Just like there are a lot of bikes in the market to choose from, there are so many insurance products for our bike. It is important that we buy the insurance product which has a good track record of honoring the claims.
I asked a few friends in facebook and they said that they had a good experience with ICICI.
Here’s what Omer says:
Omer: “I bought a Karizma ZMR from Hyderabad Hero Honda Showroom on Aug 09. One day here’s what happened… I was speeding my ZMR above 100 kmph and those were the rainy days. I lost control and smashed the bike. The front fairing, handle bars, front shocks, rim, meter set and other stuff were completely damaged… excluding me (Thank God). I got it repaired from Hero Honda showroom and the bill was around Rs.25,000! And the amount I recieved from ICICI Lombard after the insurance claim was Rs.17,000. I think ICICI Lombard is a good insurance product. They also have online payment option.” – Omer (facebook.com/omerz33)
Even of you have some other insurance right now, you can start using ICICI Lombard after your existing one expires. They have an online tool where you can calculate your insurance premium at no cost.
They have an online payment option too. A digitally signed policy is issued immediately through their online facility.
Saber: “I am using ICICI Lombard since 2 yrs now, I find the insurance to be good enough, I chose ICICI as one of my friend had the same for his bike and got his insurance claims in time, as of now I’m not facing any issues so haven’t claimed anything from them, but when the time comes, I hope they will honor my claims.” – Saber (facebook.com/mir.s.ali)
Why you need the Right Motorcycle Insurance
A larger number of small town people in India prefer to buy a motorcycle instead of a car. Because two – wheelers serve the purpose of the travel one needs to do. Still, accidents and unfortunate events can happen anytime and thus, you need to be prepared for the same to protect your savings.
Getting the right motorcycle insurance for your bike in India is important for your safety. This will safeguard your motorcycle from theft as well as damage due to an accident.
Moreover, insurance is mandatory according to Indian law. When you are applying for a two wheeler insurance or a bike insurance, always remember that there are certain factors that will affect your final premium rates.
Your age, gender and past payment records are some of the essential factors that will influence your final rates. In spite of these factors, you can still get motor insurance. In order to get a motorcycle insurance policy, you need to obtain more than one rate quote.
Since insurance company premium prices vary, it is better to browse through their websites to get the best two wheeler insurance quotes and rates that suit your budget.
In order to make the process less complicated, motor insurance companies have streamlined their policies to suit the two-wheeler owners in India. Most companies have tied up with automobile manufacturers to provide better insurance services.
Types of Motorcycle Insurance
Motor insurance policies are generally of two types, comprehensive and third-party. While a third-party policy covers only damage to other people or property, a comprehensive policy covers the risks to both parties as well as the motor parts of your vehicle.
What if you don’t have Motorcycle Insurance?
Remember to never get caught driving a bike without proper bike insurance. This not only puts your life at risk but you will also have to face the legal consequences, if you do not possess an bike insurance policy. Your policy is your ticket to a safe and secure drive.
We suggest you to browse through about five motor insurance sites online. By reviewing the options online, you will get a fair idea about the choice you want to make. Most of the renowned insurance companies will offer you online comprehensive packages and enable you to save a lot on your motor insurance. Thus, you should make a smart choice before buying the two-wheeler insurance for your motorcycle.