• Is Purchasing An Insurance Coverage With A Five-Year Term Required?

A five-year vehicle insurance coverage is required for new two-wheelers, and a three-year policy is required for new four-wheelers under the Vehicles Act of 1988. When you buy bike insurance, and it expires, you can decide for yourself the length of your subsequent coverage when it is renewed.

  • What Occurs If The Two-Wheeler Insurance Is No Longer Valid?

Motor vehicles must have third-party insurance to operate on public roads. Therefore, riding with invalid insurance coverage is considered criminal if your third-party insurance expires. As per the relevant law, this may result in severe fines. You won’t be able to use the coverages provided by the two-wheeler insurance policy after your damage insurance cover expires. You will forfeit advantages like the no-claim bonus or personal accident cover in bike insurance that can be carried over when the policy is renewed. Although insurance companies typically advise you to renew your policy 30 days before it expires so you “don’t miss the renewal period.” *

  • What Are The Benefits Of A Two-Wheeler Insurance Policy’s Zero-Depreciation Add-On Cover?

The following benefits are yours if you select a zero-depreciation add-on cover with your two-wheeler insurance policy:

• You receive complete coverage without paying for the depreciation of your bike or the repaired parts.

Why By offering suitable coverage, zero-depreciation insurance improves your comprehensive bike insurance.

• A regular cover’s value is increased by the value of a zero depreciation cover.

• When settling claims for two-wheeler parts that are insured, depreciation is not considered.

  • How Can I Obtain A Digital Copy Of My Insurance Policy?

It would be considerably simpler and quicker to obtain a duplicate copy of your policy if you buy bike insurance online. You can download your insurance online from the insurer’s website, though typically, insurers send a copy of the policy documents to the registered email ID. The steps are as follows:

• Go to your auto insurance provider’s official website.

• Log into your account or select the link to download the policy from the website.

• Give your policy numbers and any other information needed, such as your email and mobile number.

• For verification, you can get an OTP on the mobile number you registered.

• The insurer will email you a digital copy of your auto insurance policy or certificate when you correctly enter the OTP and submit your request.

• You can quickly obtain a copy of your auto insurance policy or certificate from the email.

  • What Does A Two-Wheeler Insurance Policy’s Zero Depreciation Cover Entail?

A 0% depreciation benefit is available as an add-on or covered under the vehicle insurance policy. This protection enables you to receive the full amount insured for your bike without any depreciation. The insurance provider often pays the full amount of your losses when you file a two-wheeler insurance claim after deducting the depreciation value of your vehicle and its components.

* Standard T&C Apply

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

By Genaro Martin

Linda Martin: Linda, a renowned management consultant, offers strategies for leadership, team building, and performance management in her blog.