How to choose the right Bike Insurance in 2020?

How to choose the right Bike Insurance in 2020?

The bike is one of the popular modes of transport preferred by commuters in India. It is due to the reason that it allows the rider to feel the air, the surroundings, and the connection to the road, which is incomparable to a car. 

When buying a two-wheeler, we are more conscious of certain factors like the price, design, mileage, etc. In the same way, purchasing the right insurance for your bike is of utmost importance. An insurance policy protects the vehicle for the damages caused due to accidents and thefts. An insufficient insurance cover is as good as having no insurance. In general, the insurance policy should give comprehensive coverage in cases of theft, damage, and loss of the vehicle. In general, the insurance policy should give comprehensive coverage in cases of theft, damage, and loss of the vehicle. Whereas in some cases, risk to your life is also a crucial factor to be considered and getting permanent life insurance is the utmost need.

Selecting an appropriate policy seems to be a tedious task. Consider the following factors that will help you in choosing the right insurance policy.

1- Know your budget and requirements

Assess your requirements and budget before opting to buy any insurance policy for your vehicle. Based on the expenditures and the benefits you want to avail, you can choose for the third party insurance cover or a comprehensive cover.

2- Research

Technology and the internet are the two widely used aids to gain information from all walks of life. Browse through the various options available for insurance companies that offer a reliable insurance policy for your bike.

Get in touch with people who have their bikes insured from an insurance company and gain an insight into the working, reputation, and the time it takes to process and settle claims.

3- Online reviews

Still confused! You can also take the help of the customer ratings or online reviews written by verified customers, who share their experiences with the insurance company. You will also get an idea about the overall quality of service a company provides to its customers.

4- Choose a reputed insurance provider

The claim settlement process is a tedious task. Hence choose a reputed/ trustworthy insurance company that offers extensive coverage in insurance policies.

5- Keep yourself informed about your bike’s cubic capacity.

Remember! The cubic capacity of your bike decides the premium that you are going to pay. The higher the cubic city, your premium will also be at a more upper side.

6- Compare bike insurance online

After arriving at a handful of bike insurance companies, compare their insurance plans based on costs, inclusions, exclusions, add-ons, and many more. Check for the different policies offered by the same as well as by various companies and compare their prices and benefits.

When buying an insurance policy, consider the following factors:

1- Online facility for policy issuance and renewal

2- Premium

3- Network garages

4- Personal Accident Cover

5- Incurred Claim Ratio

6- Policy term

7- No Claim Bonus.

8- Add-on features

9- Customer support

10- Discounts and other benefits

11- Claim settlement ratio

Tom Spiggle
ADMINISTRATOR
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