All bike riders are required by the Motor Vehicle Act of 1988 to have a bike insurance policy in place. Two-wheeler insurance ensures that you are protected from any unanticipated events, such as accidents, thefts, or natural disasters. It also serves as a safeguard for you in the event that you are held legally liable for any damage you cause to a third party or their property.
In the event that your two-wheeler causes third parties any property damage or bodily harm, your third party insurance policy will defend you. However, it does not pay for the expenses of harm done to you or your car. A comprehensive bike insurance policy, however, offers a wide range of coverage. Both your losses and the damages you cause to a third party are covered by comprehensive insurance.
It’s simple and convenient to purchase two-wheeler insurance online. Here are 5 suggestions for getting good quotes on two-wheeler insurance.
Unclaimed bonus
If a person who is insured does not file a claim during the entire policy year, the insurance company awards them a No Claim Bonus. It is progressive in nature, and the benefit grows each year without a claim. If a person waits five years before filing, they can receive a maximum concession of 50% and a minimum of 20% through the NCB from their bike insurance. *
Use caution when selecting add-on covers.
The insurance provider provides some optional add-ons for the riders to increase the bike insurance coverage. It is essential to be aware that your premiums will go up as soon as you add an add-on to your policy. So use caution when selecting the add-ons. To lower the cost of your two-wheeler insurance, be sure to avoid any supplemental coverage that is not necessary.
Updating your policy
Bike insurance contracts last for one to three years before needing to be renewed. Delaying the purchase of a two-wheeler insurance policy will raise its premium cost. However, you will have to pay a higher premium to get the policy if your bike insurance policy expires. In order to avoid any unfavourable situations, it is therefore preferable to always ensure that bike insurance renewal is done in a timely manner.
Excellent driving record
It is essential to keep a clean driving record. You reduce your risk of an accident by driving carefully. No incident, no claim. Your NCB would be highest if you had no claims under your two-wheeler policy. This will show the insurer that you pose a lower risk to them. Your bike insurance premium will eventually decrease due to both of these factors. You will ultimately be happy with the best quote for your two-wheeler. *
Comparing the law
There are numerous insurance providers that market their policies as having the best coverage. You should, therefore, always compare the available policies in order to get the best policy with the best premium quotes. To find the right policy for your needs and requirements, you can compare two-wheeler insurance online.
Few reputable online brokers and web aggregators make the claim that comparing various policies is simple. You can use a two-wheeler insurance premium calculator on company websites to compare the policies and their quotes. You receive technical assistance from online brokers both when you purchase the policy and when you make a claim.
Therefore, taking into account the following factors will help you choose the best two-wheeler insurance plan for your needs. And ensure you get a third party bike insurance which is mandatory, or get comprehensive bike insurance for complete coverage.
We hope this article has shed some light on getting the best two-wheeler insurance quotes.
* Standard T&C Apply
** Currently, there are 2 tax regimes in India – new and old. To get the tax benefit you desire, choose the correct one after consulting an expert. You can opt for a regime change during the next financial year.
# Visit the official website of IRDAI for further details.
## All savings are provided by the insurer as per the IRDAI-approved insurance plan. 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.