Bajaj Allianz bets big on two wheeler package policy

Bajaj Allianz General Insurance is eyeing for 30 per cent of its total two-wheeler insurance sales through long-term package policy by the end of this fiscal.

The private sector non-life insurer has already sold 6,000 such policies so far in 2016-17.

Two-wheelers can be insured for up to three consecutive years under this policy which was introduced at the beginning of the current fiscal.

"We have already sold 6,000 policies under the long-term two-wheeler package policy which was kicked off on April 1. We are looking at 30 per cent of our total two-wheeler insurance sales to happen through this policy by the fiscal-end," Bajaj Allianz General Managing Director and Chief Executive Tapan Singhel said today.

The company will use the telematics-based offering to reward customers showcasing good driving behaviour. The facility comes with 12 value-added features, providing not only safety and security to customers, but also savings and convenience, he told reporters on the sidelines of launch of the company's new offering called 'Drive Smart'.

The three-year long-term package for two-wheelers is currently available at an average annual premium of Rs 3,000.

"To achieve 30 per cent of the total two wheeler insurance sales by the fiscal-end through this route, we are banking on online sales which are currently responsible for 7-8 per cent of total two-wheeler sales," he said.

The company is quite bullish on this segment as more than 75 per cent of the two-wheelers in the country are not covered at present.

Of the total premium of Rs 5,900 crore achieved by the company during financial year 2015-16, 57 per cent was contributed by motor insurance alone, he said.

"Our market share under the motor insurance segment was currently at 11 per cent in terms of premium," the MD said.

On car insurance, he said a total of 21 lakh private cars were provided insurance cover by the company at an average premium size of Rs 7,000 in the fiscal gone by.

Talking about claims settled by the company during the last fiscal, he said "we settled a total of 6 lakh claims amounting to Rs 2,500 crore."

There Are CeThere Are Certain Things You Should Know About 2 Wheeler Insurance Claimsrtain Things You Should Know About 2 Wheeler Insurance Claims

Buying a vehicle of your choice is an inexpressible experience. However, as you buy your dream car or bike, it's also important that you ensure its safety and protection. This is why you should have coverage in place to ensure that you don't have to face any financial hardships, if there is any unfortunate mishap.

Remember, if you have a good insurance policy, then, it can compensate you for the loss against accidents and thefts, which can happen any time without any warning. However, it's important that you look for various options and compare the quotes before you make a decision. Also, if you buy a policy from a reputed and dependable company, your 2 wheeler insurance claim will be settled timely without any hassles. The entire process will be very simple. After the accident or mishap, you will have to take your bike or scooter to the allowed mechanic and depending on his estimation, the company will reimburse you.

In case, your bike or scooter has been stolen, then it's a requisite that you file a police complaint, only then, the insurance company can start the procedure. Once the company verifies that there is no fake action involved, the claim cheque is handed over to the owner. Also, your policy will continue after the mishap or accident. However, in certain cases, some companies charge more for renewal taking into consideration the additional danger of accident with owner. Along with all this, there are certain points that will help you sail through the entire procedure smoothly!

• The damage, loss or the theft should be reported to the insures immediately; also to the police, if required

• Receive the claim form from the insurer after providing him with the relevant information

• Fill and submit the completed form together with an approximation of the loss to the insurer

• After this, the company will organize an inspection of the damaged items to evaluate the loss. Sometimes, if the losses are too grave, then, a professional licensed surveyor is appointed

• You have to supply the obligatory documents to verify the amount of loss

• If you are not able to establish the reason of loss, then, you have to establish that the loss or damage has occurred due to a covered hazard

• After all this, the claim is settled after you and your company agree on an amount

Keep all these factors in mind, buy the policy form a good company and you will never have issues settling the 2 wheeler insurance claim.

Source: [http://bit.ly/2gSX4mj]

Everything You Wanted To Know About Your Two Wheeler Insurance!

This insurance provides protection against natural and man-made calamities like: fire, rockslide, landslide, storm, hurricane, flood, earthquake, burglary, theft, riots or any damage caused to the vehicle in transit by road, air, inland waterway or rail.

For most of us, bikes or scooters may be the first vehicle we have owned in our life. As important it is to have them, equally important is to protect them from all the hazards of the roads. Thus, it's important to have coverage with a Two wheeler insurance policy that covers the vehicle against natural and man-made mishaps like: fire, tremor, tempest, flood, earthquake, burglary, theft, riots or any damage caused to the vehicle in transportation by road, air, inland waterway or rail.

Now you don't have to get in touch with agents to get a Two wheeler insurance policy. You can get it online in a more convenient way. Online purchasing of these policies is both cost-effective and time saving. However, before you buy the policy, whether online or offline, it's important that you have some basic information about the cover. The first thing to know is that a two wheeler cover comes in two choices; comprehensive & third party. Third party is compulsory by the law, which covers only liabilities for injury, demise or damage of third party's property during the incident.

Did you know that your all-inclusive protection policy also covers third-party liability?

Two wheeler insurance provides mandatory personal accident cover of Rs. 2 lakh to the insurer/owner driver, this accident cover can also be opted for pillion rider. It also protects against legal liabilities arising due to third party injury/death or damage caused to its property.

With this cover, your policy bears all the losses done to a third person in the event of everlasting injury or death caused by your bike or scooter. Not only this, the cover is also extended to harm caused to the assets or belongings of another person by your covered vehicle. This cover can be of great help in protecting your savings by way of paying compensation to the injured third party. This type of coverage also offers a breather in case of lawful accountability taking place from accidents or property harm and eases you off the worries of legal measures.

There are also chances that you, i.e., the rider or the owner, can also endure an accident or any similar mishap which may cause damage or injury. In such case, the cover is of great help. It offers an amount in case there is disability or passing away of the driver or owner. The personal accident insurance is a default advantage on hand as a part of the tariff of the comprehensive 2 wheeler cover and does not need the payment of any additional premium. One of the most imperative aspects of two wheeler insurance, which you should be aware of, is the own damage (OD) premium, which you pay to the company for coverage above the third-party cover. The expense of this premium permits you to claim recompense in case of damages to your own insured vehicle, lest natural calamities.

Remember your bike or scooter coverage not only gives you a defense against unforeseen things, but also lessens your economic load cropped up during accident and gives you the peace of mind. After all, your two wheelers are about freedom, the Two wheeler insurance policy has been planned to set you free from worries!

Source: [http://planet.infowars.com/business/everything-you-wanted-to-know-about-your-two-wheeler-insurance]

Bajaj Allianz bets big on 2 wheeler package policy

 Bajaj Allianz General Insurance is eyeing for 30 per cent of its total two-wheeler insurance sales through long-term package policy by the end of this fiscal.

The private sector non-life insurer has already sold 6,000 such policies so far in 2016-17.

Two-wheelers can be insured for up to three consecutive years under this policy which was introduced at the beginning of the current fiscal.

"We have already sold 6,000 policies under the long-term two-wheeler package policy which was kicked off on April 1. We are looking at 30 per cent of our total two-wheeler insurance sales to happen through this policy by the fiscal-end," Bajaj Allianz General Managing Director and Chief Executive Tapan Singhel said today.

The company will use the telematics-based offering to reward customers showcasing good driving behaviour. The facility comes with 12 value-added features, providing not only safety and security to customers, but also savings and convenience, he told reporters on the sidelines of launch of the company's new offering called 'Drive Smart'.

The three-year long-term package for two-wheelers is currently available at an average annual premium of Rs 3,000.

"To achieve 30 per cent of the total 2 wheeler insurance sales by the fiscal-end through this route, we are banking on online sales which are currently responsible for 7-8 per cent of total two-wheeler sales," he said.

The company is quite bullish on this segment as more than 75 per cent of the two-wheelers in the country are not covered at present.

Of the total premium of Rs 5,900 crore achieved by the company during financial year 2015-16, 57 per cent was contributed by motor insurance alone, he said.

"Our market share under the motor insurance segment was currently at 11 per cent in terms of premium," the MD said.

On car insurance, he said a total of 21 lakh private cars were provided insurance cover by the company at an average premium size of Rs 7,000 in the fiscal gone by.

Talking about claims settled by the company during the last fiscal, he said "we settled a total of 6 lakh claims amounting to Rs 2,500 crore."

Why To Go For 2 Wheeler Insurance

The need and utility of two wheelers will never change, no matter which decade or era we are living in. Buying a two wheeler is a sensible and economic decision and there is no need to mention that it is one of the easiest ways to beat the traffic congestion that we face daily on our city streets.

If you are purchasing a two wheeler for yourself, then you must not forget to buy a two wheeler insurance policy as its mandatory to have it under the Motor Insurance Act. You can purchase two wheeler insurance for your motorcycle, bike, scooter, etc. It offers wide coverage that helps you in driving securely.

Features & Benefits:

The question that arises is why to buy it? Below is the list of features and benefits that may help you in deciding.

Stress-free inspection & cashless claim service

Offer coverage on partial or total loss to your vehicle that occurs because of an accident or theft.

Provide coverage on third party damage and third party bodily injury.

You may get attractive discounts on renewal (NCB) for a claimless year.

Predefined reduction for the parts that requires replacement.

Vehicle transport to the nearest garage in case of major breakdown.

Lost key assistance

Add on coverage as well

Need of Insurance:

It offers financial coverage for any type of damages or loss that occurs because of natural calamities such as fire, flood, etc.

Coverage against man-made calamities as well that includes theft or accident by external means etc.

The third party legal liability offers coverage against issues arising out of injury/death or property damage to the third party by your vehicle.

Before purchasing two wheeler insurance for your bike, scooty, scooter or any other two wheelers, it is essential to know the basic terminology of the same.

Premium:

The premium you paid for insurance depends upon several factors such as city where the vehicle got registered, model, age of vehicle, year of manufacture, etc. Premium is decided and regulated by IRDA hence there is not much difference across several companies.

Coverage:

It is the financial protection that the insurer offers to you and your two wheeler against any damage and loss caused due to any natural and/or man made calamity. Coverage depends upon the insurer and the plan chosen. That's why it is advisable to buy two wheeler insurance online after comparison.

Exclusions:

While purchasing the best two wheeler insurance, you must check its exclusions as it will tell you about situations where the insurer will not be able to offer coverage and required assistance.

Some exclusions will be- normal wear and tear, damage due to drunken driving, driving without license, damage caused by war or nuclear explosions, etc.

Claims:

After purchasing the best two wheeler insurance online, you are entitled to get the claim for the damages. It is advisable to not file for any small claim as it will reduce the chances of getting NCB discounts at the time of renewal.

It is advisable to read all the terms and conditions in detail before purchasing an insurance policy. Select your policy wisely making sure it suits your requirements.

2 wheeler insurance is an IRDA approved online insurance comparison portal helping consumers compare, choose and buy policies. We provide health, motor, life, travel & corporate insurances from a wide range of insurers. Get online comparison of insurance policies at cheapest price in India.

Source:  [http://ezinearticles.com/?Why-To-Go-For-Two-Wheeler-Insurance&id=9323663]

How to Get online 2 wheeler insurance

With a little effort on your part, online two wheeler insurance is possible to come by. There are a few things you need to consider prior to even beginning to obtain two wheeler insurance quotes

Consider your age and driving record. Any prior accidents that are on your current record will count against you even though you are after two wheeler insurance. Insurance rates will also be higher if you haven't had two wheeler insurance before. Once you've become a more experienced rider and keep your record clean, your rates will begin to decrease over time.

Think about the kind of motorcycle you have. Faster two wheeler or sport bikes are going to be more costly when it comes to insurance, as will new models. The more basic, older models will be cheaper to insure.

Determine how close you live to your employer and whether you live in a high crime area. If you can keep the mileage down, you could receive extra discounts on your two wheeler insurance policy. If you live or work in a high crime area, your rates could be increased.

Do not over insure. If something were to happen to the bike, you're only going to get the market value, so there's no need to pay extra insurance to have coverage that is unnecessary.

Keep your motorcycle garaged. You may receive an extra discount with some companies if the motorcycle is kept in a garage at night or when parked.

Shop around for the cheapest 2 wheeler insurance. Contact the big companies as well as smaller, local companies. Even though the big companies offer free quotes online that are easy to access, they may not have the best prices and you could end up paying more than you need to for two wheeler insurance. Pick up the phone or visit local insurance companies to get a two wheeler insurance quote.

Source: http://www.ehow.com/how_5104818_cheap-motorcycle-insurance.html

Everything You Wanted To Know About Your 2 Wheeler Insurance!

This insurance provides protection against natural and man-made calamities like: fire, rockslide, landslide, storm, hurricane, flood, earthquake, burglary, theft, riots or any damage caused to the vehicle in transit by road, air, inland waterway or rail.

For most of us, bikes or scooters may be the first vehicle we have owned in our life.

As important it is to have them, equally important is to protect them from all the hazards of the roads. Thus, it's important to have coverage with a 2 wheeler insurance policy that covers the vehicle against natural and man-made mishaps like: fire, tremor, tempest, flood, earthquake, burglary, theft, riots or any damage caused to the vehicle in transportation by road, air, inland waterway or rail.

Now you don't have to get in touch with agents to get a 2 wheeler insurance policy. You can get it online in a more convenient way. Online purchasing of these policies is both cost-effective and time saving. However, before you buy the policy, whether online or offline, it's important that you have some basic information about the cover. The first thing to know is that a two wheeler cover comes in two choices; comprehensive & third party. Third party is compulsory by the law, which covers only liabilities for injury, demise or damage of third party's property during the incident.

Did you know that your all-inclusive protection policy also covers third-party liability?

2 wheeler insurance provides mandatory personal accident cover of Rs. 2 lakh to the insurer/owner driver, this accident cover can also be opted for pillion rider. It also protects against legal liabilities arising due to third party injury/death or damage caused to its property.

With this cover, your policy bears all the losses done to a third person in the event of everlasting injury or death caused by your bike or scooter. Not only this, the cover is also extended to harm caused to the assets or belongings of another person by your covered vehicle. This cover can be of great help in protecting your savings by way of paying compensation to the injured third party. This type of coverage also offers a breather in case of lawful accountability taking place from accidents or property harm and eases you off the worries of legal measures.

There are also chances that you, i.e., the rider or the owner, can also endure an accident or any similar mishap which may cause damage or injury. In such case, the cover is of great help. It offers an amount in case there is disability or passing away of the driver or owner. The personal accident insurance is a default advantage on hand as a part of the tariff of the comprehensive 2 wheeler cover and does not need the payment of any additional premium. One of the most imperative aspects of 2 wheeler insurance, which you should be aware of, is the own damage (OD) premium, which you pay to the company for coverage above the third-party cover. The expense of this premium permits you to claim recompense in case of damages to your own insured vehicle, lest natural calamities.

Remember your bike or scooter coverage not only gives you a defense against unforeseen things, but also lessens your economic load cropped up during accident and gives you the peace of mind. After all, your two wheelers are about freedom, the 2 wheeler insurance policy has been planned to set you free from worries!

Source: http://planet.infowars.com/business/everything-you-wanted-to-know-about-your-two-wheeler-insurance

Valuable Tips to Buy Used Motorcycles at Affordable Prices with 2 Wheeler Insurance

Buying a second hand motorcycle takes a little more effort than the new one, wherein you can just walk into any showroom and pick it up. Whether you are looking an addition to your collection or your first motorbike, there are a few things that you need to consider.

Here Are A Few Tips To Help You Buy A Perfect 2 Wheeler Insurance:

Type of bike: There are innumerable kinds of motorbikes available for you to choose from. All bikes wear out differently. For example, sports bikes are more prone to get damaged than the regular touring ones. Hence, buy a bike that can be in good condition for years to comes, if you are going to use it on a daily basis.

Select your vendor: Whether you are buying your 2 Wheeler Insurance or from a nearby automobile showroom, it is suggested that you research well before finalizing a vendor.

Queries: If you are buying from a local dealership, then make sure you ask the right questions to clear your doubts. Buying straight from the owner of a bike is more profitable, and negotiation will be quite simple. Maintain a list: Jot down the number of bikes you have seen and their features that interest you, along with their prices. This will help you choose the one that suits your needs and fit in your budget.

Check its condition: Before finalising a deal, thorough check the working condition of the bike you are willing to invest on. Take an experienced mechanic with you for a test ride.

Buying used heavy cruiser motorcycle becomes simple when you have complete information about its working condition and service history. Although it is always better to buy a motorbike from its owner, but there are chances of you being sold a stolen one. Therefore, it is suggested that you find out as much information as you can about the vehicle on sale.

It is recommended that you check and verify the ownership and insurance documents. Never ever buy any vehicle that is not insured. Other than this, make sure that its title is clear and mileage matches with what is mention on the paperwork.

Article Source: http://2-wheeler-insurance.weebly.com/home/valuable-tips-to-buy-used-motorcycles-at-affordable-prices-with-2-wheeler-insurance

Reduce the Cost of Your Two Wheeler Insurance

The cost of bike insurance is largely due to statistics. Knowing the different factors that affect how much you pay for your insurance premium can help you save money when renewing or taking out a new policy.

Many factors can play a role in determining your Two Wheeler Insurance costs. The elements that affect how much you pay for your premium can include: type and style of bike, age and sex of the rider, bike security and bike mileage - to name but a few.

Two Wheeler Insurance providers take into account the potential for theft or damage to your bike. If you show evidence that you can protect your bike from getting stolen or damaged then you can lower the cost of your insurance. Therefore, consider where you store your bike - it's best to keep your motorcycle in a locked garage at night. Also, ensure your bike is secure with an approved security device.

Speeding convictions can lead to higher Two Wheeler Insurance costs. Insurance savings can be gained by maintaining a good driving record and avoiding any points on your license. By driving safely and cautiously you can not only maintain the condition of your bike, but also benefit from a no claims bonus when renewing your bike insurance.

If you are an experienced or older rider then it is possible to achieve discounts on your insurance. Statistics show that older bike owners tend to make fewer claims, whilst younger bike owners are a higher risk for accidents. However, young riders don't just need to wait for nature to take its course. Riders that have passed their Compulsory Basic Training (CBT) can see a reduction in insurance premiums if they achieve a full license. Further discounts may be achieved with some bike insurers if the rider passes the Institute of Advanced Motoring's Advanced Motorcycling Test.

Bear in mind that more powerful bikes and older bikes pose a higher risk to insurers. The type, make, style and age of the bike you own will all have an impact on the cost of your premiums and should be taken into consideration prior to purchase. The older the bike and more miles it has driven will lead to wear and tear making it more likely to break down. Likewise, high mileage each year on a newer bike can also lead to maintenance problems.

The cost of Two Wheeler Insurance premiums can vary widely among insurance providers. You can find great deals on bike insurance by shopping around but it's more important to compare policies with the type of cover that best suits your needs.

Article Source: http://blogs.rediff.com/2wheelerinsuranceinindia/2016/07/27/two-wheeler-insurance/

Tips on Having Bike Insurance

Insurance companies play of covering any type of tragedy that can possibly occur. It may be by natural disaster of an accident; no matter the case having insurance is very important. Often times you hear or people getting into car accidents and are in debt because their insurance does not cover it or they have failed to pay their insurance. Yes, people often times neglect their insurance and only realize it when it is too late. There are various types of insurances such as, vehicle insurance which covers all types of vehicles that can be used as transport such as a bike.

For your bike insurance there are also certain restrictions which will apply for persons who deliberately engage themselves in dangerous behaviour with their bikes. For example if you use your bike to race, you will find it difficult to find an insurance policy that will cater to your lifestyle especially since you are more prone to an accident occurring. However, if you own a bike just for the enjoyment of riding it, you will need to obtain a personal disability insurance policy which will protect your income as discussed earlier in the event you become disabled.

Of course if you have some bad riding habits it is best to rectify them before actually going to your insurance, that way your record looks good which will also help with the price you will be charged. At the end of the day the most important thing is to have you and your bike covered for any possible damages that may occur. It is also common to see people not take this serious but by law you must insurance for a vehicle that you are using. You can also do other things which would affect your rates and coverage, like obeying the laws of the road, the speed limit and other riding ethic. You can also properly protect yourself and your bike both on and off the road. Yes, accidents do happen off the road as well, whether it is vandalism, theft or even an accident without you even being present, such as a hit and run.

Insurance companies review a number of factors to determine bike insurance costs. The various factors relate to the type of bike you have purchased and the years of experience that you have with bikes in general. In addition the insurance company will want to know the make and model of the bike which you have purchased. In this regards you will find that the more expensive the bike the more costly your motorcycle insurance costs will be. You should do your homework to make sure that you have the best coverage for your personal situation. Some of the coverage options available to you will be collision, major medical, and liability coverage. You will need to understand the reason that you bought your bike in the first place as this will also have an impact on your bike insurance costs.

Article Source: http://blogs.rediff.com/2wheelerinsuranceinindia/2016/07/21/bike-insurance/

Look For 2 wheeler insurance

Getting a 2 wheeler insurance mean machine and talking with the winds while you are riding on it is something that you have longed for a long time. And after your get to buy a motorcycle why waste time to enjoy it.

Riding a motorcycle has always been an exciting experience and bikes have been one of mankind's best inventions. But they are also high-risks in riding bikes so why not insure the machine and protect it from all odds.

Motorcycles are the most dangerous vehicles and riders are more vulnerable to accidents that car drivers. While buying a motorcycle it is very important to get a motorcycle insurance that would not only protect you but also your valuable bike

There are several 2 wheeler insurance companies ready to offer you different motorcycle insurance quotes. But it won't be a good idea to go for it at once without knowing about other options that are available in the market.

A good advice would be shop around for auto insurance companies and check out their motorcycle insurance quotes. By comparing the different auto insurance you can find out what are your needs whether those being offered match your needs and also your budget.

Despite all the shopping involved, getting a motorcycle insurance quote is not a tough task and the Internet is the best place to begin your initial search. There are many auto search engines specializing in such insurance policies and you would be getting a whole list of auto insurances at the click of a button.

The Internet has dismissed all conceptions that getting insurance is a cumbersome task. Getting auto insurance online not only saves time but also money. Since the market is getting competitive there are several discounts available on the Internet. Think twice before getting lured in such insurance policies that may cost you later.

So it is always better to take necessary steps to get the best motorcycle insurance quote, which would not only save you money but also, provide you with the best coverage. Try to bargain and you may also get a discount. But read the clause twice and if needed also consult your family lawyer to sort out all the legal intricacies for such auto insurances.

You should also avoid going through an agent, as they would not give you the best picture. So you are the best judge to understand all the points and find out if the auto insurance is perfect for you or not.

Article Source: http://2-wheeler-insurance.weebly.com/home/look-for-2-wheeler-insurance