Simplify Two-Wheeler Insurance with Quickinsure: Compare and Buy Today!
Added: (Mon Oct 30 2023)
Pressbox (Press Release) -
Today we have many insurance plans and one of them is a two-wheeler insurance plan. It can protect you from not only unforeseen risks but also help you avoid any financial losses on the road while riding a two-wheeler. Its main objective is to protect you and your loved ones from suffering heavy financial losses in case of any unfortunate circumstances.
How does two-wheeler insurance work?
The two-wheeler insurance provides financial coverage against any damage or losses you have incurred due to any unfortunate accident on the road. By having a comprehensive two-wheeler insurance policy, you can also get coverage against physical damage and death benefits.
Two-wheeler insurance cost and coverage:
The cost of two-wheeler insurance is decided by several factors such as the age of the vehicle, engine capacity, current IDV value, additional modification done, additional add-on coverage, and discounts. All these factors are considered and estimated by the insurance provider before providing a premium amount to the customer whether it be on a monthly, semi-annual, or annual basis.
The two-wheeler insurance coverage lasts for the term till which you have insured your vehicle, usually semi-annually or annually. As soon as you make your premium payment the insurance policy is activated. The coverage can also be extended to your family for them to receive any benefits in case of any accidental death based on your requirements.
Two-wheeler Insurance grace period:
If the policyholder forgets to renew their two-wheeler insurance policy on time, the insurance provider will still provide them with a grace period in which they can simply pay the premium amount and reactivate their coverage benefits. Always make sure to renew your policy on time to avoid losing protection and financial benefits.
Two-wheeler Insurance policy term end:
Usually, the two-wheeler insurance policy is taken semi-annually to annually. In case the insurance policy term ends, the policyholder will stop receiving benefits. They are still provided with some grace period to renew the policy to avoid policy lapses and continue to enjoy coverage for themselves on the road.
The term end of insurance depends upon the type of insurance that the policyholder has taken and for what period.
Can you Renew, Convert, and Terminate two-wheeler insurance?
● Renew:
The policyholders are allowed to renew their insurance policy 1-2 weeks before or on the insurance premium due date. Insurance providers may also provide grace periods for renewing after the policy due date has passed.
● Convert:
Two-wheeler insurance policies can easily be converted or upgraded with additional add-on covers that can help provide better coverage for your vehicle as per your requirements.
● Terminate:
The two-wheeler insurance policy will automatically lapse or terminate at the end of the grace period if the policyholder fails to pay the premium charges.
Two-wheeler insurance cancellation and its effects:
The insurance beneficiary may give up their two-wheeler insurance policy if they are unsatisfied with the coverage or are unable to maintain it due to any personal circumstances. Two-wheeler insurance providers may refund the difference in premium amount by estimating the remaining insurance term. Always make sure to read and check insurance policy documents for any refund clause in case of early cancellation to avoid financial losses.
Conclusion:
Always make sure to do your research and due diligence before getting two-wheeler insurance. Quickinsure allows you to do just that and lets you decide your insurance policy as per your needs.
Now, remain protected by getting the best affordable insurance policy by comparing and buying faster, easier, and transparently with Quickinsure.
About Quickinsure:
At Quickinsure, our mission is to simplify the process of buying two-wheeler insurance. When you choose us, you get more than just protection. We provide guaranteed best prices, offer unbiased advice for your benefit, ensure 100% reliability by operating under the regulatory purview of IRDAI, and deliver complete claim support. With Quickinsure, you're not just securing insurance; you're gaining a trusted partner in your journey.