The decision of which motorbike insurance to choose requires ample consideration. Learn how to select a personal accident cover in bike insurance using these steps.
Step 1: Two-wheeler Coverage
The insurance coverage component of your two-wheeler insurance is a priority. First, determine the type of cover you need. A comprehensive policy is regarded as a good two-wheeler insurance policy. It includes damage to the self-motorcycle as well as the required third-party liability cover. Additionally, you can choose from various add-ons to reinforce your policy.
Step 2: Cost of Insurance
When you know the coverage you require, you can look for insurance companies that charge less for that policy. While the premium for a comprehensive insurance cover fluctuates from provider to provider, two-wheeler third-party insurance rates are set by the Insurance Regulatory and Development Authority of India (IRDAI). You can either research or check out site aggregators to find out learn which insurance company offers the coverage you are looking for at the right price. On such websites, be sure to confirm the coverage provided by the policy with more savings.
Step 3: Two-Wheeler Insurance Provider
It’s time to choose the insurance company now that you know your coverage and have a budget in mind. Major insurance companies have a website. The pre- and post-purchase support provided by an insurance provider should be the basis for determining an insurance provider’s viability.
The user experience is seamless with insurers like Bajaj Allianz bike insurance claims. Prior to payment, be aware of what the policy covers. You can always check out an insurer’s two-wheeler claim settlement ratio to see if their claim settlement procedure is stress-free or not. It’s generally mentioned on the website. Also, read the customer reviews.
Step 4: Purchasing and Renewing Two-Wheeler Insurance
Your insurance policy paperwork is emailed to you after you make the payment. To guarantee insurance coverage, ensure renewing your policy on time.
Let’s look at seven reasons you may not be getting the best two-wheeler insurance prices.
1. You purchased without comparing
Two-wheeler insurance plans from different insurers can be compared to provide a clear picture of the possibilities in the market. The plan’s coverage must be your priority. The terms and conditions and the premium are next.
2. You decided against using voluntary deductibles
mandatory and voluntary. The mandatory deductible is fixed. The voluntary deductible is under your control. You can discuss a proportion with your insurance provider. This will increase the cost.
3. You failed to renew on time
If you don’t renew the Bajaj Allianz two-wheeler insurance on time, your No Claim Bonus (NCB) will become zero, and the premium will go up if there is a wait of over 90 days. *Standard T&C Apply
4. You avoided online shopping
Compared to offline equivalents, bike insurance coverage can now be slightly more cost-effective online. This could be because of lower operational expenses, no agent commissions, etc.
5. You purchased more add-ons
You must only choose add-ons that would be beneficial within the insurance time or risk paying more.
6. Your bike lacks an anti-theft device
A bike lock may also bring in a concession on your bike insurance coverage. Some insurance providers offer concessions for this.
7. You do not belong to the Indian Automobile Association
If you are a member of the Western India Automobile Association or Automobile Association of Southern India, your bike insurance provider can offer you a further reduction on insurance payments.
We hope this article helped you with the steps to find the right personal accident cover in bike insurance for you.
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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.