Q1 – Define Two Wheelers in regard to Insurance?
Two Wheelers in regard to Insurance is applicable to motorized two wheelers and these two wheelers may be (with or without side car)
Q2 – Whether motorized two wheelers has same rating pattern?
The rating pattern is different and has been classified based on the use of vehicle. The use of the vehicle is classified as:-
Q3 – Whether Motorized Two Wheelers has any additional premium rating factors?
Yes. The premium calculation there are four factors which has a bearing :-
Q4 – Whether for the benefit of the customers is there any discounts, bonus &/or compulsory deductions applicable under this policy?
Yes, there is a provision of No Claim Bonus, Voluntary Deductions and also compulsory deduction applicable as under:
(i) No Claim Bonus: Insured is entitled for NCB only at the renewal of a policy after expiry of the full duration of 12 months and this ranges from 20% to 50% and is applicable on Own Damage Section of the policy. However there are certain policies where this is not applicable viz. Motor Trade Policies.
(ii) Voluntary Discount. Voluntary discount is applicable over and above the compulsory deductible and ranges between 5% to 25% of the Own Damage Section.
(iii) Automobile Association Discount.
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