By 
Most two-wheelers, whether scooters or bikes, serve to be affordable and quick means of transportation in India. To minimize any hiccups, two-wheeler owners take all the necessary steps to keep their vehicles well-maintained with the help of regular check-ups and timely repairs.
In our country, it is obligatory by law to have your two-wheeler insured; especially in terms of protection for third party liabilities. By purchasing online two wheeler insurance, you will be able to gain protection against third party liabilities, damages or complete loss of your insured vehicle, as well as personal accident cover for yourself.
Table of Contents
NCB in Online Two Wheeler Insurance
No Claims Bonus (NCB) refers to the discount availed against the premium payment for bike insurance in case you refrain to make any claims during the entire period of your two wheeler insurance policy. Applicable for all online two wheeler insurance comprehensive plans, NCB cannot be availed through simple third-party policies.
Here are some essential pointers about NCB that you should know before purchasing your bike insurance online.
1. Gift on Renewal
NCB acts like a gift from your insurance provider when you do not stake any compensation claim in the last 1 year (or 3 consecutive years as per the policy tenure). It can be claimed if you do not fail to renew your online two wheeler insurance policy regularly, and at least in a span of 90 days before the expiry of your previous policy.
2. Not available on third party cover
No Claim Bonus can be availed on the personal damage component of the premium amount of your bike insurance. Third party online two wheeler insurance plans are bereft of this benefit.
3. Increase in NCB Every Year
The proportion of No Claim Bonus on bike insurance increases each year. Say, it rises from 20% post the 1st year of insurance that goes without any claim to about 25% by the culmination of the 2nd claim-free year. The discount amount would increase to 35% after the 3rd year to up to 50% by the time 5 claim-free years are over.
4. Easy transfer of NCB
It is possible to transfer the NCB from an existing vehicle to another. You may also go for a different insurance provider for online two wheeler insurance while keeping the accrued NCB intact. However, to avail this feature, you need to get an NCB certificate from the first insurer; the same can be claimed when you decide to purchase your insurance plan online.
5. Maintain your NCB
In order to ensure proper maintenance of NCB on your online bike insurance plan, it is essential that you deter from making claims for minor damages; especially those that do not necessitate heavy expenses. Just a simple or single claim can bring down the NCB amount to zero, resultantly, you will not receive any premium discounts when you renew your bike insurance the next year.
Quick Registration in Online Two Wheeler Insurance
Do you believe that your purchase of online two wheeler insurance is a long-drawn, cumbersome task? Not at all. Just a few clicks of your mouse or swipes of your fingers can fetch you the two-wheeler insurance you need. You may want to explore the available options and types of bike insurance plans available online on insurance comparison and aggregator portals like Coverfox.com. Once you have decided upon the premium amount, scope and tenure of the policy, add-ons, and other features, so as to get maximum coverage at the lowest costs, go ahead and fill the application form with the necessary details.
These details would include the age of the vehicle, manufacturer name, vehicle model, city of registration, showroom price, engine and chassis number, and the cubic capacity your two-wheeler; policy details like start and end date of your policy; personal details like your name, age, gender, etc.; contact details like your phone number, address, email ID, etc. Once all the details are filed in correctly, click on the ‘pay’ option to get the two-wheeler insurance you need.
Compare and Buy Online Two Wheeler Insurance
Log on to Coverfox.com to assess and compare the bike insurance plans that caters to your coverage requirements and premium budget to the hilt. As it is mandatory to buy two wheeler insurance as per the Motor Vehicle’s Act, 1961, go about the act at the earliest – it’s important!
Comments