TIPS TO COMPARE ONLINE TWO WHEELER INSURANCE QUOTES

 

Why Compare Bike Insurance Quotes

 

Two Wheeler insurance or bike insurance refers to the plan that protects both the bike and its owner in case of any damages caused due to theft, riots, fire, natural calamities, accidents, or third-party liabilities.

According to Motor Vehicle Act 1988, it is mandatory to buy a third-party two-wheeler insurance policy to run a bike in Indian streets. The important factors to consider when buying bike insurance are benefits and premium amounts. Comparing quotes enables the owner to purchase a suitable policy that fits their budget.

What is Two Wheeler or Bike Insurance

Bike insurance or Two Wheeler Insurance is consent between a bike owner and an insurance provider company. The company promises the owner to cover all the financial crisis caused by the sudden unforeseen damage to the bike. All range of two-wheelers is covered under the insurance policy such as moped, scooter, and motorcycle.

Bike insurance plans are available in three varieties, comprehensive, standalone, and third-party bike insurance. These plans vary based on their coverage. You can choose a plan according to your requirements, but it is essential to renew it before the date of expiry.

Steps to Compare Two Wheeler Insurance Quotes

There are two approaches for two-wheeler insurance quote comparison- online and offline. Opting for an offline can be time-consuming and full of hassles. Whereas the online approach is very reliable and quick. There are important steps for online two-wheeler insurance comparison.

  1. Visit the website of a particular insurance provider or download their mobile application.
  2. Fill in all the information asked by the provider, such as year of manufacturing, model number, year of purchase, previous policy details, etc., of the bike.
  3. Select IDV and reliable add-ons such as Roadside assistance, engine protection, zero depreciation etc.
  4. Check quotes and compare them with other providers’ quotes.

Tips for Two Wheeler Insurance Quotes Comparison 

Premium

Take care of the premium and coverage offered by the particular company while comparing bike insurance quotes. Offering a lower quote doesn't mean that it will fulfil all the requirements. Therefore, it is essential to compare both premium and coverage before choosing any particular insurance policy.

Coverage and Add-ons

The same plan by two insurance providers cannot be similar. Some offer basic coverage, whereas some offer extended coverage. Also, there might be a difference in the add-ons features, they are providing. So compare both coverage and add-ons carefully while comparing the quotes.

Deductibles

Deductibles are part of the repair bill to be borne during the settlement of the claims. Selecting the company offering higher deductibles might reduce the premium but eventually increase the amount to be paid during settlement. So, it is essential to take care of the deductibles before selecting a quote.

Claim Settlement Ratio

It is the ratio between the number of claims received and resolved in a particular year. If the claim ratio is high, the company will settle them effectively.

Check Exclusions

The actual description can be achieved by the coverage and exclusions. It is essential to follow the list of what is included and excluded in your quote. This will help you to decide the effectiveness of the plan.

Garage Network

Cashless facilities are available at the network garage. The insuree will settle the bills directly with the garage. Therefore, a company with a wider network can easily settle the claim.

Why is it Essential to Compare Two Wheeler Insurance Quotes Online?

During this digital era, it is an easy, paperless, quick and seamless approach. Comparison of two quotes online gives the surety to choose the economical and suitable Two Wheeler insurance.

Bike Insurance Premium Calculator

The requirements for bike insurance vary from person to person. The bike insurance premium calculator considers various parameters such as date, purchase, IDV, add-ons to calculate the final amount to be paid.

Make an Informed Decision

Comparison of online insurance quotes gives the flexibility to make informed decisions and not decisions influenced by a salesman or agent.

No Need to Depend on an Agent

You will get direct access to the necessary information such as policies, premiums, benefits etc. There is no need to depend on an agent to collect the required information.

Saves Time

You can access the required information in less time and also from your comfort zone.

How to Select the Suitable Two Wheeler Insurance Policy

Certain beneficial tips on how to select a suitable two-wheeler insurance policy are:

Know Your Coverage Requirements

Before starting the search for bike insurance, it is essential to do the assessment of plans and policies according to your budget and needs. There are two types of bike insurance based on the coverage- comprehensive and third-party cover.

The Cubic Capacity of Bike Decides your Premium

Get the knowledge about the cubic capacity of the bike as it will help to calculate the final premium to be paid. Higher the cubic capacity, the higher the premium.

Understand Insurance Declared Value (IDV)

Insurance declared value refers to the current market value of the bike. It acts as the essential factor to calculate the two-wheeler insurance premium.

Look for Riders to Extend your Insurance Cover

If you want to make your coverage more detailed, you can add more riders to your policy.

Select a Reputed Insurer

Choosing a trustworthy and reputed insurance provider will provide peace of mind and ease of the process.

Two Wheeler Insurance Quote Comparison Online

As we discussed above, bike insurance compare online quotes is the key to selecting an effective insurance plan.

Remember to Read Online Reviews

Reading online reviews and complaints will help to understand the satisfaction of the customers with the insurance company.

Considering the above points will give the surety that whatever policy and the insurance provider you are picking is the most effective one.

Benefits of Buying Two Wheeler Insurance Online

The benefits of buying two-wheeler insurance online are:

  • No more agents
  • Zero paperwork
  • Cost-effective
  • Convenient and time-effective
  • Payment reminders
  • Pay premium online
  • Easy endorsement
  • Soft copy of the document

FAQs

Q. Is buying bike insurance online safe?

Ans. It is easy and safe to buy, renew and compare bike insurance policies online.

Q. Is an online bike insurance policy a valid document?

Ans. Yes, it is valid.

Q. What is long-term two-wheeler insurance?

Ans. It is referred to as a multi-year vehicle policy, the validity of which is 2 to 3 years.

Q. What are the types of claims in a bike insurance policy?

Ans. There are three circumstances to claim a bike insurance policy:

  • If the bike suffers a damage
  • If a third party is hurt or a third party property is damaged,
  • If a bike is lost or stolen
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