4 Simple Ways to Lower Your Two-Wheeler Insurance Premium
In India, you may end up paying for penalties if you are
riding a two wheeler without having a bike insurance policy bought alongside;
it is mandatory by law to have third party two wheeler insurance at the very
least. That said, people who understand the value of buying two wheeler insurance usually buy a
comprehensive plan, and not just third party liability insurance. In case of an
unfortunate road accident, a two wheeler owner would end up paying for
expensive repair work himself if he did not have a motor insurance policy
already bought in place. That is why having the right two wheeler insurance policy
is imperative. If cost is the reason behind delaying to buy a plan, it is also
possible to lower the cost of bike insurance premium in simple ways.
Given below are a few ways to reduce the premium for a
bike insurance plan:
1.
Buy
a long-term two wheeler Insurance Plan
You know all too well that you will need to renew the bike
insurance every year for sure if you have bought a one year plan. In comparison,
buying bike insurance for a longer term of 2-3 years at a time will help you
save money in the long run. Renowned insurance providers aim to benefit their
customers by offering long term motor insurance plans at comparatively lower
rates than the regular one year plans.
2.
Never
Delay Renewing your Bike Insurance Policy
Renewing the two
wheeler insurance policy you have bought for your bike in a timely manner is
more like a responsibility of the bike owner. For those who fail to renew their
two wheeler insurance, the coverage might be affected. So, if an unfortunate
accident or similar other situation would occur post the date of bike insurance
renewal, he will not be able to get the expected insurance coverage.
3.
Avoiding
Claiming Insurance Benefits for Small Dents and Scratches
When you have a bike you ride regularly, you can expect
smaller functional issues or even dents to occur at any time. Claiming
insurance coverage for each and every repair work covered by the bike insurance
plan will take away your NCB or No Claim Bonus benefit at the time of next
renewal. As a matter of fact, most of the bike insurance providers offer 10 to
20 per cent discount on policy renewal if you have not asked for any claims
during the term of insurance.
4.
Buy
Bike Insurance Policy Online
When you prefer to a buy a two-wheeler insurance plan from local agents of renowned insurance companies, the companies are paying those agents as well in between. By buying and renewing bike insurance online, you can get insurance quotes at comparatively lower premiums.
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