Why Every Motorist Needs Insurance: Insights into Two-Wheeler and Motor Insurance Benefits

Two-wheeler insurance offers more than just legal compliance, providing a shield against risks and financial support. Add-on covers tailor solutions to your unique needs, enhancing the value of your policy.

Motor insurance

Imagine the frustration of an unexpected mishap that leaves your bike damaged while you're on a thrilling road trip. The financial burden can be heavy enough to cast a cloud over your travel plans. However, with two-wheeler insurance or motor insurance at your disposal, such stressful scenarios can easily be transformed into minor inconveniences. 

In this article, we will delve into the benefits of two-wheeler and motor insurance, shedding light on how it can protect you from potential financial setbacks. We'll also discuss how choosing the right add-ons can enhance your policy.

Benefits of Two-Wheeler Insurance

Before we learn the benefits of buying two wheeler insurance, remember that it isn't just a protective net—it's an investment of faith in your future. Here are five key advantages that every motorist should be aware of:

1. Financial Protection Against Accidents: Two-wheeler insurance serves as a crucial financial safety net, offering coverage against the financial repercussions of accidents. In the unfortunate event of a collision, the policy helps cover the repair costs for damages to your vehicle, sparing you from substantial out-of-pocket expenses.
2. Third-Party Liability Coverage: The two-wheeler insurance plans include third-party liability coverage. It ensures that if you are involved in an accident that causes injury or damage to someone else's property, the insurance will provide compensation. This not only safeguards your financial well-being but also ensures compliance with legal requirements.
3. Comprehensive Coverage for Natural and Man-Made Events: Two-wheeler insurance often provides comprehensive protection, encompassing a range of risks. Whether it's damage due to natural disasters like floods or earthquakes or man-made events like vandalism or riots, having comprehensive coverage ensures that your bike is shielded from a variety of potential risks.
4. Personal Accident Cover: It is mandatory to buy a personal accident cover, offering financial support in the unfortunate event of accidental injuries or, in extreme cases, death. This aspect of the policy provides peace of mind to riders, knowing that they and their loved ones are protected against unforeseen circumstances.
5. No Claim Bonus (NCB) Rewards: Insurers often incentivise safe riding practices through the No Claim Bonus (NCB) system. For every claim-free year, policyholders earn a bonus, which can result in a reduction in premium costs during policy renewal. This not only encourages responsible riding but also provides a tangible financial benefit to the insured.

The benefits of two-wheeler insurance extend beyond mere legal compliance, offering a comprehensive shield against various risks and providing financial support in times of need. 

Vehicle insurance is a mandatory requirement as per The Motor Vehicles Act, 1988. Non-compliance can lead to monetary penalties and legal issues. Thus, make sure to buy vehicle insurance and keep the policy active by renewing it before its expiry date. You can buy/renew vehicle insurance easily, quickly, and conveniently via the ACKO website/app for a hassle-free insurance experience. 

Importance of Add-on Covers

Add-on covers fill the gaps that might be left by standard insurance policies. These add-ons provide tailored solutions for your unique insurance needs.

• Roadside Assistance: Opting for roadside assistance as an add-on ensures that you receive timely help in case of breakdowns or emergencies. This can include services like towing, fuel delivery, and assistance with flat tyres, providing an extra layer of security during your journeys.
• Personal Accident Cover for Pillion Riders: In India, not only the riders but often their family members or friends also travel on the same two-wheeler. In such cases, ensuring their safety becomes as important as yours. ACKO's Personal Accident Cover for Pillion Riders is designed to offer compensation in case of any bodily injuries, permanent disabilities or death of the pillion rider during an accident.
• Zero depreciation cover: This insurance add-on provides full coverage for vehicle repairs without factoring in depreciation. It ensures that the policyholder receives the entire cost of repairs, including the depreciated value of replaced parts, resulting in minimal out-of-pocket expenses after an accident.
• NCB Protect: With this add-on cover, you can maintain your accumulated NCB even after making a claim during the policy term. It ensures that your cautious driving efforts are rewarded consistently with hefty discounts on premiums at renewals.

Add-on covers like these enhance the value and efficacy of your motor insurance policy. They ensure that beyond meeting regulatory requirements, your insurance policy can offer a comprehensive financial safety net tailored to your specific needs. Remember, each rider and each bike is unique, and your insurance should reflect that.

Conclusion

Insurance safeguards you from the legal implications of causing damage to third-party individuals or properties. However, to ensure comprehensive protection for your own vehicle against various risks such as man-made calamities, vandalism, fire and natural disasters, we advocate considering a comprehensive two-wheeler insurance policy. With this comes the option to boost coverage through valuable add-ons like Zero Depreciation Cover and Personal Accident Cover. 

ACKO makes this journey easier for vehicle owners in India. ACKO's simplified, transparent processes offer a quick online purchase and renewal system that ensures you never miss out on continuity of coverage or those No Claim Bonus benefits. 

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