If you recently purchased your dream motorcycle, we are sure that you would want to protect it against unforeseen damages along the way. That’s why your dealer must’ve suggested buying a bike insurance policy as well. However, if you didn’t purchase the policy from your dealer and are researching and buying it all by yourself, we are here to help you.
Now, buying the best-in-class bike insurance plan does not necessarily have to be expensive. In fact, you can buy extensive bike insurance coverage at an affordable premium rate if you keep a few things in mind.
We have enlisted a few things that will save you a fortune and reduce your bike insurance premiums. Here, take a look!
- Choose the right motorcycle
Many of you may not have any choice at the moment, as you’ve already purchased your dream motorcycle and are looking for a bike insurance plan. However, those who are yet to buy a bike should make sure that it is a high performing vehicle with the latest technology.
But you also have to understand that high-tech motorcycles are expensive and so will their insurance premiums be. So, buy a bike that fulfils your requirements and gives a best-in-class performance, especially on the Indian roads.
- Ride safely
Cautious riding skills are highly underrated in India. What people don’t understand is, most insurers consider your riding history before issuing the bike insurance plan. So, if you are a negligent rider and often violate the traffic rules, then your bike insurance premiums will be high. On the other hand, safe riding and following the traffic rules will help you save on your insurance premium. Therefore, be mindful when riding your bike!
- Do not raise claims for small damages
Most people tend to raise claim requests on small scratches and damages, only because they have an insurance plan to cover the expenses incurred. However, don’t do that. If you can take care of the damage repair expense from your pocket, then do so.
Because when you make small and unnecessary claims on your bike insurance policy, you lose out on the No Claim Bonus (NCB) rewards. NCB is awarded to people for a claim-free year. The benefit can be used to avail discounts on premiums at the time of policy renewal.
- Install anti-theft devices
Whether you live in a theft-prone area or not, installing safety devices on your motorcycle will increase its security. It eventually reduces your bike insurance premiums as the insurer feels that your vehicle has maximum security against theft. Also, the anti-theft devices keep your dream motorcycle safe at all times against vehicle robbery.
To Sum It Up
So, before you proceed to buy a bike insurance plan in India, make sure you are aware of these things. Besides, if you are concerned about the cost of the policy, use the bike insurance calculator to determine the same. The tool will calculate the premium amount charged on your desired coverage and add-on benefits. That way, you will be able to make an informed decision when buying bike insurance.