6 Benefits of Two Wheeler Insurance Renewal

6 Benefits of Two Wheeler Insurance Renewal

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

Timely renewal of your two-wheeler insurance comes with numerous benefits,
including:

Protection from natural calamities
Getting your bike insurance renewed on time makes sure it remains protected
from natural calamities like earthquake, cyclones, fire, landslide and other perils.
The policy will cover the damage and will also pay the compensation in case of

death of rider-owner.
Protection from manmade activities
The renewal of insurance will also ensure that the insured individual receives a
claim in case of damage due to manmade activities like burglary, theft, riots, or

accident. The insurer receives replacement charges or service cost, on the basis of
the incident.

Safety from legal issues

As discussed above, having a third party insurance is a mandatory requirement for
every two-wheeler owner. Therefore, you don’t have to face legal issues in case
of any damage to the third party if you have already renewed your policy. Also,
you don’t have to pay money from your pocket during an unfortunate event.

Access to No Claim Bonus

Renewing the policy on time is a good chance to receive discounts like No Claim
Bonus (NCB). If you fail to renew as per the deadline, you can’t enjoy these
benefits.

Sense of security

Driving a properly insured two-wheeler offers a sense of security, which is
priceless. You also stay protected from fines that are imposed by traffic police if a

valid insurance is missing.

How to make a claim on two wheeler insurance policy?

Generally, the insurers offer claim on the policy through two major processes:

Cashless claim

In the cashless claim process, the individual needs to notify about the claim via
customer support number or email provided by the company. A claim registration

number is provided by the insurer for reference purposes.

The individual needs to send his/her vehicle to one of the garages from the
insurer’s cashless network. A thorough survey is conducted at the garage by a

surveyor on behalf of insurer. The insured individual needs to submit the
necessary documents and original claim form for this purpose.

Reimbursement claim

The process in this method is also similar to cashless claim method, but the
insured individual pays the bill through his/her own pocket in the first phase.
She/he gets the reimbursement from the insurer after submitting the necessary

documents, along with original repairing bill & money receipt.

[Source: https://www.comparepolicy.com/blogs/6-benefits-two-wheeler-
insurance-renewal/]