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The Art of Buying Two Wheeler Insurance - Tips and Tricks you should know!

When there’s an option to choose, there’s scope for some indecision while making the choice. Too many options come with their own set of pros and cons.

Read on to know how you can get the best in these four simple steps!

Step 1 - Two-wheeler Insurance Coverage

Do you feel the need to just not buy it? Do you have the urge to just skip this process? The answer is NO!!!

The primary aim of any insurance is to minimize financial losses in case of unfortunate events that are covered by the policy. Thus, the coverage aspect of your two-wheeler insurance is number one on the priority list and there is no other option but to have this if you own a two-wheeler!

The first step is to figure out what kind of coverage you need. In this industry, it is said a Comprehensive type of coverage is considered as the best two-wheeler insurance policy because of its coverage features. It covers the mandatory Third-party Liability Insurance as well as Own Damage. You can also customize and go for appropriate Add-ons to strengthen your policy, this is optional and can be opted by anyone.

Step 2 - Two-wheeler Insurance Price

A bit of research will tell you which insurance provider offers what kind of coverage. This step is crucial in identifying what kind of coverage you need, once this is clear then your search can be narrowed down.

Different Insurance providers provide policies at different costs, this is an area where you have to very careful and make sure that you don't fall prey to this.

There are web aggregators as well who compile such data and present to you the lowest priced policy. While dealing with such websites, it is important to double-check the coverage offered by the lowest priced policy. Coverage shouldn't be compensated for the price as it defies the primary aim of insurance.

Note that, Two Wheeler Third-party Insurance rates are fixed by Insurance Regulatory And Development Authority Of India (IRDAI), the premium charged varies for Comprehensive Insurance policies.

Step 3 - Two-wheeler Insurance Provider

Now, once you are sure about your coverage and have an economical value bracket in your mind, the next step is to choose the insurance provider.

Most of these providers have an online presence making it easy and assessable for anyone to purchase a Two Wheeler Insurance. It does not end there.

An insurance provider's viability should be based on the pre-purchase and post-purchase support offered.

Leading insurers have a smooth user journey. The user interface is easy to understand and navigate. As a result, the overall user experience tends to be comfortable. It is important for you to know what is covered and what is not covered by the chosen policy, and then make the payment.

The aftercare or the after-sale period provided by the insurance provider usually makes or breaks them Insurance is not like an over-the-counter product that can be felt immediately after purchase. It is a financial product that safeguards the insured from incurring huge losses. This is done when the insured person's claim is realized. Thus, an insurer's claim settlement process is of utmost importance. That process has to be transparent, convenient, and hassle-free.

Another tip for you to make sure that you are completely stress-free - Check the Two Wheeler Claim Settlement Ratio. This is usually generally mentioned on the website.

Apart from that, checking user reviews is also a good option. Speaking to friends and relatives who have purchased insurance from that provider can be helpful. Social media handles of the insurer can also give insights to its brand personality.

Step 4 - Two-wheeler Insurance Purchase and Renewal

So the major decisions are already made! Now when you are ready and happy with your choices, you make the payment, your insurance policy document is sent to your registered email’s inbox within minutes.

Important Tip - Make sure to keep renewing your policy in a timely manner to ensure that you are never out of coverage when it comes to insurance.

Now, what are you waiting for? Go and buy that Two Wheeler Insurance that you have been putting off for so long!

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