Having a third party bike insurance plan is compulsory for all automobiles plying on the Indian roads. This insurance plan provides coverage for injuries or damages caused to other people. The beneficiary is a third party only. However, if you also want to get coverage for the losses or damages caused to the insured vehicle, you can buy a comprehensive motor insurance plan. It provides coverage for third-party liability along with own damage caused to the insured automobile, such as bikes, scooters, cars, trucks, etc.

Motor insurance premium is calculated based on various factors, such as IDV, deductibles, seating capacity, cubic capacity, previous insurance history, etc. Third-party premium amounts are decided by IRDA. For comprehensive insurance plans, premium charges vary from insurance provider to insurance provider on the basis of the coverage provided. their monthly expenses.

In case your vehicle meets with an accident, you should notify the police and take spot pictures. Click pictures of your vehicle as well as the other vehicle from all angles and focus on the damages. Exchange crucial information from the driver of the other vehicle, including policy number, motor insurance provider, name, phone number, etc. Contact your insurer and file a claim in order to get your damages covered. Keep your car keys and belongings safe.may deteriorate, ultimately increasing your term policy premiums. Buying an online term plan allows you to secure your family at affordable premiums with a large life cover for a long tenure.

Generally, a vehicle insurance policy is valid for one year, and it has to be renewed prior to the due date to avoid any lapse. For a smoother insurance experience, always pay the motor insurance premium before the due date. If your policy has lapsed, then your vehicle will undergo an inspection. In addition to that, if a comprehensive insurance policy remains lapsed for a time period of more than 90 days, the benefit of a “No Claim Bonus” isn’t provided.