Overview
India has a diverse infrastructure, with roads of various lengths and widths. Four-wheelers are unable to take the turns that two-wheelers do. As a result, there is an ever-increasing demand. Given that two-wheelers are one of the primary modes of commuting in the country, an increase in the purchase could directly affect an increase in bike insurance online and subsequent renewal. Unfortunately, this is not the case, and many people fail to renew their bike insurance online.
This is after realizing that two-wheelers are more likely to be involved in collisions than other heavy vehicles on the road because they are lighter and faster. In addition, two-wheelers are more likely to be stolen. Overall, bike insurance online renewal is something that should not be overlooked.
Here are a few of the many explanations for this:
- Protection Against Accidents
Lack of bike insurance leaves you vulnerable and exposed to vehicle robberies, as well as unprotected in the event of an accident. Road incidents not only result in the loss of lives, but they also have a major effect on the country’s socioeconomic situation. Thefts, collisions, natural calamities, man-made disasters, and third-party risks are all covered by good bike insurances such as on Finserv MARKETS.
- Abiding By The Rules
Regardless of whether your vehicle is a two-wheeler or not, the new set of traffic laws requires you to have insurance. If you own a two-wheeler and use it on the lane, you must have third-party insurance coverage under the Motor Vehicles Act of 2019. The bike insurance policies on Finserv MARKETS ensures that any third party injured as a result of your two-wheeler is covered. A third-party bike insurance policy gives the two-wheeler owner even more courage to take the vehicle out on the road without hesitation or fear. As a result, the driving experience is often pleasant and free of anxiety.
- Protection Against Theft
Your two-wheeler is covered as well as shielded by insurance. It safeguards the vehicle from theft and accidents by providing adequate compensation. As a result, bike insurance is a must and you can use a bike insurance calculator on Finserv MARKETS to ease the process of renewal.
Why Do People Refuse To Buy Bike Insurance Online?
The main reason is the lengthy and inconvenient process as well as the perception of it. People frequently have a clumsy understanding of the whole insurance process, including purchase, renewal, and even claims.
Wrapping Up
It’s time to take the initiative to insure your two-wheeler. If you’ve already done so, make sure you renew your insurance policy on time. These are unpredictably chaotic times. You would be more prepared to face the future if you have better security. Insurance renewal ensures that your two-wheeler is protected from any potential threats. With you in charge, the vehicle that transports you along life’s rugged roads should be stable enough. Finserv MARKETS will be there to hold your hand and lead you through the process.
