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NCB, which stands for No Claim Bonus, is the bonus you earn for every claimless year of your insurance. In other words, it is the benefit given by the insurance provider for safe driving to make the vehicle claim free for a year.
Multiple factors need to be looked into when choosing a suitable insurance policy for your two-wheeler, whether at the time of purchase or during subsequent renewals. One of those is IDV.
India has seen a rapid rise in two-wheeler ownership. And that has also increased the incidence of accidents involving two-wheelers. So, for your peace of mind and to protect you financially, you must get a good two-wheeler insurance for your bike or scooter. What's more, third-party insurance is mandatory under the Motor Vehicle Act.
You have just purchased your dream two-wheeler. It's sleek and it's the vehicle of your dreams. You can't wait to zoom through the streets to see how it runs. However, before you start the engine, you need to ensure that you have your bike RC book in place. The RC – or the registration card – is the official document that ensures your bike has been registered with the Regional Transport Office (RTO).
As the number of vehicles on roads increases, accidents, and related unfortunate incidents. It is not compulsory that accidents have to happen due to your negligence;it can be due to the other party’s negligence. Apart from the injuries, damages to the vehicle and associated stress, it also takes a toll on your finances.
Two-wheeler insurance is a motor insurance which is categorized under General Insurance. Two-wheeler insurance policies are broadly classified into two types viz., (i) Comprehensive Policy coverage, also known as Comprehensive Package Policy and (ii) Third Party Liability Insurance policy coverage.
The two-wheeler Automobile segment is broadly classifiable under two segments, viz., those of Engine Capacity of less than 350cc and those of above 350 cc. While the segment above 350cc is generally perceived as Luxury bikes segment, the segment below 350 cc is generally perceived as Luxury bikes segment, the segment below 350 cc (particularly those of less than 120 cc) cater for the basic mobility to the masses in India.
The joy of riding a bike is priceless. If you want to keep it that way, it is important that you follow the rules laid out by the government. Indian roads witness approximately 400 deaths every day in to road accidents.About 5 lakh road accidents take place where in around 1.5 lakh people die and another 3 lakh get injured.
In 2018, around two crore two-wheelers were sold across the country. This number highlights how well the two-wheeler industry has done in India. The rise in two-wheeler purchases also means that two-wheeler insurance is mandatory, as per the Motor Vehicle Act.
A two-wheeler is a handy vehicle to own. It is not very heavy on the pocket, allows you to zip around town very easily and also offers great mileage and fuel efficiency. If maintained well, you can use your two-wheeler for a minimum of a decade without incurring any huge expenses.
Multiple factors need to be looked into when choosing a suitable insurance policy for your two-wheeler, whether at the time of purchase or during subsequent renewals. One of those is IDV.DV, which stands for Insured Declared Value, is nothing but the current market value of your two-wheeler.
Motor Insurance is a must both from the view point of law in terms of third-party Coverage and to protect against Own Damage losses to the vehicle. One cannot simply overlook the importance of two wheeler insurance at any point in time. So, while we consider insurance to be indispensable, we need to keenly look into the finer aspects too, one of which is NCB.
A two-wheeler is one of the best types of vehicles one can own. It costs a few thousands, easily fits into budgets and can be purchased by taking out an instant loan. It also offers great fuel economy. Moreover, the compact size of the vehicle makes it easy for one to navigate through the traffic despite rushed traffic hours.
Two-wheeler insurance in India is governed by the Motor Vehicles Act, 1988 and the Insurance Companies and the policies issued by them are regulated by the Insurance Regulatory Development Authority of India (IRDAI). Two-wheeler insurance is motor insurance which is categorized under General Insurance.
Two-wheelers, like all other consumables, are prone to wear and tear and depreciate in utility over some time. While this is inevitable, a Zero depreciation cover can come in handy, with reassuring feeling without losing sleep over factoring in of deprecation.
Even as an experienced rider, you are at a greater risk of a road accident when on a two-wheeler. At the same time, with the fast moving traffic around, driving a car now requires greater attentiveness than ever, and has its own set of risks.....
Most bike owners believe that they can ride their bike anywhere in the country. This could be attributed to the fact that their driving license says that they are permitted to drive all over the country. But just because you can drive in all states and union territories on that document, it does not mean...
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