Is It Mandatory To Buy A Bike Insurance? Or It’s Optional?

Is It Mandatory To Buy A Bike Insurance? Or It's Optional?

In most countries, everyone must carry bike insurance, but in some countries, it is not required for every person. According to Indian government laws, it is mandatory to have at least third-party bike insurance for a two-wheeler in India. For those who are not familiar with 2 wheeler insurance or bike insurance, below are some points through which you can learn more.

Why Is Bike Insurance Mandatory In India?

Insurance of bikes is mandatory in India because of motor vehicles act was established in 1998, in which all types of motor vehicles are included; the 2-wheeler bike is one of them and has at least third-party insurance required. The main role of buying two wheeler insurance is to protect from damage to vehicles and life as well. 

If, in case, an accident occurs, then all the compensation will be provided by the insurance company if you have already taken 2 wheeler insurance. If you do not have bike insurance, then it can be a major issue that can cost you a huge penalty. 

Sometimes you will have to pay penalties if you are found guilty. So, we suggest you don’t forget to purchase insurance for your bike as well as your life. Below are described how you can get extra benefits from a motorcycle insurance company.

How Can You Get Extra Benefits From A Bike Insurance Company?

People can grab lots of benefits from the insurance company once they purchase their 2-wheeler vehicle insurance. Some step you need to follow which is mentioned below.

1] Choose The Best Insurance Policy

You should select the best two-wheeler bike insurance company that fits your budget and also fulfils all the facilities under insurance through which you can claim easily. Before taking your two wheeler insurance, you need to be very careful about the insurance company as well as their rule and regulations. 

2] Acknowledge Your Required Coverage

Here, you have to read all the documentation parts of the insurance company that you are going to purchase and whether that company is granting all the proper format of documentation. Suppose some insurance companies do promise their rules verbally. In this situation, you need to ask for implementation on written valid documents. 

3] Prepare A Perfect Claim File 

If by any chance you get damaged or theft of a 2 wheeler vehicle or if you get an injury, in this situation, you will have to protest with your insurance provider. This typically involves presenting all the necessary documents, in particular your Aadhar card, PAN card, driving license, etc., so that you can claim very easily.

4] Wait For Claim Approval

Once you submit all the required documents for your bike insurance claim, it will take some days to review your attachment, whatever you have given to the insurance company. The company will check the validation against your claim. If it finds that you fall under all the rules, then the company will approve your claim and dispense you.

5] Get Reimbursement

If your claim is approved successfully by the bike insurance company, then you will be able to receive your benefits in the form of payout, reimbursement, or changing of damaged goods, depending on the type of insurance you have taken.

To Summarize

In general, it’s necessary to check all the laws which are made by the government and follow them nicely. Everybody should take bike insurance with at least the minimum required coverage. So, your bike will be in a safe zone, and if any problem happens in the future, then you can claim your two wheeler insurance easily.

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