There are different types of insurance covers available and depending upon the losses incurred, people are allowed to claim compensation. In the case of vehicle damage during a road accident, people either settle it within themselves or it sometimes is also dependent on their insurance company.
What is Third Party Insurance ?
Whether you’re hitting the road on four wheels or two, you’ll need insurance coverage to stay legal–and to protect yourself and your property from unexpected damages. Just as you need a motorcycle license to operate a motorbike or dirt bike on public roads in Texas, you’ll also need minimum motorbike insurance before you head out. Here’s what to look for.
1. Know the state requirements
According to the Indian law, it is compulsory for you to get your vehicle insured using a third-party insurance. This type of insurance covers the bodily damages/property damage – caused by your vehicle to a third party.
Comprehensive insurance is a good idea to cover your two-wheeler insurance against small and big damages as it includes own damage expenses to the vehicle along with covering third party legal liability. The riders receive claim for the damage caused due to man-made perils or natural disasters.
Benefits of Two-wheeler Insurance Renewal
It has recently been reported by the UK press that one in four UK citizens do not take out travel insurance when they travel. According to Sainsbury Finance, nearly a third claim that they do not even need travel insurance while one fifth state that they can’t afford travel insurance. The poll was conducted recently of 1000 travelers for the company.
While technically you can purchase a travel protection plan as late as up to the day before you leave, there are many reasons why purchasing a plan early is the way to go. We suggest that you purchase a protection plan as soon as you pay your first initial payment towards your planned trip!
While buying a two-wheeler, we take into consideration many factors such as model, affordability, mileage, brand value, and a lot more. Which insurer to choose and what insurance plan to buy are probably the last questions that strike our minds. We realize the importance of a two wheeler insurance policy only when we realize that o ride our new bike it is mandatory for us to have a two-wheeler insurance policy. As a consequence, we blindly buy any policy that is offered to us by our dealer.
Travel insurance comparison is a superior way to obtain out a lot more may possibly presently be interested in, and to get extra comprehensive information and facts on travel insurance plan, that you believe can give you the protection you will need. No matter how beneficial you believe you presently own choice about who you ought to obtain, all of us could benefit by comparison. Here are some factors why.
Understanding the real value behind any kind of policy like car insurance is tough for a layman to understand. Unlike an investment instrument which has clear value proposition that you get certain amount of money in return after a certain period of time but that is not the case of car policy. Generally car insurance is always perceived to be a cost. You can actually understand the value when you make a claim. Like any other financial product a car insurance policy is also a tough to decipher as a product if we want to understand it feature by feature.
Motor insurance is a mandatory thing as per India law. This is the minimum regulatory requirement before driving any form of motor vehicle on Indian roads whether it is a two wheeler for a four wheeler and whether it is meant for personal or commercial use. Any form of motor insurance plan whether meant for two wheeler or four wheeler available in the country today offers two form of insurance cover under any comprehensive plan. The first part is called the own damage cover and the other form is called the third party cover.
Bajaj Allianz General Insurance today launched an industry-first Telematics service offering called Drive Smart. With a host of services such as feedback on the driving habits, rewards for good driving behaviour, and several safety and utility features, the company is looking to redefine the way motor insurance premiums are calculated.
