The proportion of two-wheelers on Indian roads is too high. TVS Jupiter is a powerful performer in the 110cc engine gearless scooters range that are popular and suitable for India. It is credited for its sturdy built and safety features. Nevertheless, given the pervasive hazards, buying a two-wheeler insurance is not only a mindful decision but a compliance to a legal requirement under the Motor Vehicle Act. The insurance policy would cover damages demanded by third party in case of an accident. Interestingly, insurance policies also cover damage to personal vehicle and individuals, and damage due to natural or man-made adversities.
Buying two-wheeler insurance online is now easy and time saving. Let us have a look at the things you need to know before making the right decision.
Knowledge of the Vehicle
There are numerous factors that affect the policy’s cover and premium amount. Firstly, the price of the vehicle will have a major impact on calculation of the premium amount. This declaration of the value while renewing will be called Insured Declared Value (IDV) – market value of the vehicle deduced after deducting depreciation. Other factors like the regional taxation rules, cubic capacity (cc) of the vehicle, use of the vehicle et al. might play a deciding role in calculating the premium amount.
Information on the Policies Available
Insurance Policies these days, unlike in the old times, come with a comprehensive range of cover – covering damage to the rider-owner, to your own vehicle (Own Damage), impactdue to depreciation, et al. A wise person should opt for a policy that suits the needs and falls in the budget. Buying an unnecessarily expensive policy is of no use, whereas a very cheap insurance plan might not assist you with extensive coverage.
Plan your Policy Buying Period
Two-Wheeler Insurance Plans, usually, last only a year. Renewing plans can be a tiring process and therefore to avoid that hassle, one can look for a policy that is longer in duration. The added benefit of buying a long-term policy is that with fluctuating annual premium costs owing to the inflation rates, can be stabilized. Generally, a three-year plan is suitable for TVS Jupiter.
Get Information on Discounts and Benefits
Insurance Policy, when bought online, can get you heavy discounts if you make sure you are not compromising on the extensiveness of the coverage. More importantly, two-wheeler insurance policies come with a clause of No Claim Bonuses (NCBs). This clause says that if no claim is made during the policy period, the policy holder gets discount at the time of the next policy renewal.
Things Not Covered Under Insurance
Insurers make sure the business of insurance is transparent and honest and therefore add clauses that void the claim if any such peril is used for demanding Sum Assured. Driving without a valid license, or under the influence of toxic substance is strictly exempt under the policy.
TVS Jupiter Insurance can be easily viewed and analyzed online. You just need to remember these aspects that we discussed, while comparing insurance quotes.