Tips for Choosing the Best Two Wheeler Insurance Policy
Two wheeler insurance have been made mandatory by the law of the country for every bike-owner to ensure your safety on the road. However, choosing the perfect insurance for your two-wheeler has become a tough job owing to the myriad plans that are being offered by so many insurance companies in the country. Expenditure on the policy might be your major concern and you might be looking for cheaper ones, but in the process you might have to compromise on some necessary coverages to keep the cost low. Similarly, if your bike is a high-end one, you might need vast coverage which can increase the cost manifold.
Online web aggregators like Policybachat.com was introduced in the market to help bike owners get over this state of confusion while looking for a good two-wheeler insurance policy. These sites enable you to find out the rates, additional benefits and coverages of various policies under one roof, compare them and choose the best.
BEST WAYS TO GET THE PERFECT TWO-WHEELER INSURANCE
Have a clear idea of your requirements: Before you start looking for insurance for your bike, you need to be clear about your requirements, the minimum coverage required by the state law and so on. This will make the hunt for the insurance of your choice easier. The quotes displayed by a comparison site depend mainly on these factors.
Do not base your decision only on price or discounts: Price is not the only factor that determines good two-wheeler insurance. Often necessary coverages are compromised by many insurance providers in an attempt to keep the price low. Also, carriers offering the maximum discounts need not be the cheapest as their original rates may be higher than others. The affordability of a policy must be decided by comparing the final price after deducting the discounts.
Find the right carrier: Buying a two-wheeler insurance means investing a lot of your hard-earned money for your safety and mental peace. Hence it is very important to find out the financial stability of an insurance provider to make sure that it will not be declining your emergency claim due to lack of funds. A company with a high claim settlement ratio is always a more advisable choice.
Check for licenses: Make sure you buy your two-wheeler insurance from a licensed insurance company to make sure your purpose will be satisfied during emergencies.
Always try to compare and buy online: Two-wheeler insurance policies can be bought by two ways- directly from company through agents or through online aggregators. The biggest disadvantage of buying a policy from agents is that their main aim is to sell a policy from their company rather than focusing on the profit and requirements of the client. Also, purchasing policy from agents increases the cost as it also involves agent’s commission. Hence, it is always preferable to buy a policy online through a web aggregator where you can compare quotes from various carriers and choose the one that suits your needs and budget.