Two-wheelers dominate Indian transport. Congested roads are easy to navigate on bikes or scooters. The two-wheeler should also be insured against damage or loss. Third-party bike insurance is required. Comprehensive bike insurance can fully protect your bike. The need is to buy motorcycle insurance coverage at a low premium. Reduce your two-wheeler insurance premium with these simple tips.
How to lower two-wheeler insurance?
When searching for the best bike insurance policy, you want the best at the lowest price. Several factors determine bike insurance premiums. Before buying or renewing two-wheeler insurance, you need to understand the premium components.
Reduce your two-wheeler insurance:
Know what affects insurance rates to get the most out of your policy. This will get you the most affordable bike insurance.
The following tips can lower your bike insurance:
1. Evaluate insurance
Compare two-wheeler insurance policies. Online bike insurance comparison is best. Two-wheeler insurance quotes are available online. Check coverage, and extra benefits, and find the best bike insurance. Comparing insurance shows the policy with higher coverage at a lower premium. You can also find these details on any two-wheeler insurance check app.
2. Avoid small claims
If you haven’t made a claim during your bike insurance policy period, the insurer will give you NCB (No Claim Bonus) when you renew. Up to 50%. Renewing the policy with small claims will prevent NCB. Thus, without the NCB concession, your premium will be higher. *
3. Select add-on covers
Add-ons supplement comprehensive insurance. However, a premium is required. Selecting unnecessary or redundant add-ons will raise your bike insurance premium. *
4. Timely insurance renewal
Renew bike insurance before the deadline. NCB benefits expire 90 days after motor insurance lapses. Avoid higher premiums by renewing bike insurance before the deadline. *
5. Add anti-theft devices
Anti-theft alarms may lower bike insurance premiums. It shows your desire to protect your car. The security devices must be ARAI-approved if you want to get the two-wheeler insurance concession. *
6. Use the same insurance company
It could help if you buy motorcycle insurance from the same company as your health, travel, or other insurance. Loyalty points may reduce bike insurance premiums.
7. No-claim bonus
Use the NCB to lower your insurance premium when renewing or switching insurers. Avoid small claims if you’re renewing with the same insurer to keep your NCB. If you transfer insurance, get the NCB certificate from your current insurer to use with the new insurer. *
8. Request concessions
Asking for a concession on two-wheeler insurance is fine. Insurers offer concessions to promote their policies. Get bike insurance concessions, and your premium will drop. *
9. Driving records
New-age digital insurance companies may review your driving habits to determine your premium, even though you receive the NCB for driving safely and not filing claims. Keep your driving record clean. *
10. Increased deductible
The insurance company will not cover all repair costs when settling the claim. Your deductible is a percentage—higher deductibles lower two-wheeler insurance premiums. *
11. Join a motorcycle or automobile association
Members of some motorcycle clubs receive insurance concessions. Touring clubs and automobile associations may offer concessions on bike insurance.
Is two-wheeler insurance required?
The Motor Vehicles Act mandatorily requires third-party bike insurance. Riding a two-wheeler without insurance in India is illegal. Comprehensive insurance is optional but can protect you financially if your bike is damaged or stolen. Comprehensive vehicle insurance reduces financial losses from vehicle damage or loss. You can check and compare these features on the bajaj two-wheeler insurance app. Finally, it is up to you to do the research, follow the above guidelines and ensure that you get the right insurance plan for your bike at the right cost.
* 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.