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Thursday, 23 March 2017

A Face Off: Comprehensive Two-Wheeler Insurance Vs. Third-Party Insurance Policy

For you, your bike is a matter of pride and joy, so it is necessary to secure it with a right two-wheeler insurance policy. When it comes to insuring a vehicle, there are two types of motor insurance policies available in the market— third-party and comprehensive insurance policy.

While, both the policies offer coverage, it is imperative to be clear about the benefits of each of the covers. So, let’s start.

What does third-party insurance mean?

Also, known as the ‘act only’ cover, third-party insurance is a statutory requirement to ply your vehicle on Indian roads. It is known as a third-party insurance because the beneficiary of the policy is other than the policyholder. Though, the policy doesn’t offer any direct benefit to the insured, it offers a third-party legal liability coverage to the policyholder.


What does comprehensive insurance mean?

In addition to covering third-party legal liability, a comprehensive policy covers damages or losses caused to your vehicle from perils, like fire, burglary, storm, etc. It covers you against everything under the sun.


Difference Between Third-Party Two-Wheeler Insurance and Comprehensive Two-Wheeler Insurance 


So why should you choose a comprehensive insurance policy over third-party insurance?

You might be thinking that as third-party insurance policy is cheaper than a comprehensive two-wheeler insurance policy, you should drop the latter. However, before taking a plunge, wait—Do you think your third-party insurance is sufficient to give complete coverage? What if there is a severe accident that causes massive damages to your bike? Who will bear the financial brunt? 

We all are emotionally attached to our vehicle and a single scratch on a ‘beloved’ motorcycle is enough to panic our soul. At this time, you will be disappointed to know that your third-party insurance policy will not help you. 

A third-party insurance policy is sufficient only if the riding conditions are safe. Being mandated by law, it will only keep you safe from traffic police. For the complete coverage, it is necessary to go with a comprehensive bike insurance which will cover both you and third-party, thereby offering financial cushion against any mishap. 

Considering the alarming rise in road accidents in India, having a comprehensive two-wheeler insurance is recommended to cover all types of liabilities and expenses that may arise after an accident or collision.  



Niche riders to expand your coverage

A comprehensive policy offers an end-to-end coverage and ensures less stress for policyholders. Further, it is feasible to expand the cover by opting for the below riders:

  • Engine Protect or Hydrostatic: Many times, insurers refuse to settle the claim because the vehicle was submerged in water. Undoubtedly, the cost of repairing an engine can run in lakhs, and therefore, it is worthwhile to go with this rider which covers expenses associated with engine repairing. 
  • No Claim Bonus (NCB) Protection: A single claim can bring your NCB to zero, therefore, go for an NCB protection which will help you retain your NCB even if a claim is made.
  • Roadside Assistance Cover: Stranded on a road during the wee hours with an immoblised bike? Any unforeseen situation can put a brake to your otherwise smooth bike journey. Go with this rider, which comes handy if your bike breaks down in the middle of a road, there is an accident, your insured vehicle runs out of fuel or any other emergency arises.
Tips to shrink comprehensive bike insurance bill

Ironically, people avoid comprehensive policy to save money, but what they don’t know is that saving a few penny now can prove expensive in the long run when they would have to shell out money from the pocket for repairing their vehicle. So, act judiciously and instead of avoiding comprehensive policy, follow the below tips to cut premium rates:

  • Increase the deductible limit, which is what you will have to pay at the time of claim before the insurance kicks in. However, raise limit only as much as you can afford
  • Though, insurance is meant to secure you, avoid approaching the insurer for fender bender damages. An insurer rewards policyholders with No Claim Bonus (NCB) if they don’t make a claim in a previous policy tenure
  • By installing anti-theft equipments, like central locking system, anti-theft alarm, etc.; you can cut your insurance premium bill. However, these anti-theft equipments must be approved by the Automobile Association of India 
  • Become a member of the Western India Automobile Association to enjoy discounted premium rates
So be a smart buyer and get yourself a comprehensive insurance policy to protect your bike journey from all kinds of perils. Buy two-wheeler insurance because you need it and not just for the heck of it!

Monday, 20 March 2017

Friendship Bond or Religion Beliefs: What Matters More?

Today I am here to talk about something which is considered a very sensitive topic. Not just the mainstream discussion, also the small aspects of are deliberately ignored. The topic is such that everytime a discussion is initiated, it turns into a heating argument​. But, today I will request the readers to treat this as any general topic and avoid mocking me for raising this subject.

pic courtesy: Pinterest

Friday, 17 March 2017

5 Simple Modifications to Make Long Rides on Your Motorcycle Comfortable

Who doesn’t love new bells and whistles for their bike, but they should have aesthetic and functional purposes too. There are tons of modifications you can do in order to increase performance or appearance of the motorcycle. Here are the few worthy upgrades which you can do in a functional way. For daily use, these can be used as well as for touring purposes, which is our main intention.

pic courtesy: royalenfieldblog

Goods and Services Tax (GST) Bill, explained

One of the hotly debated issues of this current year is the execution of GST Bill from 1st April 2017. Rajya Sabha passed a memorable bill to bring down the expense rates in India. GST charge (first presented in the Rajya Sabha in 2014) was endorsed by the upper house with 203 votes in support. The point is to have one roundabout duty for the entire country, which will make India a bound together basic market.

pic courtesy: profitbooks

Tuesday, 14 March 2017

Driving at Night? These 4 Tips Will Ensure You Arrive at Your Destination Safely

Driving at night is a difficult task whether it's a two-wheeler or four-wheeler, they have their own risks and guidelines to follow. Let’s discuss some of those guidelines which we can follow and make our and others life a little bit easier.

pic courtesy: Flickr

Monday, 13 March 2017

Molestation Charges Against TVF's Arunabh, here's the whole story so far

TVF's Chief Arunabh Kumar has been in the news for past couple of days but this time around for all the wrong reasons. A story titled 'The Indian Uber- That is TVF' appeared on Medium by a user named Indian Fowler on March 12, 2017 which claimed that she is an ex-employee of TVF and was molested by Arunabh on several occasions.

Friday, 10 March 2017

The Evolution of Motorcycle Safety Gears in India - Arrive SAFE

With the increasing craze and popularity of biking culture in India, more and more brands of riding gear are being introduced. Proper riding gears are most important as they can be matter of life and death depending upon the situation.

How can Startups benefit from Influencer Marketing?

Influencer Marketing is the latest buzzword when it comes to the adapting to the marketing in the digital age. It is basically utilizing the influence of bloggers and social media influencers to promote your product or service to their audience. An Influencer may be an established Blogger, YouTuber, or a person with large following on social media platforms like Facebook, Twitter, Instagram, Snapchat etc. Influencers are considered experts in their respective niches and hence, their recommendations carry a great value for the people who follow them.
Image credit: Zepo.in

Why should you choose SP Jain School of Global Management over traditional MBA?

The current exposure of Global Economies in India has led to a huge rise in the number and profiles of job opportunities. But, it has become more competitive than ever if you want to excel in your respective careers. With the large pool of talented undergraduate students entering the job market each year, it has now become mandatory to elevate your profile with a professional full-time MBA.

pic courtesy: spjain.org

Thursday, 9 March 2017

The World's Most Beautiful And Significant Rivers

Some of the world’s most beautiful rivers provide ways to explore the beauty of nature. Whether you climb on board a boat or explore the banks by foot, these rivers are guaranteed to provide a visual feast you won’t soon forget. A river is the beauty of nature, that makes you forget every pain and gives unimaginable joy.

Kenai River, Alaska

pic courtesy: flickr

Why Moving to a New City is an Experience of a Lifetime

It is amazing how we adapt to a place and find our family in that new place. One packs one’s whole life in a suitcase in search of something valuable and something life changing.

I shifted to a new city and in fact a new region altogether. This was the time when for the first time after I completed my graduation, I started staying away from my home. Being from North and shifting to South was not an easy decision I made. There were difficulties that I had to face, not to forget, cultural and the language barrier.

Pic courtesy: knowledgeformen

Tuesday, 7 March 2017

Significance of working with an NGO and Volunteering

Working for a social cause is something very fulfilling and no money consideration can ever compensate for the amount of fun, learning and social sensitivity you tend to gather for people, associations and society at a large. Perception needs to be changed when we talk about the underprivileged and people facing with some kind of grave problem and instead of having an approach of criticising people for their own circumstances let us just gather courage, positivity and an open hand to all such people who feel oppressed.

pic courtesy: Houston Oasis

Monday, 6 March 2017

8 Most Unusual Theme Park Rides and Attractions

1. X-Scream

X-Scream is the world's third highest amusement ride, at a height of 866 feet, located in Las Vegas. This ride takes advantage of a built environment to create new thrills. Ride uses a relatively low-tech magnetic braking system as the ride rolls forward, the blade slips in between a row of magnets before hitting a rubber bumper that brings it to a standstill. As the ride is tilted backwards, the blade slips out and heads toward an identical row of magnets at the other end.

Sunday, 5 March 2017

Work Smarter, Not Harder: 8 Tips for Effective Time Management

“Managing your time is the best skill to sincerity, and sincerity leads to success”

We all know how inevitable our time is. Every day we run for saving our precious time. Your boss in the office will make you listen to his/ her didactic words (if he/ she is soft spoken), which make you realize the essence of time. Our professors always worry about the way we spend our precious time. Our parents look at us with an unsatisfactory expression when we watch our favorite shows for long. The long queue outside the ATM during a very busy schedule will make you feel the essence of time. Your call in waiting will make you count each second. In short, time is the only thing which drives everything. It is an undeniable fact. So, it is mandatory to have a good quality of managing your time according to your convenience. Even, a beggar has to think about his/ her time (in today’s world).

Saturday, 4 March 2017

7 of the Coolest Tech From CES 2017

Inaugurated on 24 June 1967, The Consumer Electronics Show (commonly known as CES) - An annual trade show organized by the Consumer Technology Association. It is held in January at the Las Vegas Convention Center, Nevada, United States. This event hosts presentations of new products and technologies in the consumer electronics industry.

Thursday, 2 March 2017

7 Quick Preparation Tips: Class 12 Board Exam (CBSE/ICSE)

CBSE/ICSE Class 12 board exam has thumped the entryway of class 12 understudies. With about a week left to the exams, it is imperative to make a snappy or a short arrangement to split this exam. This blog of mine will manage all of you through with respect to the planning technique required for this exam.

 
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