Why up to 70% two wheeler s uninsured in India?

by

Addy Brown

We as owners of two wheelers look for opportunities to equip our two wheelers with modern safety features but don t focus to buy two wheeler insurance. A two wheeler insurance policy helps an individual by compensating for own vehicle damages as well as third party damages as well. It helps us to overcome any financial setback which may arise in event of any accident. Two wheeler insurance renewal is equally important as buying insurance policy for your new vehicle. There are various auto insurance companies offering insurance products to meet your insurance motives.

One can buy bike insurance through various mediums. It can be bought through offline or traditional medium which involves buying insurance from direct agents while an individual can purchase bike insurance online as well. You can get scooter insurance rates on website of preferred insurance provider and through various insurance aggregators online.

These insurance aggregators provide you option to obtain multiple companies auto insurance quotes on a single platform for new two wheeler insurance plus for any two wheeler insurance renewal. They also provide comparison tools to compare different policies which enable you to buy insurance product suiting your requirements. You can compare different types of insurance covers with help of insurance aggregators. Buying bike insurance online has emerged as the most convenient mode of buying insurance due to ease of buying insurance and it being cheaper mode as well.

But as per analysis, penetration of two wheeler insurance is very low. The penetration of two wheeler insurance decreases drastically if rural areas are taken into account. Most of the two wheelers run without possessing a genuine insurance policy. This is due to fact that insurance premiums are rising day by day and getting beyond reach of a normal person.

Scooter insurance rates are increasing as inputs costs are rising for insurance providers as well. Further, two wheeler owners don t face any inspection of insurance documents in rural and smaller cities in the country which is the other prime reason for most of two wheelers not being insured in the country. The other reason contributing is the fake policies market existing in the country. Due to advancement in printing technologies, existing company insurance policies are replicated helping them getting through any official checks. Spread of bogus policies is a problem and concern area for insurance providers.

We provide two wheeler insurance which cover your scooter or bike against theft or damage. Compare

bike insurance online

policy, premium and feature form leading insurers India. For more information visit: www.policybazaar.com

Article Source:

ArticleRich.com