How to Buy Two Wheeler Insurance Online Smartly

Updated Oct 12, 2020

Things to avoid being fooled at the time of buying bike insurance?

When you plan to buy a bike, apart from thinking about which bike you want, planning about bike insurance becomes necessary. The first reason is the statutory obligation of a third party insurance policy and the second one is to stay protected against the uncertainties of the road. Getting bike insurance is very easy since multiple insurance providers offer an array of bike insurance policies. You can get your bike insured in the traditional way by visiting an insurer or opt for the online process. However, just like buying bike insurance, you can get fooled while buying bike insurance easily. Here are some ways to avoid that.

Know Your Requirement

Before you approach any insurer, be clear about what coverage you want from your bike insurance policy. A third party bike insurance policy provides coverage for third party liabilities only, while a comprehensive bike insurance policy will cover your vehicle along with third party liabilities. Note that driving a bike without a third party insurance policy is illegal. Hence, having the third party liability cover is a must. If you aim to abide by the law only, go for the third party policy. However, if you want maximum protection, opt for the comprehensive plan.

Make A Budget And Stick To It

Any insurer will advise you to go for the comprehensive bike insurance policy as it provides maximum coverage. The comprehensive policy is more expensive than third party insurance policy since it provides more coverage. It is wise to make a budget for an insurance policy before you make the purchase. If you do not have the budget, do not go for the comprehensive one.

Do Proper Research

There are multiple insurance policies available with various features. To find the best suit for your bike, you must go through all your options. Compare the policies available based on their premiums, features, add-ons and so on. Check the claim settlement ratio of the insurer you want to select. A high ratio means the insurer has a good record of settling claims and vice versa. Review their customer care services as well.

Take Only The Necessary Add-ons

A comprehensive plan allows you to widen the coverage with bike add-on covers. There are plenty of options to choose from and all has great benefits. Do not forget that each add-on has a price. The more add-ons you take, the more expensive your insurance policy becomes. Have a look at the add-ons your insurer is providing and select only those you feel necessary for you.

Opt For The Online Process

Purchasing an insurance policy online has many benefits. It takes less time and you can get discounts as well. Furthermore, this method can help you in making the correct decision without getting fooled by any insurer or agent. You can do all your research and make a decision based on your requirement without getting influenced.

Next time you need to buy bike insurance or you go to renew an existing policy, keep the aforesaid things in mind and buy what you need.