A comprehensive bike insurance policy gives the maximum financial coverage if an insured vehicle gets involved in accidents causing damages. It encompasses reimbursements to compensate financial losses caused to third party properties and people and even insured individuals' vehicles. However, it excludes the treatment expenses of policyholders if they get an injury during those accidents.
So, individuals, who want to get comprehensive coverage for their injury after an accident, can extend their two-wheeler insurance policy coverage by availing of an add-on personal accident cover.
Here are all the benefits individuals can obtain by purchasing this personal accident cover policy along with their two-wheeler insurance plan:
After knowing the benefits of personal accident insurance, one should learn about this policy's financial coverage.
Policy owners can get the below-mentioned coverage by availing of this personal accident insurance policy:
Here are the reasons why individuals should extend the coverage of their two-wheeler insurance with this personal accident cover add-on:
However, individuals need to check this add-on motorcycle insurance brochure before purchasing it carefully. It can help them understand its exact total insured sum, premium amounts, and inclusion/exclusion criteria.
Now that you are aware of the benefits, coverage and importance of personal accident insurance, you must know the claiming procedures of this add-on motor insurance policy.
Individuals can file a claim for the benefits of personal accident cover under their two-wheeler insurance policy in the following ways:
Step 1: Inform the insurance providers about the incidents thoroughly, mentioning the extent of the injury
Step 2: Visit the nearby police station to file an FIR and take the number and a copy of this paper and keep it handy to submit it to the insurance provider
Step 3: Ask for a claim form from the insurer and fill it with all the required details. After this, submit the form.
Step 4: Submit all the documents as asked by the insurer
Upon completing these steps, individuals will successfully file the claim for personal accident coverage.
Moreover, individuals can initiate an online two-wheeler insurance claim by submitting the necessary papers and filling out the form.
Individuals can purchase comprehensive or third party bike insurance online from Bajaj Finance. Individuals can find an ideal policy according to their requirements at an affordable premium.
In conclusion, the additional personal accident cover along with a two-wheeler insurance policy gives comprehensive financial protection to individuals. It helps individuals get emergency funds to bear the treatment expenses without affecting hard-earned savings.
With each passing year, where other insurance premiums tend to rise, car and bike insurance have a beneficial NCB, bringing down premium amounts.
No Claim Bonus is simply a perk given to policyholders for not making a claim in previous years. NCB in motor insurance can fetch up to a 20-50% discount on the payable premium amount by maintaining a claim-free record. NCB is not related to the make or age of the vehicle but solely on the claim record of the policyholder.
While purchasing a comprehensive motor insurance policy, you are generally not eligible for NCB unless in the case of NCB transfer. The policyholder will be eligible for NCB on the first renewal of the motor insurance policy, starting from 20%. This is applicable only if no claims have been made in the preceding years. The discount increases with every claim-free year up to a maximum of 50% at the end of five claim-free years.
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