Buying a two-wheeler vehicle does not end your responsibility. Once you have purchased a two-wheeler, you must insure it with the proper coverage that meets your needs and offers financial assistance in the event of an accident. There are many options available, so you can choose from any of them. The key, though, is to buy bike insurance online with a more affordable plan with a broad range of benefits. Look at these hints and tips to help you choose a vehicle insurance plan that won’t break the bank:
Online two-wheeler insurance tips to help you save money:
1. Do not choose a vehicle with poor performance.
Consider your needs and requirements when choosing a two-wheeler before making a purchase. A pricey bike with the newest features, however, will ruin your finances and force you to pay a high premium. Even though a low performing bike is not desired, it is advisable to keep your financial requirements in mind when buying a bike.
2. Do not overstate your case.
Raise your hand if you are aware that general insurance companies offer ‘No Claim Bonuses’ to customers who have not yet filed a claim. As a result, make sure to file a claim in order to take advantage of the NCB benefit at the time of renewal. Pay for minor physical damages like dents or scratches out of your own pocket. *
3. Keep your options open before making a decision.
Nothing more than a comparison between various products satisfies our traditional soul. It’s crucial to compare the premium costs of various policies before you buy bike insurance online. You can either look up each policy’s features individually or request an online quote for two-wheeler insurance.
4. Don’t overlook the extras.
Your opportunity to increase the value of your two-wheeler insurance policy is an add-on. Choose the most popular add-ons instead, such as riders, NCB benefits, personal accident insurance, zero depreciation benefits, and so on. Select only the riders that will benefit you, though, as they come with extra costs. *
5. Don’t disregard NCB protector.
There are some companies that allow NCB riders or add-ons when you purchase two-wheeler insurance. By using NCB Protector, you can be sure that your NCBs will be safeguarded whenever you submit claims. Additionally, because it is inexpensive, it allows you to save money. *
6. Remember to renew your policy.
Failure to renew your bike insurance will result in the policy being terminated, which will ultimately result in the loss of benefits. A two-wheeler insurance renewal is necessary to maintain the policy’s long-term benefits in order to prevent this. Fill out the necessary information and pay the required sum to renew the policy. And you cannot ride a bike without third party bike insurance. It is against the law in the country to ride a bike without insurance.
7. Do not accept a short-term appointment.
Make sure you don’t choose a two-wheeler insurance plan with a short tenure when you decide to go with it. Choosing a plan with a longer tenure ensures that you get to save a significant amount of money because it prevents premium increases. Because the premium is fixed for the duration of the policy, choose a plan with a 3-year lock-in period.
When do you intend to invest now that you are aware of these tips for finding affordable two-wheeler insurance online? Use these strategies to your advantage to get lower premiums for your vehicle’s smooth operation. To calculate the premiums with riders, you can use a two wheeler insurance premium calculator. It is available on aggregator sites and on insurer websites. All you have to do is fill in a few details, and your premium will be automatically calculated.
* 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