If you own a Honda Activa scooter, it is essential to have the right bike insurance to protect yourself from financial loss in case of an accident or damage to your vehicle. With so many insurance providers and policies available, it can be challenging to choose the right one. In this article, we will discuss some of the factors to consider when choosing the right bike insurance for your Activa scooter.
Types of Bike Insurance
There are two types of bike insurance policies available in India:
1. Third-Party Insurance: This is the minimum insurance coverage required by law. It covers damages to third-party property or injury to third-party individuals in case of an accident involving your vehicle.
2. Comprehensive Insurance: This type of insurance provides coverage for damages to your vehicle as well as third-party damages. It also covers theft, fire, and natural calamities.
Factors to Consider
When choosing the right bike insurance for your Activa scooter, consider the following factors:
1. Coverage: Make sure the insurance policy you choose provides adequate coverage for your vehicle. A comprehensive insurance policy is recommended as it provides coverage for damages to your vehicle as well as third-party damages.
2. Add-On Covers: Look for insurance policies that offer add-on covers such as roadside assistance, zero-depreciation cover, consumables cover, and No Claim Bonus (NCB) protection. These add-on covers can provide additional protection and save you money in the long run.
3. Premium: Compare the premium rates of different insurance providers to find the best deal. Keep in mind that the cheapest policy may not always be the best option as it may not provide adequate coverage.
4. Claim Settlement Ratio: Check the claim settlement ratio of the insurance provider before purchasing a policy. A high claim settlement ratio indicates that the insurance provider is reliable and has a good track record of settling claims.
5. Customer Service: Look for insurance providers that offer good customer service and support. This can be helpful in case of an emergency or when filing a claim.
Benefits of Getting Bike Insurance for Your Activa Scooter
Here are some of the benefits of getting bike insurance for your Activa scooter:
1. Financial Protection: Bike insurance provides financial protection in case of an accident or damage to your vehicle. It can cover the cost of repairs or replacement of your vehicle as well as third-party damages.
2. Legal Requirement: It is mandatory to have bike insurance in India. Riding your Activa scooter without insurance can result in legal penalties.
3. Add-On Covers: Bike insurance policies come with add-on covers such as roadside assistance, zero-depreciation cover, consumables cover, and No Claim Bonus (NCB) protection. These add-on covers can provide additional protection and save you money in the long run.
4. No Claim Bonus: If you do not make any claims during the policy period, you can get a No Claim Bonus (NCB) discount on your next policy premium. This can help you save money on your insurance premium.
5. Peace of Mind: With the right bike insurance policy, you can ride your Activa scooter with peace of mind knowing that you are financially protected in case of an accident or damage to your vehicle.
Factors to Consider When Choosing an Insurance Provider
When choosing an insurance provider for your Activa scooter, consider the following factors:
1. Claim Settlement Ratio: The claim settlement ratio is the percentage of claims settled by the insurance provider. A high claim settlement ratio indicates that the insurance provider is reliable and has a good track record of settling claims.
2. Premium: Compare the premium rates of different insurance providers to find the best deal. Keep in mind that the cheapest policy may not always be the best option as it may not provide adequate coverage.
3. Customer Service: Look for insurance providers that offer good customer service and support. This can be helpful in case of an emergency or when filing a claim.
4. Add-On Covers: Look for insurance policies that offer add-on covers such as roadside assistance, zero-depreciation cover, consumables cover, and No Claim Bonus (NCB) protection. These add-on covers can provide additional protection and save you money in the long run.
5. Network Garages: Check if the insurance provider has a network of garages where you can get cashless repairs in case of an accident or damage to your vehicle.
Conclusion
Choosing the right bike insurance for your Activa scooter is essential to protect yourself from financial loss in case of an accident or damage to your vehicle. Consider the coverage, add-on covers, premium, claim settlement ratio, customer service, and network garages when choosing an insurance policy. With the right insurance policy, you can ride your Activa scooter with peace of mind knowing that you are financially protected.
