Bike Insurance is a financial shield that helps to overcome unforeseen damages relating to bikes. Protection against theft, natural calamities, accidents, third-party damage, fire, and riots can all be covered under bike insurance. Also, bike owners must get third-party insurance. Any kind of failure may result in legal action by the government.
Being such an important aspect for bike users, it must be protected effectively. So, here we are guiding you through the steps of buying a bike insurance plan. Let’s get started.
Vehicles Covered under Two-Wheeler Insurance
Two-wheeler is a common term used by insurance companies for many two-wheelers. The list includes the following vehicles:
- Scooter
- Sports Bike
- Luxury Bike
- Hybrid Bike
- E-Bikes
Benefits of Having a Bike Insurance Policy
There are several legal and financial benefits of having bike insurance. Let’s understand it briefly.
- It provides legal protection to the bike rider as third-party insurance is a compulsion in India. Any non-compliance may lead to penalties and imprisonment.
- In case of theft and fire losses to the bike, the owner of bike gets the financial assistance from the insurer.
- Third-party insurance protects the interest of the third party (bike or individual), who got damaged at the time of the accident.
- PA or Personal Accident coverage provides financial support for the death or injuries of the rider, at the time of the accident.
- It also provides coverage for man-made and natural disasters.
- Online purchases make comparison easy for the customer.
- Also, it saves time and provides better guidance.
- The experience is paperless which makes it eco-friendly as well.
Also Know – Best Two Wheeler Insurance:Top Plans & Premiums for 2025
Steps to Buy Bike Insurance online
You can enhance your awareness about the procedure of buying bike insurance to make the purchase convenient. The steps are here to guide you in the best possible way.
Step 1. Go to the website insurance provider’s website.
Step 2. Look for the option of Insurance Product and then click on “bike insurance option”.
Step 3. Click on the new bike option, if you are getting insurance for your new bike (not renewals).
Step 3. In case of an already existing bike, write your bike registration number. Then, go through the list of available plans mentioned on the site.
Step 4. Enter all the bike details including make, model, variant, the capacity of the engine, and previous insurance details (in the case of the old bike).
Step 5. Choose the type of insurance plan, standalone or comprehensive.
Step 6. You can also go with some add-ons if required.
Step 7. Get a quote for your selected policy and fill in personal details as well.
Step 8. Select the mode of payment and cross-check every detail including discounts and premiums applicable.
Step 9. Make payment and get all insurance confirmation in your mailbox.
Know – Why Bike insurance is important?
Reduce the Amount of Your Premium
You must be thinking of reducing the premium amount some time to make your insurance buying experience more affordable. What if we tell you that there are ways to make it possible? Yes, here we are with some tips for cutting the cost of your premium amount. Let’s learn them.
- Consider No Claim Bonus: Avoid small claims in your policy term to get NCB up to 50% at the time of renewal. NCB is the percentage discount that is offered at the time of renewal premiums if no claim is filed during the policy term.
- Claim the discount amount: Claim the NCB discount at the time of renewal to get an extra discount.
- Install GPS and other safety devices: Enhance the safety of your bike by installing safety devices. Insurers offer discounts on premiums for the bikes installed with safety devices.
- Select an affordable insurer: Choose an insurer with lesser cost and better coverage and compensation.
- Pay annually: Prefer annual payment of a premium over monthly. It reduces the cost to some extent.
- Consider our needs not wants: Avoid miscellaneous add-ons.
Conclusion
Lastly, we can conclude that buying insurance online is a time-saving, convenient, and fast process. It helps customers to make a reliable and effective decision by comparing plans of two or more insurers. Due to its 24/7 customer service, it has become very popular among bike owners. You can consider the above-discussed steps to buy your next bike insurance plan effectively and get yourself secured from unforeseen risks.
FAQs – About How to Buy Bike Insurance Online
What is bike insurance?
It is a financial assistance plan that helps you in overcoming losses related to bike damage.
Is bike insurance compulsory?
Yes, third-party insurance is compulsory in India under the Motor Vehicle Act 1988.
Which insurance is best for bike owners?
Any plan that is affordable and efficient as per the budget and need of the customer respectively.
What is first-party bike insurance?
This insurance type only covers damage caused to the bike of the insured. Any loss caused by theft, natural calamities or accident can be covered here.
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