Motorbike insurance is mandatory in India. It offers financial protection against physical damage or theft of the vehicle. The cost of the policy depends on various factors such as the bike’s make and model, driver’s age, driving record, and so on. In this blog post, we will discuss tips that will help you avail of affordable bike insurance.
Let’s take a look at these tips.
1. Research before Buying a Bike
Before buying a bike, you must research the different models and their prices. This will help you decide which bike suits your needs and budget best. Once you have decided on the model, you can start looking for insurance quotes.
2. Comparing Quotes from Different Insurers
Once you have gathered quotes from different insurers, it is time to compare them. You should compare the premiums and coverage offered by each insurer. This will help you choose the most affordable bike insurance policy for your needs.
3. Checking the Policy Terms and Conditions
You must read the policy terms and conditions before purchasing a policy. This will help you understand what is covered under the policy and what is not. This will also help you in making an informed decision about the policy.
4. Install Anti Theft Devices
Installing anti-theft devices on your bike is one of the best ways to avail affordable motorbike insurance. This will help you get a discount on your premium and act as a deterrent for thieves. Some of the common anti-theft devices that you can install on your bike are:
- Steering lock
- Wheel lock
- Disc brake lock
- Alarm system
Apart from this, it is also crucial to park your bike safely and securely. This will further help reduce the risk of theft. Hence, help you get cheaper motorbike insurance.
5. Choose only Required Add-Ons
Most insurers offer add-on covers along with the base motor insurance policy. Some of these are essential, while some are not. Therefore, you must check and select only those add-ons which are required. This will help you in keeping the cost of your policy low.
Various add-on covers are available such as engine protector cover, accessories cover, pillion rider cover, etc. You can choose any or all of these based on your requirement and budget.
6. Transfer your NCB
If you have been driving your car for a while and have not made any claims, then you are eligible for a No Claim Bonus (NCB). This bonus can be transferred to your bike insurance policy and help you avail a discount on the premium. To avail of this benefit, you will need to submit the NCB certificate issued by your previous insurer when buying the new policy.
7. Renew Policy on Time
The most crucial tip to avail affordable motorbike insurance is to renew the policy on time. If you are a regular rider, then you should go for a long-term policy that covers you for at least three years. This will help you save money on the premium and avoid any lapse in coverage.
The Bottom Line
The motorcycle insurance cost can be quite high, but there are ways to get affordable coverage. By following the tips mentioned above, you can get the coverage you need at a price you can afford.