simplification of step 1
This is the first step of the premium calculation process of two-wheeler Insurance
After filling all the details in step 1, the next step is the comparison process in which company are differentiated by their idv and ncb
we have already studied about ncb, now here it is very important to know about the term Idv
Idv stands for “Insured Declared Value ”which means the maximum Sum Assured fixed by the insurer which is provided on theft or total loss of the vehicle. Basically, IDV is the current market value of the vehicle.
There are various further details in step 2 which need to be filled so that proper data can be calculated as per the requirements.
a- First select by company
b- The next step is to modify the data as per the requirements
c – additional covers
then third section is for additional covers in which we have to fill up some details about the vehicle ( for example, the value of electronics accessories, value of non – electrical accessories,. If fibre glass fuel tank is fitted then click yes and if not then click no.
next section is for Lpg /cng kit cover in which we have to select the type and the value
The next section is for the liablity covers .we have to select one type of accident cover for pillion rider.
pillion rider is ( A passenger in the seat is said to “ride pillion” or may be referred to as a “pillion.”)
e. The next section is for the discounts
Various information need to be filled so that one can know wether they are valid for any discounts or not .
f – then there is the option save your search one can evaluate their data anytime.
After the additional process is filled the click the option select and compare
when you click the select and compare option this type of comparison table of the companies comes up on the screen
one can select the apt company as per their requirements .
AFTER this process the decision making process starts in which one compares all the company and select the appropriate one out of those .
Points to keep in mind While Buying/Renewing Two Wheeler Insurance:
DOCUMENTATION REQUIRED FOR TWO WHEELER INSURANCE
Getting a Two Wheeler insured requires minimal documentation. For a new policy, you must submit the filled up proposal form and copy of the Registration Certificate (RC). For renewals, you will need copy of the RC (Registration Certificate) along with the copy of previous insurance policy. It is advisable for you to fill your details carefully as by providing accurate and complete information you will face no issues at the time of a claim.
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