Benefits of Buying Two Wheeler Insurance : Most of us in India own two-wheelers
and they are the most popular mode of transport. There is, however, one risk that we
must all be prepared for if we want to continue to enjoy the freedom that twowheelers provide: accidents.
The advantages of three wheeler insurance are many and varied. We’ve put together a
list so you can decide for yourself if it’s worth it to buy this coverage for your
Here are some of the top reasons to have it:
It’s a basic form of insurance that covers you no matter what. Unlike other forms of
car insurance, it doesn’t require you to have a car or two-wheeler insured with the
same company. You can opt for third party liability coverage instead and still be
covered if you’re involved in an accident. This means that your liability is determined
by who hits you – not where. It makes sure that the medical bills and other expenses
come back to you if there is a loss or claim on your policy. It may mean a higher
premium, but then again, business owners should be prepared to pay more for better
protection and service.
It’s simple, convenient and does the job. There is no need to compare policies with
different companies since it’s a standard cover that protects you against claims. It also
makes it easier to claim in the event of an accident.
If one person is at fault, all your payments and benefits stop immediately, even if you
want them to continue further. The money then goes to the injured party, which means
there are no problems like complications and disputes that can occur if someone else
has insurance as well.
Your financial protection is more assured because it gives you a wider coverage when
you are involved in an accident with another motorist or a pedestrian, like death or
permanent disability compensation. If a victim suffers a loss of both legs, for example,
your third party liability can be extended to cover the technical portion of their
If you’re involved in an accident, you may receive substantial compensation if you
have accident insurance. If there is a serious injury or death, this coverage may help to
pay hospital bills and medical expenses that are covered by the third party liability
Occasionally, it offers services that you would not get if you had a two-wheeler
insurance policy. For example, if there is an accident or damage to your vehicle, the
third party insurer may provide you with a replacement vehicle for up to 14 days. This
can save you from having to use public transportation or a taxi until your car is
If someone is injured in an accident for which you are responsible, your medical costs
can be paid for up to 10 years by the insurance company. This includes costs related
to pregnancy and childbirth as well as funeral services and death expenses if the
victim passes away from injuries sustained in the accident. This typically does not
happen with two-wheeler insurance policies.
It gives you peace of mind by ensuring that your family is taken care of financially
after an accident. The third party insurer will pay for funeral expenses and medical
care for up to 10 years in the event of death from an accident. This covers all legal
costs, as well as compensation for loss of salary and income as a result of death or
permanent disability. If you have dependants, they can receive monthly compensation
over the length of time you would have been covered by their policy had they been
paying the premium (i.e., until they’re 25).
Your vehicle is protected in the event of theft, when it is used in a crime or if there are
some other damages. Your third party policy can also provide coverage for damage to property like
scaffolding, transport equipment and machinery.
It can provide for legal expenses for up to one year after an accident, including the
costs associated with criminal charges.
To sum it up: Third party liability insurance is highly recommended if you have a two-wheeler or
car because it: Prepares you to deal with a variety of different outcomes related to an accident or
injury;Keeps you safe financially, as well as guarantees that your family will be taken
care of even in the event of your death.
It’s not a substitute to your regular policy, however. It provides additional coverage,
but should be used as additional coverage and not as primary insurance.
So if you’re looking for third party liability insurance for your two-wheeler, it might
be a good idea to compare policies and take into consideration the various advantages
that these policies offer. But if you’re not ready to buy another form of car insurance,
your regular comprehensive coverage can still provide excellent protection by
covering the costs and losses associated with damage to or theft of your vehicle.
Do keep one thing in mind: “Insurance is a business transaction between an insurer
and policyholder.” Prices may vary from one insurer to another. There is no guarantee
of any loss amount. You pay for the coverage you select, and in turn you get what you
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to take according to the information given above are at your own risk
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