Bikes are the most commonly used mode of transport. In fact, many people own more than one bike. In India, according to the 2017/2018 statistical data, the sales for Two-wheeler reached an all-time high of around 20 million units. It is more important to note that bikes are more susceptible to accidents and more damages as compared to cars or other four-wheelers. Thus, buying two-wheeler insurance and making sure to renew it timely is very important.
Why Bike Insurance is Important?
The Bike Insurance policy protects you from personal accidents, theft, and damage to your bike. The Motor Vehicles Act, 1988 states that it is compulsory that every vehicle on the road to at least have a valid third party liability cover.
Buying two-wheeler insurance is not at all a complex process, you can easily renew or buy two-wheeler insurance on Turtlemint.
Following are the benefits of timely renewal of the bike insurance –
- Security in case of man-made tragedy:
The insurance policy also covers man-made tragedies like theft, burglary, war, strike, and accidents.
- Protection against natural disasters:
Bike insurance ensures that if in any case, your bike suffers damage from any natural disasters like fire, earthquake, tsunami, tornado, landslide, flood, etc. the company is liable to pay the compensation amount.
These are the naturally occurring calamities, on which no one has their control. Renewing your bike insurance will relieve you from bearing heavy expenses that may incur due to these natural calamities.
- Changing or updating the policy term:
During the renewal of the insurance policy, the policy term period can also be changed. The longer the term of the policy, the more discounts and benefits prevail.
- Sense of Security:
Timely renewal of the policy creates a sense of security and peacefulness in the policyholder’s mind. It guarantees that one is safe from any financial burden from the expenses caused by any accidents.
- No claim bonus:
When one renews the insurance policy, he/she can avail no-claim bonus to get discount in the renewal premium. This no-claim bonus is provided if you haven’t made any claim in the previous year.
Few tips when you renew Two Wheeler Insurance:
It is important to renew bike insurance when it expires or is on the verge of expiring. Following are some points that one should keep in mind while renewing two wheeler insurance –
- Check over the validity of the insurance policy. Renew it well in time before it expires.
- Always compare different insurance companies. By comparing these you will get to know the benefits of each company policy and which one suits you the best.
At last but not least, we can conclude that the timely renewal of Two-wheeler Insurance is very important. Such insurances help in creating peacefulness and a sense of security. Turtlemint offers the best insurance rates and free claims support to all the customers. Buying two-wheeler insurance on Turtlemint is an easy, convenient, efficient and benefiting task for the customers.