If biking is your passion and your new vehicle a prized possession that you are extremely proud of, then it is your duty to protect it and yourself against any unforeseen incident by covering it with bike insurance. Riding a two-wheeler without getting insurance for a bike can not only make you go against the law of the country but also can blow a hole in your pocket in times of road mishaps.
Irrespective of the growing awareness about the importance of bike insurance and also how easy it is to get online insurance for bike, still a huge number of bikers ride on the road without valid insurance for bike. You can login for more information about online bike insurance.
The reason for ignorance towards bike insurance is mostly owing to their busy schedule that does not allow them to run to various bike insurance India offices for quotes or because they want to avoid the hassles of vehicle inspection, etc. Keeping these factors in mind, some bike insurance India companies have started the system of online insurance for two-wheelers. Online bike insurance enables bike owners to ensure their two-wheelers without physically visiting insurance companies or meeting bike insurance agents.
The same process is applicable for bike insurance renewal. Bike owners often miss out on renewing their bike insurance in India leading to the lapse in their policies. The facility for online insurance for bikes has helped solve this problem to a great extent. The option of online bike insurance renewal has waived off the hassle of pre-inspection, which in turn has increased the number of insurance for bike getting renewed.
Though purchase and renewal of bike insurance have become simple and hassle-free with the advent of online insurance, yet there are certain things you should be very careful about while purchasing online insurance for bike. Reading the fine print is a must before purchasing bike insurance, especially if you are getting online insurance. For example, you must check the date of inception of the new bike insurance online India policy, especially if you are taking online insurance without inspection. Generally, the risk inception date starts a few days after the day of the issuance of the policy.
On a final note, we can say that though there is always the option of physically exploring each and every bike insurance policy available in the bike insurance India market and purchasing it through agents that includes the payment of commissions, purchasing or renewing insurance for bike online is anytime simpler, cheaper and less time-consuming.
Where to Get Bike Insurance Online?
Due to high traffic in India maintaining cars has been hectic, people are interested to buy two-wheeler regardless of their status. An owing bike can skip from heavy traffic, less parking space needed, save your time and fuel. Just like a car, bike insurance also has comprehensive insurance with an add-on for the extensive customers.
As riding a premium bike like Harley Davidson, Triumph, Ducati has become a status symbol for youth just like BMW, Benz, Audi, etc. They also need the right policy, buying a bike insurance online is the right choice, but the actual question arises where to buy the best bike insurance online? Can we buy bike insurance online?
First, compare the bike insurance quotes before buying the policy, PolicyBachat is the right insurance comparison website for buying two wheeler insurance online. Get quotes; know the benefits availing from each carrier and choose the policy.
Then Your need defines your policy. How do you use your vehicle? Is it for personal use, office use, or for any long drives! This makes sense to choose the policy, normally a comprehensive two wheeler insurance online policy is enough for the coverage. But, if a driver uses his vehicle for long drives, frequent business & personal activities he requires few add-ons in case of unfortunates. Be wise and cautious to select the right policy by factoring future unfortunates into account.
Types of Bike Insurance Online Policies
Third-party Bike Insurance Policy:
Third-party insurance is the basic plan mandated by the Government of India to secure the third party affected in an accident. Third-party bike insurance is a compulsory requirement to ride a bike in India. It is also known as the third party liabilities-only policy which covers bodily injuries, temporary or permanent disability, and death of the third party person due to an accident or third party damages due to accident, the mishap with the involvement of the insured’s bike.
Comprehensive Bike Insurance Policy:
Get coverage for the third party along with personal damage coverage in a comprehensive policy, this policy is a protection against all odds in case of a mishap. It is recommended to get add-ons packs for extensive coverage. This policy protects your bike against damages due to an accident, fire, theft, man-made disasters, natural calamities, self-ignition, explosion, and so on. You can also enhance coverage by paying an additional premium to purchase add on covers like zero depreciation cover, roadside assistance cover, engine cover, etc.
Factors that Affect Bike Insurance Premium:
- Insured declared value idv:
Higher the IDV; higher the premium, don’t decrease the Insured Declared Value which in turn impacts on your coverage. Be fair while valuing the factual value of the vehicle to bind legally for a rightful claim.
- Deductible:
The deductible is an amount of money that a policyholder agrees to pay at the time of claim, this impacts your insurance premium. An increase in deductible will lower your premium amount, make your deductible moderate to avoid the risk for higher claim amount settlement by a policyholder.
- Accessories:
Extra accessories fitted to your vehicle either for enhancing the performance or the exterior look should be properly disclosed in the insurance document for the accessories claim. Your negligence for a proper disclosure will impact you at the time of claim.
- Coverage:
There are different types of two-wheelers and insurances for the different bikes available in India. They are providing different premium prices. The comprehensive bike insurance policy offers high coverage and premium as compared to other two-wheeler insurance policies
- Anti-theft devices & AAA membership:
The most important factor which influences the premium of your two-wheeler bike is the installation of an Anti-theft device and AAA membership. Anti-theft devices such as Burglar alarms and GPS devices installed in a bike reduce the chances of the bikes getting stolen and also increase the chances of recovery thereby reducing the total loss ratio of insurance companies. Automobile Association of India membership also reduces the premium to be paid by the customer.
- Add-ons:
Add-ons or riders are the extra coverage offered by the insurance companies to your two wheeler bike on payment of extra premium. The add-ons are available in the online two wheeler insurance premium calculator and the premium increases or decreases on the basis of the add-ons opted. Add-ons such as Bumper to bumper or nil depreciation or zero depreciation, Consumables cover, Engine and Tyre cover, Key replacement cover, etc. are the most common add-ons available in the two wheeler insurance policy.
- No Claim Bonus:
No claim bonus (NCB) is the discount offered by the insurance companies on their own damage premium for not making any claims in the previous year's policy period. Basically, it is a reward in the form of an extra discount which is offered to the owner/driver of the two-wheeler bike for not making any claims in the previous year. Higher the no claim bonus on your bike lower would be your own-damage premium. No claim bonus is offered at the time of renewal of your bike insurance and it ranges from 0% to 50% in 5 years. If any claim is made in any year, the no claim bonus would be reduced to 0% in the subsequent year and the cycle repeats again. The no-claim bonus is used to calculate your bike insurance premium using the online two wheeler insurance premium calculator.
How to Get Bike Insurance Online?
As you are buying the first bike insurance online policy, you had an idea of what are the factors that need to be considered while deciding the right bike insurance online policy. Get the quotes in 2 simple steps from Policybachat.com and go ahead in renewing the comprehensive bike insurance policy for hassle-free claim settlement. You can get Instant Quotes for Two Wheeler Insurance Policy at Policybachat.
- Visit the Policybachat website and select the ‘Bike’ tab.
- Select your 'Bike'.
- Select your ‘Two-wheeler Variant’.
- Select your ‘RTO Location’.
- Enter ‘Registration Number’.
- Then click on ‘Start Saving Money’.
- Premium Quotes of the top two wheeler insurance plans will be displayed as per data entered by you and which are suits your requirement.
- Select required add-ons, third party coverage and you can edit IDV for your Bike
- Purchase the best two wheeler insurance policy using online payment.
- If any queries are raised call: 1800-123-4003.
Online insurance web aggregator PolicyBachat not only helps you purchase the bike insurance policy online of your choice but also assists you in comparing all available policies and getting the most suitable deal. If you want to know more about the process of purchase or renew two wheeler insurance online, contact their insurance experts on their toll-free number 1800 123 4003 or chat with them at PolicyBachat.com