How To Renew Two Wheeler Comprehensive Insurance policy

Comprehensive policy in motor insurance

A comprehensive policy is a policy that covers the damage to the owner's vehicle along with the damage done to the vehicle met in an accident.

Most of the vehicles insured in India are having third-party or liability insurance.

Thus having a two-wheeler comprehensive policy covers the damage done to your own vehicle due to accidents, fire, theft, natural calamities, explosion, and so on. 

While purchasing an online comprehensive policy, Addon cover is provided by paying an extra premium they are road assistant cover, engine cover, etc.

An extra premium for a Personal accident policy is charged, so if you have a PA policy you may Ignore it.

While you purchase a vehicle most automobile dealers hand over the insurance policy along with it. Check the duration of the policy, it may be for a year or five years.

Having third-party insurance is compulsory for two-wheelers. To implement this, the insurance policy provided for a new vehicle is for five years.

The comprehensive insurance policy provided to you may be for a year or three years, out of five years, and for the rest of the year, the insurance policy that covers your vehicle is third-party insurance.

You can renew your two-wheeler comprehensive policy before its expiry, or continue your policy as a comprehensive policy by paying the additional charge and getting it converted from a third-party policy to a comprehensive policy.   

You can renew your policy online and check your premium by entering the details, it can be checked by entering your vehicle number also. Get the best quote from competitive insurance companies, the policy is issued instantly once your payment is successful.                              

Important factors to be considered while purchasing a two-wheeler comprehensive policy.

No claim bonus (NCB)

It is a reward you can avail of during the renewal of your motor insurance policy.

If your policy is for renewal always check your No claim bonus, it is rewarded for not having any claims in the previous year.

Discount is offered on the insured amount it keeps on increasing each year if no claim is made for the previous year.

Personal accident cover

It is mandatory to buy a pa cover.
It can be bought bundled along with the policy or can be purchased separately.
The benefits of PA cover are,
Financial assistance in case of permanent disability.
Financial assistance to the family in case of death.

Insured Declared Value (IDV) of a vehicle

It is the market cost of your vehicle at the time of purchasing a motor insurance policy.

Claim process

In case of an accident, or theft of a two-wheeler you may have to inform your insured company first, they may be by email, phone call, or through the company mobile application.

To start this process duly fill out the claim form, an FIR has to be made at your nearest police station, it is mandatory in case of theft.

Documents required are your personal proof, Aadhaar, vehicle RC book driving license of the owner or of the person driving the vehicle.

Facilities provided by insurance companies include,

Cashless claims

Nowadays cashless claims can be settled by repairs done to the damaged vehicle at the network garage. 

Reimbursement settlement 

You can get your vehicle repaired at the garage of your choice and pay the repair bills, then you can reimburse the paid bills with the insured company by submitting the original bills, and payment receipt.

Thus while purchasing a two-wheeler comprehensive policy you may have to pay an extra cost, as compared to a third-party insurance policy, but the benefit is that the damages and losses that occurred to the third party during an accident will be paid by the insurance company.