Before giving you two-wheeler insurance, an insurance company will check the details of your vehicle, where it is, and how much it is worth based on the market at the time. By looking at these important factors, insurance companies figure out how much you’ll have to pay in premiums to get the benefits of the policy you want. If your bike has a bigger engine and, as a result, a higher IDV, or if you live in a big city, your premium is likely to be higher. You can find out your premium by using a bike insurance check app.
How to get your motorcycle insurance to cost less?
If you want to save money on your motorcycle insurance, do the following ##:
Read reviews of two-wheeler insurance and compare the quotes for premiums from different companies. You can use online tools like a two-wheeler insurance premium calculator to get these quotes.
This tool takes the information you give about your motorcycle insurance and uses it to come up with premium rates. All you have to do is enter your personal information (name, age, contact information, etc.), the plan you want, and any extra add-ons you wish to add to the base policy.
You can compare these quotes based on things like prices, benefits, the company’s reputation in the market, its track record with customer service, and its financial health. You can find reviews online, or you could do a search to find out how the motorcycle insurance company is known in the market, etc. You can also make this comparison on your mobile by using a bike insurance check app.
The deductible is another thing you should know about if you want to pay less for your two-wheeler insurance. There are two types of deductions: mandatory and optional. Here, a higher voluntary deductible can help you get a lower rate on your two-wheeler insurance premium. Setting a higher voluntary deductible also means that if you file an insurance claim, you’ll have to pay more money because you’ll have to pay the deductible. The insurance company can pay the rest. *
You can also look at the websites of the different insurance companies to get quotes on motorcycle insurance premiums. You can also get a much better idea of the company’s policies by going to its website, which will help you make your decision.
Check out the option of buying insurance for a two-wheeler online. Some of the benefits of going digital are that it’s easy to find your way around, it’s easier to buy things, and you won’t have to deal with any of the hassles you might face when buying a policy offline. Some companies also offer concessions when you buy insurance online.
When comparing insurance plans, it is also important to see how convenient it is to renew motorcycle insurance. Do they offer a good grace period? What is their policy if the insurance lapses? If you renew with them, what are the benefits that you get? These are some important questions to consider when getting an affordable insurance plan for your bike.
Make sure you compare multiple plans, which is easy to do because you can get this information at your fingertips on the internet and decide whether you want third-party coverage or comprehensive coverage. Both of these types of insurance have their own advantages. Use these tips as you look for affordable two-wheeler insurance to find a plan that fits your needs and gives you enough coverage.
And be sure to renew your insurance so that you don’t have to deal with bike insurance expired renewal. That can negatively impact your next insurance premium and also the safety net that the insurance provides for your bike.
* Standard T&C Apply
## 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.