Buying a new bike is an exciting event. You check several things while finalising a bike like mileage, CC, body, engine capacity, and maintenance costs. Other things to consider are comfort, reliability, and resale value, and ensure it fits your budget and needs. In addition to other aspects, getting the best two wheeler insurance is also important.

A bike insurance policy provides you with financial protection against unforeseen accidents, theft, and natural disasters. Not just that, it will also cover third-party liabilities, legal compliance, and repair costs.

But how to purchase the right bike insurance policy in India? Let’s explore a few essential tips to get the best bike insurance.

Step-By-Step Bike Insurance Buying Guide

1. Understand Your Insurance Needs

Before buying a bike insurance policy, you should know what you want from the insurance. Read some insurance brochures for better understanding. Analyse your specific requirements and then explore different policies. Also, decide whether you need basic third-party liability coverage or a comprehensive policy.

A comprehensive policy includes theft, accidents, and natural calamities. It is always best to clarify your priorities and target the best two wheeler insurance for your needs. For instance, if you use your bike daily in urban areas, a comprehensive policy is more beneficial due to the higher risk of accidents. Conversely, if you rarely use your bike, a basic two-wheeler insurance policy may suffice.

2. Compare Policies Online

The digital age has made it easier than ever to compare and buy bike insurance online. So, utilise comparison platforms to evaluate multiple policies based on their coverage, premiums, and benefits. This ensures that you get the best value for your money and avoid overpaying for unnecessary features.

Pay attention to factors like bike insurance cost, inclusions, exclusions, and claim settlement ratios of the insurer. Most importantly, opt for an insurance provider with a good reputation for quick and hassle-free claims.

3. Evaluate the Coverage and Add-ons

A bike insurance policy is only as good as the coverage it offers. Ensure that the policy covers not just third-party liabilities but also provides comprehensive protection against damages caused by natural disasters, theft, or accidents. Some policies also offer useful add-ons like:

• Zero Depreciation Cover: Covers the full cost of bike repairs without factoring in depreciation.
• Roadside Assistance: Provides on-the-spot assistance in case of breakdowns.
• Engine Protection Cover: Covers engine damage due to unforeseen circumstances.

Evaluate these options to customise your bike insurance coverage as per your needs.

4. Consider the Premium and Policy Tenure

Bike insurance cost is a critical factor in the decision-making process. While it is important to find an affordable premium, don’t compromise on essential coverage for the sake of saving money. Look for discounts or no-claim bonuses offered by insurers to reduce your premium without affecting the coverage. Additionally, consider the tenure of the policy.

5. Check the Claim Process and Insurer’s Reputation

A smooth and quick claim process can make a significant difference during emergencies. Research the claim settlement ratio and customer reviews of the insurer before finalising the policy. Remember, a higher claim settlement ratio indicates reliability and efficient service.

Also, understand the documentation and process involved in filing claims. Many insurers like TATA AIG now offer a cashless claims facility.

6. Opt for Online Purchases

One of the easiest ways to secure the best bike insurance of your choice is to buy bike insurance online. Not only does this save time and effort, but it also provides access to exclusive discounts and offers. Online platforms also allow you to instantly renew your policy or make modifications without any hassle.

Final Thoughts

Simply follow the above tips and save yourself all the effort of selecting the best bike insurance online. Just compare different best options, analyse your needs, evaluate coverage, and make the best of online platforms. You will find the perfect policy that aligns with your requirements and budget. Remember, a well-chosen bike insurance policy is nothing but a smart financial decision that ensures your safety and peace of mind on the road.

So, take the first step today. Explore your options, and make an informed choice to protect your two-wheeler with the best bike insurance coverage. After all, your bike deserves the same level of care and protection as you do.

FAQs

How to choose the best bike insurance policy?

To choose bike insurance, compare coverage, premiums, and claim settlement ratios online to find a policy that suits your needs and budget.

What is the rule for bike insurance?

You must have at least third-party liability bike insurance under the Motor Vehicles Act in India.

Which insurance is important for a bike?

Comprehensive insurance is important as it covers both third-party liabilities and own damage.

What are the three types of bike insurance?

The three main types are third-party liability, standalone own-damage, and comprehensive insurance.