There is nothing better than riding your bike and feeling the wind blow through your hair. It makes the drives adventurous and more fun. However, riding a bike on Indian roads filled with pedestrians, fellow drivers and varying conditions can add potential risks to you and your beloved bike.
Thus, to protect your beloved two-wheeler, choosing the right bike insurance with the right coverage option is crucial. Here are some tips and tricks for securing the best full coverage bike insurance in India.
5 Tips for Securing the Best Bike Cover in India
Whether you are a first-time bike owner or a pro rider, these tips will help you navigate the process and get the best bike cover in the market:
1. Assess Your Needs
Bike insurance premiums depend on several factors, such as the type of insurance, the make and model of your bike, choice of add-ons, etc. So, before you choose a plan for your bike, assess the needs to get the optimum coverage.
For example, if you are looking for an insurance plan for an old bike with minimum usage, third party bike insurance can suffice your needs and meet the legal requirements. On the other hand, if you have a new bike with high usage, you can opt for full-coverage motorcycle insurance.
2. Choosing the Right Add-Ons
If you want to enhance your bike’s security and add more perils to the standard list of inclusions, add-ons are the best options. While you secure a bike insurance cover, look for the availability of add-ons that add value to the cover and a layer of financial protection.
These can include zero depreciation bike insurance, additional third-party property damage cover, consumables expenses, return-to-invoice cover, etc.
3. Understanding IDV
Insured Declared Value, or IDV, is one of the most crucial aspects of any motor insurance policy. It helps you determine the amount you need to set as the sum insured, which is compensated in case your bike is stolen or incurs significant damage.
The IDV is usually determined by the insurance providers based on the bike’s current market value, which decreases with passing years. Thus, if you know your bike’s IDV, you can negotiate for a better premium price.
4. Compare 2-Wheeler Insurance Coverage Online
Once you have the points of coverage and budget set for your bike insurance premium, compare the coverage online along with its costs. Ensure that your chosen plan offers the highest bike insurance coverage at an affordable price.
5. Check the Insurer’s Reliability Online
While you compare features and premium costs, it is also important to compare the reliability and trustworthiness of the bike insurance cover provider. For this, you can check the reviews from existing customers on the after-sales services and claim settlement by the insurer.
To avoid inconvenience, choose a provider that offers hassle-free online buying and claim processing and minimal documentation. Along with that, also ensure that the insurance provider offers cashless garage facilities.
Conclusion
Choosing the right bike insurance cover is essential to protect your bike and yourself from damages incurred due to unforeseen situations. To secure a good insurance policy, follow these 5 easy tips and benefit from the financial security it offers. It will also ease your financial burden and relieve mental stress, letting you enjoy your rides with peace of mind.
