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Buying a 2 wheeler insurance policy is a mandatory expense for the owner of the 2 wheeler. The 2 wheeler usually is a motorcycle, bike, scooty etc. Even government has made is compulsory that the person owning a two wheeler must get a 2 wheeler insurance done. Various options or plans are available for 2 wheeler insurance. It is only that one should know to choose the right one. So question here is how to choose the right one? What all factors should be considered? This article will provide with the answers to such questions. A 2 wheeler insurance policy protects the rider and the vehicle against the expenses incurred due to the damage to the vehicle due to accident. It is easier to get a 2 wheeler insurance policy. One can buy a 2 wheeler insurance policy online as well as offline. A number of factors should be taken into consideration before selecting the 2 wheeler insurance policy. Some of the factors that one must consider are given below: • Although price is a factor one should look for, this does not mean that the insurance policy that is most expensive need not be the best. Also the 2 wheeler insurance policy that is good for you need not necessarily be good for someone else. It depends on an individual and his needs. Price should be one of the factors that one must consider while buying a 2 wheeler insurance policy but it should not be the only factor to be taken into consideration. • Check with the insurance companies whose policies you already hold. If they provide 2 wheeler insurance policies too then you might be able to get some discount on the new policy. But go for the policy only if you feel it suits you and not because you will get a discount. • Don’t rely completely and blindly on the insurance agent or the broker. Carry on some survey about the available policies, compare them and then buy the one that you feel is the best. • Look for the upper limit of the coverage and consider if it will be enough or less when you will need to file a claim. • Premium is another factor that should be taken into account while choosing a 2 wheeler insurance policy. One must regularly pay premiums in order to keep the policy valid and forceful. • Compare that the benefits and coverage you obtain or the upper limit is worth compared to the premium that you are paying. • Geographical area: Many companies have specific geographical limits and the policy is valid only with in this limit. Any accident or damage that occurs outside this limit is not covered. • The services that will be covered and the ones that wont be covered both should be taken into consideration. • Last but not the least, read the contract document carefully and if any doubts then clear it with the agent or the broker before signing the contract document. Author Profile: Pranav Sharma is an insurance agent based in Mumbai; Pranav assists individuals and corporates in purchasing the right 2 wheeler Insurance & often shares his insights about the Motor insurance industry on internet.
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