Insurance

An Extensive Guide to National Bike Insurance Plan Coverage in India

There are very few people in India who are well aware of the importance of a two-wheeler insurance cover. Most of the vehicle owners buy insurance only because of the inclination imposed by the government.  However, everyone must know that there are many benefits and advantages of an insurance plan. A customer can choose among the various plans depending upon his own requirements. For a better understanding, suppose a person is buying a bike for his son so that he can easily commute to college. The suitable insurance in this case would be the comprehensive plan with add-on covers like consumable coverage, anti-theft, and so on. This is because young boys tend to ride bikes at high speed and daily usage of the vehicle would need regular servicing as well. Thus, it is important for every customer to identify their needs and choose the right insurance plan accordingly. The national bike insurance plan coverage comes with a range of benefits for the customers.

Why To Buy National Bike Insurance Plan Coverage?

Bike rides are risky and always dangerous given the worst conditions of roads and traffic in India. No matter how carefully one rides his bike, unforeseen accidents can occur even due to the fault of someone else. And if not accidents, natural calamities can also damage a bike in many possible ways. For instance, two days of heavy rainfall can flood the roads along with the engine of the vehicle that is parked on it. This is why it is important to take insurance coverage so that such accidents do not burn a hole in the pocket. Some of the reasons to buy the National bike insurance plan are:

  • It provides monetary compensation for damage caused by inevitable road accidents.
  • It can also be used for paying medical bills under its own damage component.
  • Coverage against natural calamities, theft, or loss of the vehicle is also available.
  • It offers an easy and efficient claim settlement option.
  • One can also avail roadside assistance cover to get immediate help if stranded on the road.
  • There are several add-on covers available for enhancing the base insurance policy.

What Are The Available Plans?

The National bike insurance plan coverage is divided into three categories:

Third-Party Insurance Coverage 

Having at least a third party insurance coverage is mandatory by law under the Motor Tariff Act, 2002. It is usually termed as the base insurance plan wherein the policyholder is covered against third party liabilities. This means, if the insured bike meets with an accident and damage is caused to any third party then the insurance company finances its expenses. It also compensates for the death of an individual in the worst cases. The minimum tenure of this insurance coverage is 5 years.

Comprehensive Insurance Coverage

This is the most sought after National bike insurance coverage. It covers the expenses of ‘own damage’ in addition to the third-party liabilities. Any damage caused to the vehicle due to natural or man-made calamities is paid off by the company. If opted, the National Insurance company pays upto INR 15 lakhs in case of personal accidents on the insured vehicle. The comprehensive insurance plan serves as the ideal coverage.

The Add-on Covers

The add-on covers are the plan that can be added to the above-mentioned insurance policies. These covers are exclusively designed to serve almost every customer’s needs. The customers, on their part, must make a rational decision while selecting any of these covers. If chosen wisely, these plans can prove to be the best investment for a policyholder. The most common add-on covers are Consumable covers, Zero Depreciation cover, and Return to Invoice cover.

Which Documents Are Required For Registration?

One can buy a National bike insurance plan coverage by providing some basic documents which include:

  • Identity Proof of the Applicant: PAN card, Adhar card, Driving License or Voter ID card are taken as the viable proof. Also, one must know that the documents of the vehicle owner are considered for application.
  • The registration number of the bike which can be found on its invoice.
  • The registration certificate of the vehicle must also be produced at the time of buying National bike insurance.
  • Address proof is also necessary for which any government identity card or Driving license can be used.
  • Lastly, a passport size photo of the applicant.

All these documents are needed to start the insurance registration process which takes a few working days depending upon the official terms of the company.

National Bike Insurance Coverage is easy to buy and much easier to claim. The process can be carried out through the online portal of the National Insurance Company. The firm has a strong goodwill and reputation in the market because of its 24×7 customer service. Every customer is treated equally and given the utmost attention. This is the reason that National two-wheeler insurance policies are always in demand in the Indian market.

A post by Kidal D. (4456 Posts)

Kidal D. is author at LeraBlog. The author's views are entirely their own and may not reflect the views and opinions of LeraBlog staff.

Leave a Comment

Your email address will not be published. Required fields are marked *

*