Looking for an easy way to compare two wheeler insurance rates online? Comparing two wheeler insurance rates online is a difficult task as you either have to go from company to company or search for each of them on Google.
But with the advent of the Internet, it has become easier for us to check out the quotes and buy the policy online. In this article, we will talk about how you can compare two wheeler insurance rates online and what are some important points that you should keep in mind while buying your two wheeler insurance policy.
Riding a two-wheeler without getting insurance for a bike can not only make you go against the law of the country but also can blow a hole in your pocket in times of road mishaps. Irrespective of the growing awareness about the importance of comparing bike insurance online and also how easy it is to get online insurance for bikes, still a huge number of bikers ride on the road without valid insurance for bikes. You can log in for more information about online bike insurance.
The reason for ignorance towards bike insurance is mostly owing to their busy schedule that does not allow them to run to various bike insurance India offices for quotes or because they want to avoid the hassles of vehicle inspection, etc. Keeping these factors in mind, some bike insurance India companies have started the system of online insurance for two-wheelers. Online two wheeler insurance plan enable bike owners to ensure their two-wheelers without physically visiting insurance companies or meeting bike insurance agents.
The same process is applicable for bike insurance renewal. Bike owners often miss out on renewing their bike insurance in India leading to the lapse in their policies. The facility for online insurance for bikes has helped solve this problem to a great extent. The option of online bike insurance renewal has waived off the hassle of pre-inspection, which in turn has increased the number of insurance for bikes getting renewed.
Why Bike Insurance?
In the era of budget gyms and high-end coffee, not having a car can be a blessing in disguise. But if you live in a city where public transport is unreliable or unaffordable, owning a two wheeler is essential. In such scenarios, it's important to buy two wheeler insurance to protect your investment. The best two wheeler insurance policies are available in India for you to choose from based on your needs and budget.
Though purchase and compare bike insurance renewal has become simple and hassle-free with the advent of online insurance, there are certain things you should be very careful about while purchasing online insurance for bikes. Reading the fine print is a must before purchasing bike insurance, especially if you are getting online insurance.
For example, you must check the date of inception of the new bike insurance India policy, especially if you are taking online insurance without inspection. Generally, the risk inception date starts 90 days after the day of the issuance of the policy.
On a final note, we can say that though there is always the option of physically exploring each and every bike insurance policy available in the bike insurance India market and purchasing it through agents that includes the payment of commissions, purchasing or renewing insurance for bikes online is anytime simpler, cheaper and less time-consuming.
Online insurance web aggregator PolicyBachat not only helps you purchase the bike insurance policy of your choice but also assists you in comparing all available policies and getting the most suitable deal. If you want to know more about the process of purchasing or renewing bike insurance online, contact their motor insurance experts on their toll-free number 1800 123 4003 or chat with them at PolicyBachat.
How to Choose an Affordable and Reliable Bike Insurance Policy for You?
The various aspects that you need to consider while choosing bike insurance.
- Own Damage Cover
- Third-Party Cover
- Personal Accident Cover
- Add-ons
- No Claim Bonus (NCB)
What is covered in a Standard Bike Insurance Policy?
Understanding Your Bike Insurance Coverage Options
- Third-Party Injuries
- Third Party Disability
- Third Party Death occurred due to natural calamities
- Third Party Property Damage
- Accidents
Cheap and Best Price for Two Wheeler Insurance:
The cost varies from Rs. 200 to Rs. 45,000 depending on the vehicle, company, and plan chosen by the bike owner.
Purchasing the Right Coverage For You at a Price You Can Afford:
You might be wondering whether or not you should buy insurance for your bike if you already have car insurance. The answer is yes! Bike insurance is important because even if you’re very careful accidents happen on the road all the time!
No one loves going to the insurance office to get an insurance policy. It’s a lot more pleasant to get bike insurance online. You can do it in your own time, and if you need help you can ask the Policybachat expert for assistance and we have a number of network garages with cashless facility.
Bike Insurance Policy Add-on Covers:
Availing third-party insurance might protect you from traffic regulations but not covered at the time of the accident. A comprehensive insurance plan with the required add on the cover will provide you optimum coverage benefits. Here, some add-ons that help you to avail most out of two wheeler insurance policy.
Comprehensive insurance policy
Carriers highlight add-ons along with the comprehensive insurance policy for extensive coverage at the time of claim settlement ratio. Basic add-ons like zero depreciation, passenger cover, medical cover, personal accident cover, etc. are used, but there are also compare bike insurance premium add-ons that benefit the policyholder at the time of claim.
The policyholder should choose the premium add-ons depending on factors like
- How likely to the two-wheeler met with accidents
- History of the vehicle model prone to mishap
- Is the damage cost is high in that vehicle
Passenger cover
The policyholder covers for a claim amount in case of a mishap if he chooses a comprehensive two-wheeler insurance policy, but what about the co-passenger? He is not eligible for coverage. Passenger cover helps to get the coverage for the co-passenger; this is secured against your loved one.
Return to Invoice cover
Return to Invoice is an add-on option that covers the gap between the insured declared value idv and the invoice value of your bike along with the registration and other applicable taxes.
Medical claim
In case of a mishap, fetching for hospital charges is enormous; this reason makes you include the medical policy in your two-wheeler insurance online. A policyholder can claim for the medical bills, hospital charges, and medicines for a specific period.
Zero depreciation cover
For instance; in case of a mishap a policyholder opts for a claim the coverage is calculated by deducting the depreciation value of the spare parts, accessories will be covered. The remaining amount is to be borne by the policyholder if you have zero depreciation cover the whole amount of damaged parts are covered by the carrier.
Accessories cover
If your vehicle is premium and opts for the fancy accessories to your vehicle, you should prefer the accessories cover. While buying accessories coverage you should be genuine to provide the exact value of the parts to get you a hassle-free claim. Don’t undervalue the accessories, this impacts you at the time of claim.
Get the recommended add-ons cover includes and compare two wheeler insurance policies for hassle-free claims in case of any mishap. Purchase a comprehensive two-wheeler insurance policy with a specified add-on could get the cream off the crop at the time of claim settlement. A policyholder should include the add-ons in his sports bike insurance renewal policy.
You might be thinking that online bike insurance costs more, but do you know that the final premium rates can be reduced by adopting some golden methods.
- Pick the best motorbike insurance cover
In addition to Third party insurance cover, bike insurance online issues comprehensive coverage which protects you wholly not specifically limited to third party accidents. It might be costly but it is many times better than third party liabilities coverage.
- Boost the excess
You can increase the voluntary payment which saves your insured value, but be sure to limit at a marginal extent while hiking your voluntary investment.
- Carefully choose your bike High-performance bikes need higher coverages which means higher premiums. If you are a regular commuter choose your bike wisely.
- Minimize the modifications
The premiums are higher to modified bikes, so be sure to keep your modifications minimum to reduce the insurance of bike premiums.
- Ride fewer miles
The more you ride the more likely your bike can get damaged. Limit your long distance traveling for another transport mode.
- Ride safely
There is an additional bonus given to the insured drivers who are safe and have no accident history. The bike insurance companies pay an appreciation bonus for safe driving skills.
- Secure your motorbike
If your bike is stolen or vandalized you are in need of a claim, which reduces the chance of an NCB bonus for the succeeding year. So keep your bike safe.
- Limit the number of claims
No claims in the policy period, then you can likely receive a No Claim Bonus from bike insurance companies. This bonus will be added to the next policy period and reduce the premium amount.
Things to remember while comparing two-wheeler insurance
Premium
While comparing premium, pay attention to the covers that they offer. Company X might have the lowest quote; however, it may not meet all your requirements. So, it is important to compare both coverage and premium before you make the final decision.
Coverage & add-ons
No two plans can be the same. Some give you a basic cover, while others have extended coverage. Also, there are add-ons to enhance your insurance plan. Keep in mind the coverage and the add-on covers that suit your needs.
Deductibles
It is the portion of the repair bill you have to bear while settling claims. You can choose higher deductibles, which will reduce premium but will increase the payable amount during settlement. Hence, compare the deductibles before buying the insurance.
Claim Settlement Ratio (CSR)
Claim settlement ratio is the ratio between the number of claims received and the number of claims resolved in a financial year. The higher the claim ratio, the better the ability of the insurance company to settle claims.
Check exclusions
The real details lie in the policy coverage and exclusions. It is important to go through the list of what’s included and what’s not included in your two-wheeler insurance policy. These can give you an idea whether the insurance plan is worth it.
Garage network
At the network garage, cashless facilities are available. Meaning, the insurance company will settle the bills directly with the garage. Hence, the wider the network, the better access to these garages to experience a cashless facility.
How to Choose Two Wheeler Insurance Policy?
Buying a two wheeler insurance policy needs thorough research. In order to shortlist the most suitable bike insurance policy, you must evaluate your requirements and compare several bike insurance plans online. Here are other tips that you can follow to choose a bike insurance policy according to your budget and requirements:
1. Know Your Coverage Requirements - Assess your requirements and budget so that you can choose between different types of bike insurance plans that suit you the best. When assessing your requirements, you must consider different factors such as usage of your two wheeler, your expenditure, liabilities, etc.
2. Choose Add-ons Wisely - Riders or add-ons allow you to enhance the coverage of your bike insurance policy. But as you are required to pay an extra premium for it, therefore, you include the ones that you actually need. Common add-on covers in two wheeler insurance are zero depreciation cover, personal accident cover for pillion riders, and towing cover.
3. Choose a Reliable Insurance Company - Checking the claim settlement ratio is of utmost importance when choosing a trustworthy bike insurance company online. It ensures that the claim settlement is hassle-free.
4. Compare Two Wheeler Insurance Plans Online - It is important to compare different bike insurance policies online in order to make the best buying decision. You can compare different plans on the basis of inclusions, exclusions, premiums, etc.5. Read Online Reviews: Reading reviews online of verified customers who have bought bike insurance policies will help you decide if you are going for the right two wheeler insurance policy or not. Therefore, it is recommended to read positive as well as negative comments online so that you can decide what is best for you.
5. Bike’s engine cubic capacity- It is important to learn about your bike’s engine cubic capacity (cc) as it is one of the main aspects used to calculate the insurance premium. The higher the cc, the higher the premium and vice-a-versa.
6. Know the Insured Declared Value- (IDV) IDV is the sum assured in case of a total loss or theft. As the bike ages, IDV declines due to wear and tear, which decreases the premium amount? The higher the IDV, the higher the premium.
Why is it important to compare bike insurance online?
Comparing Two-wheeler insurance online ensures that you get the required coverage at an economical premium.
Saves time: You can learn about different coverages, benefits, the premium payable, exclusions, and factors influencing the premium amount from the comfort of your home. Comparing bike insurance online allows you to select a plan that best suits your needs.
Don’t have to depend on an agent: By comparing bike insurance online, you have direct access to information such as insurance policies, benefits, premium, and many more. You do not have to depend on an agent to provide this information to you.
Make an informed decision: Instead of being influenced by an insurance agent or salesman, comparing insurance online offers more options. By comparing online, you can make an informed and unbiased decision while buying a bike insurance policy.
Bike insurance premium calculator: Bike insurance needs vary from one person to another. With a bike insurance premium calculator, you can consider different parameters (add-ons, IDV, purchase date, etc.) to get an idea about the payable premium.
How to Buy Bike Insurance Online?
It will take less than 5 minutes to buy a bike Insurance policy. You can buy a bike insurance policy online by visiting our website. We provide several Bike insurance policy premium quotes offered by different insurers from which you can choose one that suits your needs and budget.
As a bike rider, you can easily buy insurance online:-
- Go to the form on the top of the page
- Fill up the details of your bike such as RTO, model, engine capacity, fuel type, etc.
- Provide your contact details including your name, email id, etc.
- Choose the best insurance for a bike as per your requirements
- Pay the insurance price online via net banking or bank debit/credit cards
Bike Insurance Renewal Process:
The two wheeler insurance renewal process has been made simple with PolicyBachat online portal car Insurance where the process is quite simple. Below is the process to renew your bike insurance online. You can get Instant Quotes for Two Wheeler Insurance Policy at PolicyBachat.
- Visit the PolicyBachat website and select the ‘Bike’ tab.
- Select your ‘Two Wheeler’.
- Select your ‘Two-Wheeler Variant’.
- Select your ‘RTO Location’.
- Enter ‘Registration Number’.
- Then click on ‘Start Saving Money.
- Premium Quotes of the top two wheeler insurance plans will be displayed as per data entered by you and which are suits your requirement.
- Select required add-ons, third party coverage and you can edit IDV for your Bike.
- Purchase best two wheeler insurance policy using online payment
- If any queries are raised call: 1800–123–4003.
Select the best insurance company as per your requirements and proceed to the payment page. The instant policy would be available after the payment is completed.
On a final note, Bike insurance is a saver. It benefits you with the bike insurance coverage plans and restricts your unnecessary and sudden financial burdens. Choose the best online bike insurance India Policy or get the best bike insurance renewal policy for your bike and save yourself from unforeseen expenses. To buy the best online bike insurance India policy visit PolicyBachat.
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