Mistakes to Avoid When Buy Two Wheeler Insurance
Buying a two-wheeler insurance policy in india is quite simple. But you still need to be careful so that you get the right cover at the right two wheeler insurance premium.
Buying a two-wheeler insurance policy in India is quite simple. But you still need to be careful so that you get the right cover at the right premium. To ensure that you opt for the most suitable two-wheeler insurance policy, you need to stay away from making some common errors.
Here is a list of some common mistakes that you must avoid in order to find a reliable two-wheeler insurance policy that offers financial protection in case of unfortunate events:
1. Not Doing Enough Research
You may end up buying an expensive two-wheeler insurance policy if you do not do enough research and analyse about several suitable policies in the market. Exploring different two-wheeler insurance policies is important because it makes you aware of different plans, their coverage features, premiums, etc. and helps you choose an affordable policy with similar benefits. Thus, the step should not be skipped.
Also Read: Bike Insurance Details by Registration Number
2. Looking for a Cheaper Policy
Choosing a two-wheeler insurance policy only on the basis of low premium is another common mistake that people make when buying a two-wheeler insurance policy online. Price is, of course, an important factor to consider, but you can not decide for a policy solely on its basis. This is because many times, a two-wheeler insurance policy with low premium does not offer coverage against huge damages for your two-wheeler due to which you may end up paying for the losses out of your own pocket.
3. Not Choosing the Right Insured Declared Value
Insured Declared Value or IDV is the current market worth of your two-wheeler. When choosing the IDV for your two-wheeler, you might want to go for a lesser amount as lesser IDV means lesser premium to be paid. But this is not the right approach as IDV is the amount that you will receive in case of total loss or theft of the two-wheeler. So, choose the right IDV so that you are covered in case of any mishap.
Also Read: Fine for Driving Two Wheeler Without Insurance
4. Not Reading the Terms and Conditions of the Policy
It is important to know the terms and conditions under your two-wheeler insurance policy so that you do not face any hassle at the time of claim settlement. So, keep yourself informed about the inclusions, exclusions and other policy terms to be able to use the policy benefits in future.
5. Letting Your Policy Get Lapsed
If you let your two-wheeler insurance policy expire, then you will lose out on the No Claim Bonus (NCB). So, it is always good to practice the habit of paying two-wheeler insurance premiums on time. It not only helps you avail the accumulated benefits, if any, as well as fulfil the legal obligation to ride on the Indian roads.
Also Read: How to Get Duplicate Two Wheeler Insurance Copy Online
Conclusion
You can easily rectify the common mistakes mentioned above by being more vigilant about the policy details as well as its terms and conditions. To be able to buy the most suitable two-wheeler insurance policy online, you can use the two-wheeler insurance premium calculator at InsuranceDekho and compare and analyse several suitable policies to shortlist the most affordable one for your two-wheeler.
Types of Bike Insurance You Should Know:
Third Party Two Wheeler Insurance
Comprehensive Two Wheeler Insurance Policy
You May Also Like To Read:
Own Damage Two Wheeler Insurance
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.
