When it comes to buying the best two-wheeler insurance, you will find several insurance policies online and offline (via a broker). With so many choices, there’s also scope for some indecision. Choosing particular bike insurance is a matter of choice that needs some analysis. Read further to know how you can select the best two-wheeler insurance.

If you own a two-wheeler policy, you will agree that it is the easiest and quickest mode of transport. Keeping aside its pros, this type of vehicle also reports a maximum number of road accidents. You may take several precautions while riding, but road mishaps are inevitable. Therefore, buying two-wheeler insurance is crucial.

In India, it is mandated that you own at least Third-Party Insurance as per the regulation by the Motor Vehicles Act, 1988. It is a legal offence if you’re driving any vehicle on the road without insurance. If you’re planning to buy insurance cover for your two-wheeler vehicle, you must know that insurance companies offer two types of policies, these include:

1. Third-party insurance: As the name suggests, this type of policy offers liability cover to the policyholder. The insurer will compensate if the third-party is dead or succumbs to injuries in an accident. Besides, it will also cover the third-party’s property damage cost. Note that the insurer does not provide any cover or benefit to you or your bike.
2. Comprehensive Insurance: The comprehensive two-wheeler insurance cover provides cover to you, your two-wheeler, as well as covers third-party liabilities. As compared to third-party insurance, this policy is a bit expensive.

Now that you are aware of the policies, here are some key points you should follow to select the best two-wheeler insurance:

1. Select the type: Before you begin your search for the best policy, you must determine what type is best suitable for you. In India, most bikers prefer third-party insurance as it is mandatory and reasonable. If the price factor is not your concern and you own a high-end luxury motorbike, then you may consider comprehensive coverage.
2. Choose a reliable insurer: Once you have identified your need, the next step is to find a trustworthy and dependable insurance company. A reputed insurance company always has good claim settlement ratio, which is essential from a customer perspective. You can ask your peers or directly approach the insurer to enquire about the turnaround time for claim settlement.
3. Premiums: When selecting bike insurance, the premium rate is dependent on various factors such as bike model, engine capacity, age of the owner, geographic location and manufacturing year. You will have to check and compare available plans of various companies to know the best premium rate as well as what benefits you can avail at the premium cost. This will help you find the best deal.
4. Reviews & Ratings: If you have chosen a particular insurance company, remember to view the online reviews of the company. A public review will help you decide whether you should buy a policy from that company or not.
5. Add-ons or riders: Add-ons or riders help you enhance the two-wheeler insurance coverage over and above your comprehensive policy. The different types of riders include zero depreciation value, key replacement, personal accident cover for pillion rider, an engine problem, on-road assistance, and so on. Choose any of the rider option to extend the protection; however, this will incur an extra premium cost.

Make sure you remember the above points while buying two-wheeler insurance. You can either buy the policy online or offline. For the best bike insurance quotes, visit HDFC Ergo site.

Hemant Kumar