Riding bike is a pleasure. To enjoy the ride it’s necessary to have some protective measures. The term ‘insurance’ gives a feeling of protection but at the same time it’s quite confusing. But, there are many misleading information encompassing the bike insurance. People do have lot of misconceptions about the scope and significance of two wheeler insurance. In this article, we are going to deal with some of the common bike insurance myths. Let’s get the clarity between myths and facts. Read on to know them in detail:
- Getting Bike Insurance is a clumsy process: Many people think that buying or renewing bike insurance is a cumbersome But the reality is with the digitalization, buying any type of insurance is not that difficult task. You can also buy bike insurance online at a click of a mouse. There are many comparison portals that give you comparative price. Facts and information across internet helps you buy the right policy in no time. Unlike older days, buying bike insurance is no longer a difficult thing now. Buying, renewal and claiming bike insurance is quite simple and easy.
- Comprehensive bike insurance is not worth the price: It’s true that bike insurance is ‘use it or lose it’ kind of insurance. But that does not mean it’s unnecessary. Just because of the price, many people do not go for comprehensive coverage as they feel accidents cannot happen to them. Events like robbery and accidents are something that is beyond your control. Hence, its wise and ideal decision to invest for wider coverage in comprehensive bike insurance to stay protected from all type of risk and stay financially prepared for uncontrollable event.
- If I transfer the policy I lose on no claim bonus: It’s a common misconception among many people that if they transfer the policy to another insurer they will lose out on benefits like no claim bonus. This is the reason why most of the people keep renewing insurance with the same insurer without shopping around for a better deal. But the reality is no claim bonus is attached to the insured not to the policy. Hence it can be transferred from one insurer to another. You just have to give the required declaration and complete the formality as stated by the insurer. Hence, look around and bargain for the better deal, no claim bonus attached to you will come along.
- I Have Health Insurance, I Don’t need Personal Accidental Cover: There are many people who do not feel the need of personal accidental cover as they would already be having health insurance in their name. But each type of insurance has its own purpose. Health insurance provides you hospitalization cover for any illness and the coverage is limited to certain extent. Accidents can sometimes cause temporary or permanent disability which can take off one’s ability to earn. Personal accidental cover specifically serves the purpose in such cases. Hence, it’s important to include personal accidental cover in your bike insurance even if you have a health insurance in place.
To conclude, buying the best two wheeler insurance requires you to invest some time for research, compare and understand the facts, terms and condition in detail to finalize the best suited plan as per your need. Though, it seems like a tricky task to buy best comprehensive bike insurance that can give you adequate coverage at an affordable cost, but it really doesn’t have to be that tricky if you choose the right insurer. Right information is the key for any right decision! Be informed and shop wisely!
Click on the following link to know why bike insurance is necessary https://www.acko.com/two-wheeler-insurance/