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Should I buy a two-wheeler in the festive season?

By Finserv MARKETS - Nov 26,2019
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Is it suitable to buy a bike this festive season

The 45-day festive period that starts every year from Navratri and culminates after Diwali is a crucial time for auto companies as a major chunk of their yearly sales come from this festive season. The festive season has traditionally been the period when Indians purchase new two-wheelers, home appliances, cars and therefore the market is currently abuzz with festival sales and discounts.

Why buy a two-wheeler now?

This year, the festive season comes amid a sluggish economy. However, the domestic auto sector is hopeful of a turnaround because of attractive offers, good monsoon and both Dussehra and Diwali falling in the month of October. Moreover, the two-wheeler segment which has seen consistent growth over the years is ready to kickstart the festive season with offers galore. According to SIAM, two-wheeler sales in the domestic market stood at 1,81,25,656 units in the April-January period in the current fiscal year compared to 1,67,71,630 units in the same period last fiscal, implying a growth of 8.07 percent.

So, if you are planning on buying a two-wheeler this festive season, you have a handful of attractive offers to choose from. Apart from discounts on two-wheelers, you can also avail benefits through bike exchange offers that help you save a considerable amount of money.

Why buy a two-wheeler at all?

Considering the rising menace of traffic and the ubiquitous potholes in almost every city, two-wheelers are a smart choice for commuting. With the rapid urbanization, millions of young professionals are moving to cities for better job opportunities and a better standard of living. With youth flocking in localities at a distance from their workplaces, two-wheelers have emerged as the most popular vehicle for commuting purposes as they save time, can brave the rough roads and are affordable.

If you have been eyeing a two-wheeler too, now is the right time to purchase it. Various two-wheeler manufacturers have announced their two-wheeler festive sale discounts for the month of October. Bajaj Auto, for instance, has introduced offers up to Rs 7,200 on a selected range of motorcycles. In the two-wheeler festive sale discount, it is offering associated benefits like five years of free warranty, attractive cash discounts, bike exchange offers, and added benefits on services.

Why insure your two-wheeler?

Now, purchasing a two-wheeler also come with a fair share of responsibility like buying mandatory two-wheeler insurance and driving responsibly. The number of road deaths in India rose to 1.49 lakh in 2018 with the state of Uttar Pradesh topping the charts in the number of fatal cases, an increase of nearly 2,000 fatalities when compared with 2017. On the other hand, Tamil Nadu recorded the biggest dip in fatalities of almost 25%. In Tamil Nadu, there were 3,941 fewer deaths on the road when compared with 2017.

Therefore, the government has made Third-Party Bike Insurance compulsory for riders to safeguard the life of citizens against any untoward turn of fate. Two-Wheeler insurance offers us a safeguard against any unexpected accident you and your bike may encounter. And considering the increasing instances of road accidents, it is in your best interest to purchase a comprehensive insurance cover with adequate add-ons to suit your requirements. You can also read more about differences between comprehensive insurance and third party insurance before purchasing your motor insurance policy.

How to purchase a two-wheeler insurance cover?

Purchasing two-wheeler insurance has become increasingly instantaneous and easy over recent years. Today, covers like Two Wheeler Insurance, available on Finserv MARKETS, offers a host of benefits like free servicing, no claim bonuses, etc. Finserv MARKETS is a platform that makes available, a bouquet of options for you to carefully select based on your priorities and requirements.

These two-wheeler insurance policies available on Finserv MARKETS cover losses and damages sustained by your bike against natural as well as man-made calamities. What’s more, you can buy a two wheeler insurance instantaneously online and avail cashless servicing at more than 4,000 garages across the country. The entire process is online, seamless and requires only minimal documentation.

With the government’s recent announcements to propel the economy forward and the ongoing two-wheeler festive sale discounts, the time is ripe to make the purchase now. In recent months, the auto sector hasn’t achieved the growth it had hoped for and therefore, the companies are going all out to boost the sales during the festive period. This is a golden opportunity for those who were waiting for some good benefits on purchasing their two-wheeler. If you already have a bike and are looking to upgrade during this two-wheeler festive sale discounts, you can easily avail the bike exchange offers this festive period.

Read our top blogs to know more about two wheeler insurance in India:

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522