Tips to help you buy a perfect bike insurance

Two-wheelers are one of the most mainstream modes of transport in our country. Purchasing an ideal motorcycle takes a great deal of our time and effort. Various important factors like design, mileage, and cost are taken into consideration. One more essential point to keep in mind is a proper protection strategy for your vehicle. However, most people usually get confused when it comes to purchasing a policy. To help you with it, here are some tips to consider while buying a bike insurance policy for your vehicle.





  1. Choose a suitable insurer

There is a lot of competition in the insurance market. To attract motorists to their pool of customers, policy providers offer discounts and bonuses, from which you can benefit. However, it is important to understand the market reputation of the insurance company before shortlisting one. To get a basic sense of the insurer’s notoriety, you can read online reviews about the insurance company. This will answer all your questions related to their authenticity, claim settlement procedures, and post-sale services. Select the one that fairs well for all your requirements.

  1. Know your policy type

There are two main types of bike insurance policies namely liability cover and comprehensive cover. Liability cover is mandatory by law and it secures the policyholder against financial and legal losses if the bike is involved in an accident. It covers the damage costs inflicted upon a third party.

On the other hand, comprehensive cover secures the owner and the third party against financial losses caused due to an accident. It includes third-party liabilities as well as self-damage. So know your needs and assess all the offers given by various agencies to select the one that fits your budget.

  1. Provide proper details about your vehicle

The premium of your vehicle protection strategy depends on various aspects. These include the cubic limit of your bike's motor, your bike’s assembling date, insured declared value, make, and model. Higher the cubic capacity, higher will be the premium of your bike.

  1. Don’t set a low Insurance Declared Value

Insured Declared Value is the current market worth of your bike. In case your bike gets stolen or damaged beyond repair, this sum will be taken into consideration. IDV is also one of the most significant elements that decide the premium of your bike insurance. Setting a lower insurance declared value decreases the cost which has to be paid. This will likewise diminish the claim amount with you suffering the loss. It is therefore advised to set proper insurance declared value to achieve maximum benefits.

  1. Choose add-ons wisely

You can tweak your bike insurance policy to suit your individual needs. Add-ons truly supplement your basic bike coverage. However, add-ons are also responsible for increasing the expense of your vehicle protection strategy. Abstain from purchasing those which you don’t require. This will help you save a lot on the policy amount.

Bike insurance financially protects you against accidents and damages. Hence, it is essential to choose the perfect coverage plan for your vehicle. We hope these points help you make the right decision.

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