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No vehicle can be driven without insurance in any country, legally. Valid bike insurance covers your vehicle against any damage caused due to natural calamities and disasters. Some of them are accidents, theft, riot, attacks, fire, explosion, earthquake, flood and many others. In addition to it, some insurance companies provide personal accident cover for the driver of the vehicle as well.
For buying for two wheeler renewal, you can go for conventional method or through online. With the recent boom in technology, online 2 wheeler purchase and renewal is getting popular.
The factors which you need to keep in mind while taking up bike insurance are
CC of the bike
The Cubic Capacity of the is directly proportional to the premium payable. They are categorized into 3 which are below 150 CC, 150 CC - 350 CC and above 350 CC. First you will have to be informed about the CC of your bike to take up insurance or renewal.
Cost of the bike
The insurance has to be taken based on the cost of your bike. The declared value of the policy must be based on the value of the bike.
Flexibility
Before taking policy with the company, ensure that you check with the company regarding the flexibility of the policy. In case you need to transfer the policy to another vehicle, it has to be possible.
Age and ownership
The insurance premium would increase as the vehicle gets older. Also the insurance must be in the name of the owner of the vehicle. In case you are purchasing a used bike, you have to ensure that the documents are also transferred to you. After the transfer, you can do a bike insurance renewal and continue it further.
Geography
The tariff and premium of the insurance policy depend on the geographical location. In India, the zones are divided into A and B. The premium for Zone A is on the higher side than zone B due to some specifications.
Third Party Legal liability
Some insurance companies also provide third party legal liability which means in case of accidents, the legal liabilities to manage third party damage also would be covered under this. This is a value addition which not every insurance company would provide.
Passenger coverage
Another value addition, which renowned insurance companies would provide, is passenger coverage where the passenger traveling along with the driver would also be insured.
Condition of the bike
This factor is only for insurance renewal. While renewing the insurance, you would have to take your bike along for the inspection. So make sure that your bike is well maintained to facilitate the easy renewal process.
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