What factors influences Bike Insurance costs?

by Radhika Adsule Financial Expert

Before buying a two-wheeler, people seek advice and do some research. They try to find details like features, cost, the manufacturer, etc., comparing different alternatives and then zero down to a few appropriate options. When they buy it, you need to register it at the Regional Transport Office. It is then they realise that they need to buy Bike Insurance to complete registration.

You ignore the Insurance and do not give a second thought about it. Ideally, it is wise to research, compare, and buy Two Wheeler Insurance. Sometimes, you do not require any assistance to buy one. There are many facets to buying Insurance. It must offer sufficient financial protection and be within your budget. For the right balance, be aware of the basics of online Bike Insurance. 

What affects the Insurance coverage, and why does the cost differ?

Model

Every model comes with different Insurance. Similarly, the premiums may differ too. For example, if two brothers have bikes, one owns Bajaj NS 200 and Bajaj RS 200. Both pay different premiums towards their Insurance. This is because the cost of the motorbike is different.

Age

As you age, your bike ages as well. In the motor industry, the value declines with time unless it is a vintage model. This decrease in value brings down the cost of your 2-Wheeler Insurance.

Engine

The engine is the heart of a bike. The more you look after it, the more it stays in healthy condition. When you buy a comprehensive policy, one of the factors for evaluating the premium amount depends on the engine’s cubic capacity. The cost is higher for those with higher cc.

Why buy online?

Nowadays, the online world plays an essential role in the lives of people. Almost all tasks like shopping, communication, etc., get done online. Thus, insurance providers have also made policies available online.

Buying online Bike Insurance has its benefits. When you buy Insurance online, you can compare policies for their features, services, and cost. You also get extra discounts while buying online because operational costs are less than their offline counterparts. Thus, buying a Two-Wheeler Policy online is more profitable than buying the same offline.

Sponsor Ads

• Ad Space Available - Rent it Now!

Created on Nov 17th 2021 00:20. Viewed 159 times.

Comments