Sometimes, two wheels are better than four. For thousands of road-trippers, commuters, and hobbyists around the country, two-wheeled vehicles are a viable way to get from Point A to Point B safely, stylishly, and on a vehicle you enjoy driving. Your ride of choice might be a scooter, a moped, or any variety of motorcycles that exists and it’s important to keep yourself, as well as your vehicle, safe on the road every time you drive it.

 

You might just take your two-wheeler out on nice days, or you might use it as your daily and main mode of transportation. Whether you are a frequent two-wheeler driver or only on special occasions, having the right two-wheeler insurance policy is an essential step towards keeping yourself, others, and your vehicle safe out on the road.

 

Two-Wheeler Insurance

 

Having insurance for your two-wheeler is just as important as having an insurance policy for your house, your car, or your life. Some people think that two-wheelers don’t need insurance because they are so small; however, they need to be covered by a suitable two-wheeler insurance policy, as they pose different risks to drivers and the vehicle itself.

 

Although a scooter, moped, or dirt bike most likely won’t be as expensive as a car, taking care of damages that result from an accident, theft, or vandalism out of pocket can put a hefty dent in your finances. Having the right two-wheeler insurance policy can help protect you financially and keep you safe in case you are involved in an accident with another uninsured driver.

 

In addition to helping cover your vehicle in case of damage, you also want to make sure that you have an insurance plan that takes care of you in case of an accident involving your two-wheeler and another vehicle. Two-wheelers pose a greater safety risk than some cars because of how exposed you are to other vehicles, drivers, and adverse weather conditions.

 

What to Know about Two-wheeler Insurance

 

When it comes to choosing the right kind of two-wheeler insurance, the more you know about the kind of coverage you need, the better off you are. At the very least, your two-wheeler insurance policy should include third-party liability coverage, which help protects other people and their property if they are hurt or damaged by your two-wheeler. If you only get third-party liability coverage, your bike or your injuries won’t be covered by your insurance policy. In most states, third-party coverage is mandatory for a motor vehicle insurance policy.

 

You can also choose to get OTC (other-than-collision) insurance, which has third-party liability and coverage for you and your vehicle. You can also purchase additional insurance coverage for your two-wheelers, such as fire coverage or collision coverage. These add-ons can be customized into your insurance policy to meet your needs and to fill in any gaps that may exist in your insurance policy. You can choose to obtain more insurance for your two-wheeler if it has been customized or improved, if it is a classic, or if it is a vehicle that is increasing in value over time.

 

Two-Wheeler Insurance Cost

 

How much you’ll spend on two-wheeler insurance depends on the two-wheeler you have and how much you drive it. Similarly with many other kinds of insurance policies, insurance companies take various factors into account when calculating your premium payment. Some insurance companies look at how new or expensive your two-wheeler is and price your insurance policy based on that, while others might look at the mileage as a bigger factor for influencing your insurance premium.

 

Other factors that can influence the cost of your two-wheeler insurance premium include:

• The make and model of your two-wheeler
• The engine capacity of your two-wheeler
• Where you live
• What kind of insurance coverage you choose

 

If you own a two-wheeler, be sure to pay attention to your vehicle’s ‘Insured Declared Value,’ or IDV. This tells you the cost of your vehicle based on market value and depreciation over time. Insurance premiums tend to decrease over time because the two-wheeler’s overall value is also decreasing. If your two-wheeler is in an accident and needs to be written off, this IDV tells your insurance company how much it will be to pay the vehicle off.

 

To learn more about two-wheeler insurance plans, contact our team at www.protectiveagency.com or call (877) 739-9367. Our licensed insurance agents will be happy to answer any questions you have about two-wheeler insurance.