Bike insurance provides you the financial aid that you need when your bike has been damaged/lost. It is important to think about buying the right two-wheeler insurance to save yourself from personal loss, in case of any mishap. As there are many choices for you to choose the right two-wheeler insurance, here are some tips which can help you to make the right decision.
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The Insurance Terms
No claim bonus (NCB) is the discount offered by an insurer to its customers if there has been no claim made under the vehicle insurance policy within a certain period. Depending upon the insurance company, NCB can be an amount added to the premium each year or in some cases, it is converted to cash after a certain period (usually 5 or 6 years).
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The Policy Coverage
The policy covers damages to your vehicle due to natural causes such as fire, flood, or riot; and other unfortunate events like theft, burglary, etc. Further, it provides you with a death cover of Rs. 1 lakh in case of a contingency. It also provides comprehensive third-party liability coverage of up to Rs. 5 lakh for bodily injury or death caused to a third party in an accident and comprehensive no-fault personal accident cover up to Rs. 51,000/- if the two-wheeler is lost due to an accident or natural cause.
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The Add-on covers
The focus is on the word ‘add-on’, which is attached to features such as zero or nil depreciation cover and loss of accessories. Although not explicitly stated in the description, the new add-ons will cover theft of accessories and black money. Such new features trigger a shockwave in the person’s head, that he/she needs to have such add-ons.
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The Claim process
We at Mahindra Car Insurance, have made the process of claiming for a two-wheeler simple, hassle-free, and easy to understand. Not only this, claim processing is done in close coordination with other insurance companies as well as our service partners so that you will be happy when your bike is back in your garage.
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The Reputation of the Company
Paybima is a top-rated insurance company that assesses you fairly when determining how much money you will need for your bicycle insurance policy. Their staff is knowledgeable and eager to assist you with any questions or concerns you have about the insurance process. If your bike is stolen, damaged, or totally lost due to an accident, they will quickly be in contact with you to start the claim process. They are also very efficient at processing payments and getting your check on time so you can continue enjoying your investment.
We have designed our Long Term Two-Wheeler Insurance Policy to offer specialized coverages and benefits that will extend the life of your two-wheeler beyond the term of your policy. Even during this time span, your two-wheeler is covered under the comprehensive insurance coverage by paying some extra premium. Besides offering flexible premium payment plans, we make sure that comprehensive insurance protects you against accidents, natural calamities, fire, or theft.
