Why You Should Buy Two Wheeler Insurance Policy

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A two wheeler insurance policy also gives personal accident cover and offers other financial benefits like NCB and cover for towing charges.

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Presentation Transcript

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1 Copyright©2017 Comparepolicy.com Why You Should Buy Two Wheeler Insurance Policy

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2 About Us Compare Policy is an IRDAI licensed Insurance Web Aggregator, providing insurance buyers an online platform to compare and choose the best-suited plan. We offer our customers with the opportunity to compare premium rates for all leading Insurance players, compare their prices, key features and make an informed buying decision. Our technology enriched, smooth comparison engine provides unbiased information which is user-friendly. We, at Compare Policy, are committed in providing the best insurance solutions to our customers with the help of our team of experts. Our highly experienced expert team assists the customers with the best insurance deals, which is hassle free and best fit, in the quickest possible time. We are partnered with all Top Insurance players in the market. Established in the year 2015, Compare Policy has managed to reach out to a considerable number of customers across the country within a short span of time through our dedicated and convenient services. Copyright©2017 Comparepolicy.com

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3 Introduction Two wheelers are the vehicles of choice for Indians. In addition to being economical and effective, two wheelers provide a convenient way of transportation on the busy and unstructured roads of India. Due to the increasing demand of two wheelers, the motorcycle industry has been able to witness the most explosive growth which is expected to sustain till 2020. The segment is expected to expand to 20 million units per annum in 10 years. Talking about production, India is the second largest producer of motorcycle in the world and in the year 2015, 16.1 million two wheelers were manufactured in India. Copyright©2017 Comparepolicy.com

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4 Introduction Even after being a country of biker where one in three households own a two wheeler, most of the people are not aware about the importance of two wheeler insurance. People consider two wheeler insurance as a financial burden or just a mandatory law in India. But a two wheeler insurance policy is much more than that. It could do wonders to your life by providing benefits in various ways, but to avail these benefits the only thing you need to do is to understand the importance of two wheeler insurance and buy the best policy for yourself. Copyright©2017 Comparepolicy.com

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5 Need of Two Wheeler Insurance Two wheelers are considered to be way more vulnerable to road accidents than any other vehicle. This is because a person on a two wheeler is more exposed to danger than a person seated in his car. Having a two wheeler policy which provides protection against your own damage and other dangers on road becomes compulsory. It is even mandatory to have a third party two wheeler insurance for every driver and owner.  Driving a vehicle without a motor insurance is considered illegal in India. Copyright©2017 Comparepolicy.com

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6 Need of Two Wheeler Insurance In addition to providing protection against loss and damage due to accidents on roads, a two wheeler insurance policy provides protection against various man-made and natural calamities also. So you don’t need to worry about the complete loss or damage to your vehicle in case of natural or man-made calamities like earthquake, flood, fire, etc., as your two wheeler insurance policy will take care of it. Copyright©2017 Comparepolicy.com

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7 Buying the Right Policy There are more than 15 motor insurance companies in India with various motor insurance policies and choosing the right one for you can be tricky sometimes. It is your responsibility to choose the right two wheeler insurance policy on the basis of your need and situation as different two wheeler insurance policies offer different benefits. You also need to go through the various terminology of two wheeler insurance like IDV, depreciation rate,  NCB, etc., so that you can take advantage of your policy. A wrong two wheeler policy will not only become a financial burden to you, but will make you vulnerable to loss and damages on the road, even after having a policy. Following are the basic things which you need to keep in mind before buying a two wheeler policy:- Copyright©2017 Comparepolicy.com

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8 Your Need Understanding your need before making any decision allows you to shape your decision in the best possible way, so that you can be more effective and efficient. The same thing goes for a two wheeler insurance policy. Before making any investment, you must understand and analyze the main motive behind it, so that you don’t have to face any hassle in future. Questions like, why are you buying the insurance policy ? What are the returns you expect? Is this policy feasible according to your budget? must be answered before buying a two wheeler insurance policy. Buying the Right Policy Copyright©2017 Comparepolicy.com

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9 Type of Your Vehicle Knowing the type of your vehicle allows you to choose the right two wheeler insurance policy.  You should always buy the policy on the basis of type, make and model of your two wheeler. This is also important because you actually get an approval from the insurance company and this can influence the amount of the premium of your two wheeler insurance policy also. Buying the Right Policy Copyright©2017 Comparepolicy.com

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10 Insurance Cover A two wheeler insurance policy provides cover for various types of damages and loss which are as follows:- 1. Natural and Man-made Calamities: A two wheeler insurance policy protects you from the following natural and man-made calamities:- Copyright©2017 Comparepolicy.com

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11 Insurance Cover 2. Personal Accident cover Personal accident cover is one of the most important cover which a bike owner or driver should consider. The claim amount in a personal accident cover is limited to a certain amount. Under this cover, an insurer provides protection against loss or damage (injury) while travelling, mounting or dismounting from your vehicle during driving. You can also get cover for co-passenger by paying an additional price. 3. Third Party Cover This is not only a mandatory cover for any two wheeler driver or owner in India, but it is one of the most important cover of two wheeler insurance policy also. The third party facility in a two wheeler insurance policy provides cover against legal liability which occurs in the event of an accident resulting in the permanent injury or death of a third party. The cover provides protection against damage caused to the adjacent property. Copyright©2017 Comparepolicy.com

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12 Best Two Wheeler Insurance Providers Copyright©2017 Comparepolicy.com

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13 Contact Us Registered Office: H. No. 91, Block A Pkt 2, Sector 8, Rohini , New Delhi – 110085 For sales queries: +91 - 7836966356 Complaints/suggestions: help@comparepolicy.com Copyright©2017 Comparepolicy.com

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14 Thank You!!! Copyright©2017 Comparepolicy.com

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