Two Wheeler Insurance Policy in Mumbai

Mumbai, the city of dreams is the most populous city in India and stands fourth in the ranking list amongst the other most populous cities in the world. It is well known for a lot of things including Bollywood, Dabbawalla, Vada pav, and heavy rains. The city has multiple faces and is known as the entertainment, commercial and financial capital of India. Every year thousands of youth flock towards this city to realize their dreams into a reality. Therefore, the population of this city is skyrocketing and will continue to do so in the future as well.

Problems Faced By Bike Owners in Mumbai

Bike owners in Mumbai face the following problems:

Densely Populated City

With plenty of opportunities lined in the city, it’s ever-increasing population is a testimony of the amount of potential this city holds when it comes to job opportunities and higher earnings. Due to the movement of migrants towards Mumbai in large numbers, it leads to intrusion into the city while giving rise to illegal settlement even on the footpaths. This scenario gives birth to suffocated streets and blocked traffic movements.

Higher Living Standard and More Vehicles

Within the past 20 years, the share of road spaces by private vehicles in Mumbai has risen up from 55 percent to 77 percent. With the rise in the sale of bikes/two-wheelers due to the increase in purchasing power, the number of two-wheelers running on Mumbai roads have crossed over 18 lakhs. Due to an increase in the number of vehicles running on the road, there has been a consequent increase in the pollution level too.

Heavy Rains

Due to heavy rains in the monsoon season, Mumbai gets drowned in the water causing irreparable damage to the vehicles. After the rains, the majority of the vehicles get damaged and a few of them get stolen as well because of the parking problems. Moreover, the engine gets affected too because of the water seepage.

How to Choose the Best Two Wheeler Insurance Policy in Mumbai?

With a variety of two wheeler insurance policies offered by different insurance companies in Mumbai, you can select the best one by comparing different plans on various parameters. You can choose the optimum plan as per your own personal requirements and budget after inspecting each of the policies in detail. The different aspects you can rely upon while comparing different policies are:

Check Services Offered

Bike insurance companies differ greatly on the basis of services extended by them to the customer. You can compare and rank insurance companies on the basis of the strength of their cashless garages network, customer assistance services, ease of policy issuance and renewal, etc.

Check Claim Settlement Ratio

Claim Settlement Ratio refers to the percentage of claims settled by an insurance company out of the total claims received by it in a financial year. Higher the the claim settlement ratio, the better it is.

Compare Bike Insurance Plans Online

While buying an insurance policy for your bike, make sure you are comparing plans offered by different insurance companies online in order to make a sound decision. The policyholder often compares different bike insurance plans on parameters such as coverage, exclusion cost, inclusion cost etc.

Choose Right Premium Amount

It is one of the most important parameters that needs to be considered while choosing a bike insurance cover. It is the amount to be beared by you in order to avail the benefits of insurance cover. Apart from the premium amount, you should also consider the IDV and Policy coverage for your bike insurance.

Types of Bike Insurance in Mumbai

In respect of the coverage offered to the policyholder, bike insurance is of three types:

Third Party/Liability Only Policy

A third party bike insurance policy provides basic coverage to all the policyholders. It offers protection against losses caused to any third party property or any bodily injuries by your bike.

Standalone Own-Damage Policy

Own damage policy offers coverage to you against the losses caused to your own bike.

Comprehensive Bike Insurance Policy

Comprehensive bike insurance policy covers all kinds of damages caused to a third party and own damage. Own damage could include thefts, riots, natural calamities, or any terrorist activity, etc.

InsuranceDekho lets you compare and choose bike insurance policies from various insurance companies. A hassle-free and easy buying option gives you the freedom to select the best policy as per your requirements. Some of the facilities offered include:

Provides Transparent Buying Process

You are allowed to choose a policy that fits within your budget in a completely transparent process. We help our customers in selecting the optimum bike insurance policy for themselves by giving them knowledgeable guidance from our subject matter experts, who not only extend them valuable suggestions regarding the policy with an affordable premium amount but also one that offers required coverage.

Helps You Compare Plans

At InsuranceDekho, you can easily compare various insurance policies from top insurance providers and chose the best policy as per your requirements and budget.

Allows Policy Customisation

The policyholders can avail of additional covers to customize their existing insurance plan in order to get an extended coverage benefit. The common add-on covers in bike insurance include zero depreciation, roadside assistance cover, key loss cover, etc.

7 Days Customer Assistance

The customer assistance team at InsuranceDekho is available all 7 days of the week. Our customer care executives are subject matter experts and provide the customers with the right information all 7 days of the week.