Whether or not you’re reducing by way of site visitors on two wheels or roaring down the freeway in your automotive, the very last thing you wish to concern your self with is insurance coverage jargon. However sadly, accidents, thefts, and even a pure catastrophe don’t knock in your door earlier than they occur. That is the place the suitable motor insurance coverage involves the rescue.
However do you want totally different insurance policies? What are the kinds? What do you imply by “OD” or “NCB”? On this weblog, we’ll demystify all of it so that you could drive on the street with confidence.
Understanding the Fundamentals of Motor Insurance coverage
Whether or not it’s a motorbike or car insurance, it offers monetary safety on your automotive. This fashion, in case your bike or automotive sustains any injury, will get stolen, or is concerned in an accident, the ensuing monetary pressure isn’t all yours to bear. It additionally shields you in case you injure somebody or injury their property together with your automotive.
Although the aim is the identical for each vehicles and bikes, the main points of protection and add-on choices differ barely due to the way during which these automobiles are put into use and maintained.
Two Wheels or 4—The Core Sorts Keep the Identical
Motor insurance coverage usually falls into three main classes—and this is applicable to each vehicles and bikes:
1. Third-Get together Legal responsibility Insurance coverage
That is the naked minimal you’re legally required to have below the Motor Automobiles Act, 1988. Whether or not it’s a automotive or a motorbike, this coverage solely covers damages or accidents you trigger to a different individual or their property. It doesn’t cowl your personal car. It’s inexpensive however restricted.
2. Standalone Personal Injury (OD) Cowl
It’s a coverage designed to guard your bike or automotive from accidents and being damaged into by somebody with out your permission. You’re solely eligible to buy this after you could have a third-party coverage. You may personalise your insurance coverage to suit how you reside.
3. Full Protection Motor Insurance coverage
It’s possible you’ll buy third-party legal responsibility and own-damage cowl and you’ll add roadside help, zero depreciation and engine safety. For small vehicles in addition to for sport bikes, this coverage ensures you get consolation.
Why It’s Important for Common Folks
Lots of people solely buy automotive or bike insurance as a result of it’s required by regulation, however its true advantages are far more than that. Right here’s the explanation common customers ought to care:
- Denting your bike or paying for a brand new one after it’s stolen can value so much. Being insured makes the loss much less harsh.
- A Cashless Storage Community means cashless repairs at partnered garages, making automotive and bike repairs faster and simpler for patrons.
- Many insurers now supply a digital-first expertise, letting you elevate and monitor claims on-line—no paperwork, no stress.
On-line Insurance coverage: The Smarter Route
Whether or not it’s a sedan or a scooter, shopping for or renewing your coverage on-line is the way in which ahead. Why?
- Instantaneous Comparisons: Simply evaluate plans, protection, and premiums throughout insurers.
- No Middlemen: Lower your expenses by avoiding agent commissions.
- 24/7 Availability: You may insure your trip at midnight if you wish to—there isn’t a want to attend for workplace hours.
- Paperless Course of: Add your paperwork digitally and full KYC in minutes.
Issues to Watch Out For
Earlier than hitting that ‘Purchase Now’ button, listed here are a number of suggestions that apply to each automotive and bike house owners:
- You should definitely verify the fantastic print and see what just isn’t included within the coverage. Insurance coverage doesn’t cowl injury attributable to drunk driving or driving with out a legitimate license.
- Be sure you select the correct IDV. Setting it low will value you extra throughout a declare.
- For reliable declare settlement, choose an insurance coverage firm with a excessive CSR (greater than 95%).
- Don’t let your coverage expire, otherwise you could be fined, compelled to get your automotive inspected, and even lose NCB.
Is It Doable to Get Completely different Automobiles Insured Collectively on the Identical Coverage?
Although you can not insure a motorbike and a automotive below a single coverage, a number of suppliers will allow you to lower your expenses if you happen to insure a number of automobiles with them at one time. Due to this fact, it turns into simpler for organisations to handle insurance policies all through their life.
Let’s take a look at an instance. Rohan drives a automotive solely on the weekends however makes use of a motorbike to journey to work from Monday to Friday. He first selected regular third-party insurance coverage insurance policies for every of them. Since his bike and automotive had issues within the monsoon, he determined to take complete plans with roadside support and no depreciation cowl. Along with saving cash, he felt so much much less tense.
Conclusion
Whether or not it’s two wheels or 4, the suitable insurance coverage isn’t about spending extra—it’s about selecting properly. Automobile and bike insurance coverage insurance policies serve the identical goal: to guard you, your car, and your peace of thoughts. As a each day commuter or occasional traveller, realizing what you’re shopping for is half the battle. So the subsequent time you rev your engine or flip the ignition, bear in mind: it’s not simply concerning the trip, it’s additionally about using sensible.
