Having an insurance policy for your vehicle is one of the mandatory requirements of driving on Indian roads. Chances are that you already bought an insurance policy while purchasing your bike. However, now that are you ready to sell it, have you considered what happens to the bike insurance policy? You obviously don’t need it since the bike is no longer yours, but you do need to safeguard yourself against any future damages that the new bike owner may accidentally incur. For that reason, the best insurance provider will always provide you with the option to transfer the insurance policy when you are transferring ownership of the bike.
Anybody who has ever ridden a bike on Indian roads knows it is a potential hazard owing to the poor conditions of roads. Insurance companies in India offer two types of policies. The difference between third party and comprehensive insurance is that, while the third-party cover is cheaper and covers only third-party damages, the comprehensive cover offers wider coverage and is hence, slightly expensive. A comprehensive insurance policy that financially protects not just you and your vehicle; but also insures you against third-party liabilities is a requisite to being safe. Accidents can happen to the best of us, and being prepared to deal with them starts with acquiring a two wheeler policy that acts as a cushion against any unforeseen events.
The Bike Insurance plan, available on Finserv MARKETS, will allow you to file claims and renew your policy online easily. With this policy, you are assured of 24×7 bike roadside assistance which includes towing facilities for your vehicle, as well as accommodation and taxi benefits for the ride.
Transferring bike ownership, along with freeing you of the responsibilities of the vehicle, also bring along certain benefits. For instance, if you have never filed a claim for the vehicle to your insurer, you become eligible to receive a No Claims Bonus (NCB), which can also result in discounted premiums for the next insurance policy you get on your new vehicle. NCB works as an incentive provided by insurers to encourage you to drive safe, not cause damages and thus not file any claims to the insurer.
As the new owner of this insurance policy, you need to ensure that your vehicle is protected from all sorts of damages. To get an idea of what the best bike insurance policy should cover, head over to the Finserv MARKETS and view the benefits that you could avail with the least amount of effort. Some benefits you would be privy to include cover for any losses sustained to the vehicle due to natural calamities or even man-made disasters, while any other repairs or even replacements for parts that the bike might require would be covered under this comprehensive bike insurance policy. This policy allows for incredible transparency and hassle-free processes, and even allows you to renew the insurance for your bike.
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