Shield your bike with suitable insurance guard…

Owning a bike is the most amazing moment of life. The first ride in rains, show off in college, swiftly moving in snarling traffic with your loved ones or long drives, picnics you remember every bit of the moment in life. When you purchase a new bike there are lot of factors to be considered such as affordability, design, brand value, mileage and other technicality of bike. But just like you aspire to fulfill your dream you should also learn to protect it.

Today, most people in India feel insuring the bike is either the last thing or rather don’t consider at all. The only time when you feel it’s important is when you meet a sudden accident and the damage is done especially to third party. Imagine you bike is damaged and you have to pay to third party for losses as well. It will be a huge financial loss from your pockets leading your emotionally hurt as well. Therefore, it is important you cover your two-wheeler with suitable bike insurance cover.

The article describes some of the ways that we can save the costs on bike cover. But before that let’s understand how two-wheeler rates are determined. The premium rates on bike cover is typically based on factors like age, gender, marital status, driving record, insurance history, bike make and model, year, registration of certification book. These are few of the points that you can consider while choosing your bike cover premium.

Increase Deductible

One of the easiest ways of cutting down your premiums would be increasing your deductible. It is the amount you have to pay out of your own pocket incase of any loss or damage to your machine. So deducting fair amount of percentage from your bike insurance bill should help you lower down your insurance premiums.

No Claim Bonus

These are like rewards that you would receive if you don’t make claims during the term of the insurance policy. The discount usually vary from insurer-to-insurer but you can accumulate anywhere between 20-75% for five claim-free years. It is advisable don’t claim for petty scratches or dents. Instead wait for the amount to get accumulated and then go for reducing premiums or bigger claims.

Tailor Coverage

Depending on your needs, it may be worthy to consider insurance with a lower coverage level such as third party, fire or theft. Check the parking arena, mechanic facilities, safety measures and you can reduce your cover or tailor it according to your specific needs. But always remember to read the policy carefully before purchasing to know the inclusion & exclusions and then tailor your need as per it.

Shop Around

Most people think bike insurance is just an added financial burden by government. They don’t even bother to look around for policies and go for blind purchase as a mandate by government. However, it is wrong. Bike insurance is the best ever financial protection for your machine against uncertainties. Therefore, you should always look around for benefits & features, discount & deals, compare prices, payment procedure, hassle free claim procedure etc. and then go for policy purchase.

Online Comparison

Insurance Companies want their valued customers to be retained. End of the day it’s all about the business. So, it is advisable don’t hesitate to negotiate with them, compare online and make them aware of the other companies deals and offers. If you’re able to bank one with your existing insurance provider you’ll be the happiest person owning the best bike insurance for your vehicle. Online comparison not only helps your time and energy but provide best deals across market under single umbrella. Also, the best time to compare is within a month before the policy expires. This way either you can incorporate your needs or make a swift exit to another insurer without getting uncovered at any point of time. 

[Source:https://bikeinsuranceblog.wordpress.com/2016/05/31/shield-your-bike-with-suitable-insurance-guard/]