Two-wheelers are undoubtedly the most preferred vehicles when it comes to commuting in India. This is because bike riders can simply zip through the traffic and do not have to be stuck for long hours. However, about 1214 road accidents take place every day in India. This is why having a bike insurance policy is so important.
Now, while it is mandatory to have at least third party insurance, it is advisable to opt for comprehensive plans to stay protected in a better way. The good news is that, these days, you can easily buy two-wheeler insurance online. On the other side, there are so many myths doing the rounds too!
Today, we look at a list of some of the most common myths about a two-wheeler insurance policy and reveal the truth for you:
- Buying two-wheeler insurance is a tiresome process
While this might have been true many years ago, it certainly isn’t the case anymore. Today, you do not even have to leave your house to get your bike insurance policy. All you need to do is visit an insurer’s website, compare their policies, pick one, and complete your payment. Once you make the payment, the policy documents will be sent to you over mail.
- The NCB is not transferrable if the insurer is changed
This is one of the most common myths about a bike insurance policy. Many policyholders think that they will not be able to renew two-wheeler insurance and retain their NCB bonus if they choose to go with a different insurer. This is not true at all. You should know that the NCB will get transferred to the bike insurance policy you buy from the new insurer.
- The pillion rider is covered under a basic bike insurance policy
It is important to know that neither the bike insurance policy nor your personal accident insurance policy covers the pillion rider. However, this does not mean that you cannot get coverage for the pillion rider. If you have opted for a comprehensive bike insurance policy, you can include a pillion rider add-on to the policy.
- Comprehensive bike insurance provides coverage for an accident in any circumstance
To understand this, you need to be aware of the exclusions of comprehensive bike insurance policies. If you have such a policy, you will not receive coverage if you were riding without a driving license at the time of the accident, or if you were riding under the influence of alcohol. In addition, your insurance policy will not cover you once you are out of the geographical boundary mentioned in the policy.
- The premium for a bike insurance policy depends upon the policyholder’s credit score
Your credit score is taken into consideration by financial institutions when you are looking to apply for a loan. However, insurance companies do not consider your credit history. They base your premium on factors such as the engine capacity of your bike, its model, the year it was manufactured in, and so on.
Therefore, if you have believed any of the above-mentioned myths, you now have the correct information. We hope that this article has been useful to you. All the best!