Renewing is a once-in-a-year must-do errand. We very easily miss the deadline given our everyday fight with life and its priorities. The best way to avail maximum protection for a two-wheeler from unforeseen events is to buy an insurance. The list of benefits of two-wheeler insurance renewal has been elaborated underneath:
1. Protection against Natural Disasters
When a natural disaster strikes, such as earthquake, landslide, Storm, etc. would you believe your two-wheeler insurance covers it. Your two-wheeler insurance policy bears the cost of repairing the damages caused due to any of the above mentioned natural disasters.
2. Protection against Manmade Calamities
Loss or damage incurred due to man-made activities, such as a theft, burglary, strike, war, or accidents are covered by your two-wheeler insurance policy. It covers the service cost or replacement charges, whichever is compulsory according to a situation.
3. Protection of Legal Interest
The matter of the fact is third-party insurance is mandatory as per Motor Vehicle Act, 1961. It ensures the owner of the insured vehicle is free from any third-party liability which may arise in the case of an accident.
The renewal of two wheeler insurance ensures that you do not have to bear the expense incurred for fixing the damages to two wheeler vehicle, person or property in the surrounding.
4. Access to Discounts and Perks
Renew two-wheeler insurance policy on time to ensure that you can avail discounts, such as No Claim Bonus (NCB). By not renewing your policy on time, you can lose these perks and discounts.
5. Gives You a Sense of Security
The important feature offered to you on renewing your two-wheeler insurance policy is the security and peace of mind. Being covered under two-wheeler insurance policy gives you a sense of security to ride on the road. It also helps you in saving the fines imposed on you under traffic laws. For instance, traffic police may impose a fine on you for not carrying a valid insurance or not wearing a helmet while riding a two-wheeler
Thus, you can see that renewing two-wheeler insurance is very important for everyone. Here are a few things to take care of while renewing a two-wheeler insurance policy in India:
Keep a check on the validity date of your insurance policy. Try to renew well in advance as per the deadlines mentioned in the policy papers to avoid late payment charges or fine.
Always compare two wheeler insurance quotes online before renewing your existing policy with your current insurer. An insurance company might be out there to offer comprehensive benefits at an affordable premium.
Use discounts like No Claim Bonus (NCB) and go for voluntary deductible, it helps in lowering the premium.