Two-wheeler accidents are very common these days. The two-wheelers suffer the most during an accident as they are more vulnerable than car owners and truck drivers. It not only makes two wheeler insurance important but mandatory as per many laws and acts.
Imagine if a girl driving a scooter gets hit by a truck. The truck driver will leave immediately and the girl will have to suffer both health and financial trauma. Now what if the girl had vehicle insurance? It means that she will be compensated for her vehicle damage which reduces the financial trouble a lot. It is a third-party event. But the impact on the girl was huge.
Similarly, there can be other numerous reasons why two-wheeler insurance is important. In this article, you will learn about the types of two-wheeler insurance.
- Third Party Insurance Plan
This insurance plan covers any kind of third-party damages done to the second party. It is made compulsory as per the law that third-party insurance plans must be taken. Moreover, it is a great way to secure your vehicle and get financial assistance at the same time. Even if you are prone to any injury or if you die, this insurance plan will be there to cover you. The catch here is that this insurance does not cover the dent and damage to your two-wheeler.
- Comprehensive Insurance Plan
Just as the name indicates, the comprehensive insurance plan includes the features of Third-party insurance plans as well it covers the damages to your two-wheeler also. Hence any kind of damage to your vehicle due to natural calamity, accidents, or even man-made events like riots is covered in this insurance plan. This plan is better than the third-party plan because an NCB discount of 50% is applicable. You can also make cashless claims, quick settlements, and all kinds of online transactions.
- Personal Accident Cover Plan
Lastly, comes the Personal Accident Cover Plan or the PA plan. To be specific, it is not a plan but a kind of coverage that is essential for all insurance takers. It is also compulsory as per the law. Just like the Third-party plan it will give you financial assistance whenever you get into any kind of accident on your two-wheeler. It will also provide coverage for your vehicles. But if you take a comprehensive plan, then it will cover all kinds of damages to you and your vehicle. Hence, no need to take separate plans and covers.