The Internet has made our lives easier in a number of ways. No matter if you are looking to buy a bike or its insurance, anything and everything can now be purchased online. If you are looking to buy a bike insurance, it is important to Compare Bike Insurance from different insurance providers to get the best insurance. While comparing, don’t forget to consider the five factors mentioned in this post.
Apart from cars, it is also mandatory for a bike to have a valid insurance as per Section 146 of the Motor Vehicles Act of 1988. With the introduction of online insurance policies, one can now easily purchase bike insurance online. But you shouldn’t do so before comparing the insurance policies from different insurance providers.
By comparing the bike insurance, you can select a policy with features that suit your insurance requirements and can also save a significant amount of money as compared to buying a policy offline.
But when you Compare Bike Insurance online, make sure that you do consider the five factors mentioned below-
- Type of policy
When it comes to bike insurance in India, you get to choose from two different types of policies- Third-Party Cover and Comprehensive Cover. A Third-Party Cover is mandatory as per the Motor Vehicles Act, but this policy only covers the liability towards 3rd party damage. A Comprehensive Cover is optional but covers the damage caused to your vehicle along with the 3rd party damage.
The next important consideration is the coverage of the insurance. While the 3rd party insurance only covers damaged caused to a 3rd party, you can choose many other coverage options too. Some of the most common types of cover include Vandalism Cover, Collision Cover, Property Damage Liability Cover, Bodily Injury Liability Cover and Personal Injury Protection Cover.
- Type of bike
Just like car insurance, the premium for your bike insurance is also decided on the basis of a number of factors, like the age of your bike, CC of the engine, type of bike, place of registration, modifications, and accessories, etc. Usually, the insurance premium of sports bike is greater than standard bikes.
- Your age and riding experience
The insurance provider also considers your age, riding experience, drive record, gender, etc. to determine the premium for your bike insurance. For instance, if you are a young male between 20 and 25 with a riding experience of one year, the premium for your bike insurance will be higher than the premium for a bike insurance purchased by a mature, experienced rider.
- Claim process
When comparing bike insurance, make sure that you also go through the claim process of the insurance provider. You must know how to raise a claim and get the same settled with your insurance provider to avoid any inconvenience in future.
Comparing bike insurance is a simple and efficient way to pick the best insurance policy which perfectly suits your insurance requirement. Remember the factors mentioned above, and you can be rest assured that the whole process would be quick and hassle-free.