Hero MotoCorp has been a global market leader for its clients in producing and manufacturing technologically cutting-edge bikes and scooters. As a result, the company, which has its headquarters in New Delhi, could surpass all other two-wheeler producers worldwide in the number of units sold. With a greater than 50% market share in the domestic motorbike market, the firm controls the largest two-wheeler consumer base in the world. Over 90 million happy consumers have helped it establish its footprint in 37 nations across the globe.
Thus, it should be no surprise that people from around India wish to purchase a Hero bike as their preferred mode of transportation. But, for all Indian motorists, having a bike insurance policy is mandatory. No vehicle is supposed to ply on the road if it does not have valid insurance. Therefore, you must have Hero Bike insurance if you wish to ride your Hero bike. But do not think you only need to have insurance for your 2-wheeler because the law mandates it. You essentially require Hero motorcycle insurance for the several things it can do for you. So without further ado, let us see why you need Hero insurance for your bike.
Why is a Hero Bike Insurance Necessary?
As we have mentioned above, there are many reasons why having Hero motorcycle insurance is necessary. If you want to know why you should invest in a bike insurance policy, just look at the points below.
- Indian Roads and Accidents
Accident probabilities are increased by hasty driving and poor road conditions. Accidents can result in injury, bike damage, and occasionally even fatalities. Financial loss is unavoidable in these situations because one must pay to fix the bike and obtain medical attention if wounded. If insurance for a 2-wheeler has been purchased, the insurance provider will cover all repair costs. As a result, it won’t break the bank, and you won’t have to stress about unplanned expenses.
You are legally responsible for paying for any damage if a bike accident caused by you causes an injury to a pedestrian or causes property damage. However, you are protected against such responsibilities by third-party liability insurance, in which the insurance provider will handle the potential obligations on your account following the limits and circumstances.
As we have already mentioned, the law mandates having insurance for your 2-wheeler. If at any point you are caught driving your vehicle without valid insurance, the penalty can range from large fines, loss of licence, confiscation of vehicle, to even imprisonment. The Government has even made this law stricter by making long-term bike insurance plans mandatory.
The main benefit of having an insurance plan is that it provides financial assistance to the insured person for any costs associated with repairing a vehicle harmed in accidents or other natural disasters, among other things. One can obtain fair compensation in their hour of need by providing only a small sum to purchase the insurance plan.
If you are ever caught during an accident, the financial burden for the same can be a lot. It can drain your savings and even put you into debt. However, if you have Hero bike insurance, this will never have to be a problem, and you will be able to keep your savings intact in all situations.
- Peace Of Mind
One of the biggest reasons you should purchase a bike insurance policy is how much peace of mind it can bring you. When you are driving on the streets, you are confident that there is no situation you will need to face alone, and you are prepared for every worst-case scenario.
Can You Cancel Your Hero Bike Insurance Mid-Way?
Yes. You can cancel your active bike insurance policy before it expires. There might be scenarios where you want to change your insurance provider, and to switch over to a new policy, you need to cancel the existing one. Remember that there are two types of policies — mandatory 3rd party bike insurance and comprehensive or OD bike insurance. Cancelling the non-mandatory policy is easier than cancelling the mandatory policy.
To cancel your bike insurance policy,
- Contact your insurance provider and inform them about your plans to cancel the bike insurance that you have with them
- Make sure you have not made any claims during that policy tenure; otherwise, you cannot cancel it before its expiry
- To cancel your 3rd party bike insurance, you need to have an alternative active policy
The points above will help you see why having Hero Motorcycle insurance is of utmost importance. You may also understand why the civil authorities stress on people having this insurance. So when buying your Hero bike, do not forget your Hero motorcycle insurance online.