Do you own Bharti AXA Two Wheeler Insurance for your vehicle? How much do you know about the term deductible allied with this plan? If not much then this article is helpful! Well, before digging into the depth, let’s take a look at the company’s profile.
Initiated in the year 2008, Bharti Axa General Insurance Company Ltd. is counted among the famed names in the insurance sector. Bharti Enterprises joined hands with AXA to create this organisation, which is the first company to receive dual ISO certification in the very first year of its inception. The two-wheeler insurance offered by this company has constantly been garbing customers’ attention in terms of benefits and services. Here is why-
The insurance plan defends your vehicle by providing coverage in an event of robbery, accident, theft, fire, etc.
- Bharti AXA Two-wheeler Insurance policy covers other party liabilities in case of injury or damage caused to the third party or third property damage.
- Cover up to 1 lakh is entitled, in case of accidental permanent disability or the driver dies in the accident
- With basic cover, this plan also offers personal accidental coverage for the fellow-passenger up to 1 lakh.
- Loss or damage caused due to natural disasters like flood, earthquake, fire, explosion, landslide, storm etc.
- It includes man-made disasters like theft, burglary, riot, strike, accident by external means, terrorist attack, while your vehicle is transit by road, rail or during shipment etc.
How Deductibles Impact on Your Insurance Premium
Premium is what you pay annually to have the cover while deductibles are the fixed amount you are liable to pay before your insurer pays t he bill. For example, if the total bill of your bike repair is 5000, you might have to pay the first 500 and remain 4500 will be paid by the insurer. Deductibles are interrelated and many vehicle owners use this to lower the premium rate. The premium amount that you will have to pay annually will also depend on the deductibles, you’ve decided while buying a plan. The plans with a high deductible will always have a low premium. Therefore, many choose the plans with high deductibles.
Two-wheeler insurance pricing is always a combination of few factors and deductibles is one of them, which decides the premium rate. It is the maximum amount that you decide to pay out of our pocket. Whenever an emergency occurs, if you decide to pay the maximum portion of it by own, there is less burden on the insurer, and this comes back as a certain amount of discount on your premium. Premium and deductibles are countervailed, if one rises than the other goes down. So, select a plan which suits your requirements. Always compare various plans online and go for the best one. Bharti AXA is one of the prominent insurance service providers in the market. Two-wheeler insurance plan of Bharti AXA is designed keeping the needs of you in mind. You can browse for Bharti AXA’s official website to check the various insurance products other than two wheeler insurance.
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