Bhubaneswar is the largest city and the capital of the state of Odisha. Known as one of the fastest-developing city, Bhubaneswar is the state's most popular hub for economic, education, cultural, tourism, and festival activities. The city is well connected to the neighboring cities, towns, and other states by the air, train, bus, and other modes of transport. Bhubaneswar's initiatives to improve road systems for pedestrian, motorists, and others have ranked the city in the list of top three cities concerning pedestrian infrastructure. Students, job seekers, artists, and others visit Bhubaneswar in order to fulfill their specific goals. The city has witnessed a sudden increase in the population and pollution levels as well. The increasing number or two-wheelers, four-wheelers, and related roads accidents are on the rise which makes it essential to consider insurance plans in order to secure your vehicle. A two-wheeler insurance policy is designed to provide financial coverage to the policyholder/vehicle's owner in case of damage caused by natural as well as manmade calamities. The repair cost for a two-wheeler can turn out to be expensive depending on the type of the damage.
An insurance policy can help you with coverage whenever needed so you don't have to burn a hole in your pocket. The premium paid for a two-wheeler insurance plan depends on many factors such as the make, model, and the type o of the vehicle. Compared to the four-wheeler and other vehicle's insurance premium amount, the insurance premium amount for two-wheeler is significantly lesser. Moreover, the entire process of obtaining, renewing, and claiming the benefit is simple, fast and efficient. By buying an insurance policy, the individual can be sure that the financial liability in the event of accident, theft, loss of the vehicle is reduced. Most insurers pay a good amount of cover for damages, etc. that can help the individual in living with confidence.
Types of Two-Wheeler Insurance Policies
Currently, an individual can choose to buy either the Third Party Two-wheeler Insurance Policy or a Comprehensive Two-wheeler Insurance Policy. The premium amount varies for each plan based on benefit factors.
- Third Party Two-wheeler Insurance Policy - As per the law, every motorist must carry a valid vehicle insurance policy to be road-legal. This policy provides basic protection against damage caused to your vehicle. This is the most inexpensive insurance policy that can be bought within few minutes.
- Comprehensive Two-wheeler Insurance Policy- This policy provides protection against damage caused by most natural and manmade calamities. Whether your two-wheeler is subject to theft, fire, explosion, earthquake, landslide, etc. the policy will protect the vehicle or the value of the value through the insurance policy term.
Buying A Two-Wheeler Insurance Policy
Considering the fact that most motorcycles and scooters are vulnerable to road accidents, it is important to secure the vehicle with an insurance plan for many types of benefits. If you want to avoid a situation where an accident can break your bank for the repair/restoration cost, an insurance policy can come to rescue. Apart from being a mandatory requirement, the insurance policy is essential for every motorist in order to reduce the financial liability.
Buying a two-wheeler insurance policy in India is very easy and doesn't require any verification process. The insurance coverage begins from the date of policy inception date after the payment of the premium and remains valid until the end of the policy term. Once an insurance policy is expired, the customer can choose to renew the policy.
In order to buy a two-wheeler insurance policy in Bhubaneswar, the following insurers can be considered:
- HDFC ERGO General Insurance Company Limited
- The Oriental Insurance Company Limited
- Iffco-Tokio General Insurance
- ICICI Lombard General Insurance Co. Ltd
- Reliance General Insurance Company Limited
- United India Insurance Co Ltd
- The New India Assurance co. Ltd
- Bajaj Allianz General Insurance Company
- Bharti AXA General Insurance Co. Ltd