Because two-wheeler insurance is mandatory in India, many vehicle owners think of it as a mere formality to be complied with, and not an absolute necessity, without realizing that it can be life-saving. So, they buy two-wheeler insurance with the same perfunctory casualness with which they would, say, wear a helmet. Worse still is the overwhelming lack of awareness regarding two-wheeler insurance cover and the things that they cover and don’t cover. Here we make an effort to bust five myths about two-wheeler insurance.
- Only third-party bike insurance is mandatory, so why waste money on a comprehensive policy? It is true that the Motor Vehicles Act makes it mandatory for two-wheeler owners to buy a third-party insurance policy, but that does not mean a comprehensive insurance cover is unnecessary or a waste of money. In fact, it is only the comprehensive two-wheeler insurance policy that provides own-damage cover, the value of which people unfortunately realize only after a mishap. Besides, the comprehensive policy also covers losses incurred due to personal accident, natural calamities, fires and theft.
- A common myth is that the pillion riders are covered under the insurance policy for two-wheelers. Nothing can be further from the truth. Insurance cover for pillion riders is an add-on cover which you have to purchase separately as even the comprehensive policy does not cover it.
- One common misconception that people harbor is that two-wheeler insurance is expensive, and that is why many vehicle owners avoid buying it. The fact is that in the long run it can save you loads of money, especially if you were to get involved in an untoward accident. It could save your medical costs, expenses for repairs, and maybe even legal expenses. Compared to these expenses, your bike insurance works out to a mere pittance. However, make sure that you get quotes from as many insurance companies as possible, check that all your requirements are covered, and then select the policy that you feel is the cheapest. Don’t forget to get quotes from Bharti AXA as they offer the most comprehensive and flexible policies. You can even buy your two-wheeler insurance online.
- Many people think that they cannot purchase two-wheeler insurance online. In this tech savvy world, like most other things, you can easily purchase your two-wheeler insurance online by visiting the website of the company from whom you wish to buy your two-wheeler insurance online. The procedure to buy two-wheeler insurance online is very easy and it has many advantages too. Apart from making it very convenient and saving you a lot of time, you can also compare the policies of various companies from your armchair at home. Most companies also have an online premium calculator using which you can easily figure out your cost-benefit ratio.
- Another common misconception about two-wheeler insurance is that you can’t transfer your insurance policy to another company without forfeiting your no-claims bonus. This is just not true, and all insurance companies will gladly provide you with the proper no-claim bonus if you are transferring your policy to them.
So there, buy your two-wheeler insurance and ensure your safety, peace of mind and enjoy riding your bike.
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