Typically in a country where only 17% to 18% of two wheelers are insured today we can still say that two wheeler insurance has not gained the traction like any other forms of insurance. Two wheeler insurance is a typical form of general insurance policy aimed at the providing two wheeler owners a cushion of comfort. in case the bike is stolen or in case you end up paying a high amount of money towards its repair.
Insurance is the equitable transfer of the risk of a loss, from one entity to another in exchange for payment. It is a form of risk management primarily used to hedgeagainst the risk of a contingent, uncertain loss. An insurer, or insurance carrier, is selling the insurance; the insured, or policyholder, is the person or entity buying the insurance policy. The amount of money to be charged for a certain amount of insurance coverage is called the premium. Risk management, the practice of appraisingand controlling risk, has evolved as a discrete field of study and practice.