When an individual invests lifetime savings on buying a two wheeler, one protects it with love. Bike rides make life easy and the fastest way to reach any place. They don't take much space and in less time one can reach a destination. However one shouldn't forget along with faster traveling come many risks. A number of road accidents and many other liabilities come with bike ride. So what is the solution to these countless risks which could stem out at anytime?

The Solution:

The solution to the above question is a two wheeler insurance policy. Many banks and insurance companies provide a comprehensive two wheeler insurance coverage which protects an individual in times of theft, accident and liability. A two-wheeler insurance renewal plan provides the rider protection against accidents and legal liability which take place as a part of the accidental damages. Sometimes insurance policy provides coverage against any permanent injury or death of a person or any damage caused to the property.

What does a two wheeler insurance policy renewal covers?

When applying for a two wheeler insurance protection for a vehicle, coverage is provided by the insurance companies and banks. Here are some of the common things which are covered by a two wheeler insurance policy:

Any loss or damage caused to the vehicle due to the following natural and manmade calamities. Natural Calamities such as fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rock slide. Man made calamities like burglary, theft, riot, strike, malicious act, and accident by external means, any damage in transit by road, rail, inland waterway, lift, elevator or air.

Personal accident cover: The motor insurance provides compulsory personal accident cover of Rs. 1 lakh for individual owner driver of the vehicle insured while traveling in, mounting or dismounting from the vehicle. You can also opt for a personal accident cover for the bike rider.

Third party legal liability: Protects against legal liability arising due to accidental damages, any permanent injury/ death of a person and/or any damage caused to the property.

What are the benefits of two wheeler insurance policy?

Two wheeler insurance policy offers a lot of benefits for the vehicle in times of unexpected emergencies. Some of the benefits which one can enjoy when applying for a two wheeler insurance policy are as follows:

Cashless claim facility at cashless garage network all across India.

There is a no claim bonus which is offered on vehicle insurance policy renewal. Then the rate of discount can vary between the maximum limit and minimum limit.

Sometimes a no claim bonus benefit can be transferred from one account to another account very easily hassle free. The rate of benefits remains the same provided the previous account offered the same kind of benefit and other advantages.

While applying for a no claim bonus, following things should be kept:

Renewal notice
Letter confirming the NCB entitlement from the previous insurer
NCB declaration

A two wheeler insurance policy provides a lot of benefits and numerous advantages. So when applying for it, a two wheeler insurance best guarantees the safety of the motor vehicle. Apply for a two wheeler insurance renewal policy now and ensure safety coverage for the bike as well as the biker.

About Author / Additional Info:
Jessica Kapoor is an avid follower of the insurance market trends and likes to write about various insurance policies that come out from time to time. Stay tuned to know more about insurance market in India.