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Bikers Can Save On Two-Wheeler Insurance By Following These Steps

Benefits of Online Two Wheeler Insurance Renewal

Do you use two-wheelers as your primary form of transportation?

Bikes can be far more economical than other vehicles and also very manoeuvrable in traffic. 

The most common mode of transportation on Indian roads happens to be two-wheelers. When buying a bike, people usually think about many things, like how it looks, how far it can go, how much it costs, etc. But we must remember that we also need to purchase insurance. 

Every motor vehicle operating on the road must have motor insurance. Therefore, it is crucial to consider two-wheeler insurance in addition to the bike’s features.

Thus, every motorcyclist ought to obtain bike insurance.

What does bike insurance cover?

  • Third-party liability – A third-party bike insurance policy covers only third-party people and their belongings. * The insurance does not cover any damage to the bike or the owner-rider. 
  • Own damage insurance – Own damage bike insurance coverage aids in covering damage to the two-wheeler of the policyholder. The insurance may cover losses brought on by:
  • Disasters caused by nature, such as fires, earthquakes, floods, and storms.
  • Stealing, hostile behaviour, riots, vandalism, terrorist attacks, landslides, cyclones, frost, explosions, etc.
  • Transportation by rail, road, elevator, and air

Even though you have no control over all the ratings mentioned earlier, you can reduce your bike insurance price by following specific measures.

  • The amount of your deductible –

Increasing the deductible can be the easiest way to reduce your premiums.

The deductible is the amount you are responsible for paying out of your pocket if your bike were stolen or damaged. 

Calling your insurance provider and requesting a higher deductible can save you a lot of money on your insurance. A higher deductible indicates that you may be responsible for a sizable portion of the claim if a loss happens.

  • Accumulate your no-claims bonus –

If you don’t file any claims during the duration of your bike insurance policy, you receive significant rewards. Consequently, if your claim is minimal, consider mending it yourself to save money on your insurance.

  • Create a two-wheeler insurance policy that can be unique for you –

If you possess an old bike that isn’t worth much money, it can be worth choosing an insurance policy with a lower level of coverage, such as third-party, fire, and theft, depending on your needs. But remember to properly study the policy before buying to know what you may or may not get covered for. * One can find the best options using a two wheeler insurance premium calculator online.

  • Compare insurance quotes from different sources

Do you have a good bike insurance policy available? You probably know if you shop around and compare prices yearly. Your new insurer may provide you a better deal

Before your policy expires, compare bike insurance premiums from various insurers.

Once you have located a policy that satisfies your demands, ask about rewards and feel free to negotiate the bike insurance price.

Getting to know your insurance premium –

A premium could be bought or renewed bike insurance coverage. Let’s examine several elements that affect the bike insurance price:

  • The bike’s capacity
  • Location
  • The insured declared value of the bike (IDV)
  • Insurance upgrades

You need to get insurance if you own a two-wheeled vehicle. A bike insurance policy protects your finances while encouraging you to follow the law. After making a purchase, you must remember to renew the plan before it expires.*

* Standard T&C Apply

‘Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.‘