover, the city where you purchased your vehicle also affects your premium. There are two zones – Zone A consists of Delhi, Ahmadabad, Kolkata, Mumbai, Pune and Bangalore. Zone B includes all the rest. Zone A cities are charged higher premiums than Zone B cities.

3. Types of coverage available - There are varieties of coverage available for your two-wheeler insurance that include collision coverage, theft, fire and vandalism cover, insurance for the pillion rider, etc. So you must choose the cover that would benefit you in the longer run.

4. No Claim Bonus - Bikes having a 2 wheeler insurance policy are eligible for the concession at the time of their car policy renewal if they do not make any claim during the policy year. This concession is termed as No claim Bonus (NCB) and it keeps on increasing with every claim free year.

5. Uninsured Motorist cover - Though a third party cover is mandatory, still many drivers don’t have a valid cover (it may have been lapsed and was never renewed thereon). If you get into an accident with an uninsured rider, you will not get any claim and will have to bear all the expenses on your own. An Uninsured motorist cover would help you in this scenario and give you relief to a significant extent.

So by now if you have made up your mind to buy a 2 wheeler insurance policy, you must visit www.hdfcergo.com and select your preferred policy online. You can also renew HDFC ERGO 2 wheeler insurance online and ensure a complete peace of mind.