The exhilarating experience of riding a bike at an uncontrollable speed is the dream of every young person, but is equally dangerous as well. If you really want to conserve the fun part of a bike riding experience, then make sure to insure the bike. This will not only help in covering the cost of the bike in case of any mishap, but will also help claim your bike if it is stolen or requires replacement of its parts due to an accident. You not only need to master your bike riding skills, but also need to master the process of choosing the best bike insurance plan. Are you still in a dilemma as to which bike insurance plan will secure your bike in the best possible way? Don’t worry!
Tips before buying bike insurance online
Whether riding a bike is your passion or just an ideal way to commute, you cannot even think of riding the bike through the roads until you’ve got it insured. Here are few tips that will give you a good starting point to choose from various policies to obtain the maximum benefit.
- Know-how of the types of bike insurance covers really helps:
To start off with choosing the best bike insurance online, you must know what options to opt for. You can get the bike insured with a comprehensive or third party plan. It is mandatory to get third party insurance for your bike due to legal liabilities. It provides protection to the other person when the policyholder is accountable for the accident. Comprehensive insurance plan, on the other hand, covers both the policyholder’s loss and third party damage. You can choose your bike insurance by looking at your needs and priorities.
- Add-ons are a blessing
People normally opt for the standard coverage option and forget about the various add-on plans in the list. There is a vast range of additional services that you can opt for and these services will surely aid in repairing costs or services like fuel assistance or a flat tyre. Save your money by investing in these add-on plans.
- Insured declared value (IDV)
It’s really important to know the current value or IDV of your bike in the market. This is quite crucial because before finalizing the premium for your bike insurance policy, it needs to be factored into your vehicle.
- Calculate your savings
It’s extremely important to know how much you can save in a month before making a decision on bike insurance purchase. Determine your monthly income and expenses to determine the saving. You must keep in mind that your bike insurance policy will go on for a long tenure; so don’t just make any decision in haste.
Easy steps to buy bike insurance online
Follow these easy steps to get coverage for your two-wheeler bike insurance without involvement of brokers.
- Select the insurance company that can fulfil all your needs:
It’s extremely important to select the right insurance company before making a policy purchase decision. You need to keep your eyes open and choose the company that provides the best quality pre-sales and post-sales services. Remember a decision made in a hurry is no less than a blunder.
- Choose the type of bike insurance you need
Once you’ve scrutinized the company that best suits your bike insurance needs, choose the type of bike insurance that can provide you multiple benefits. Go to the bike insurance page and fill in the entire details of the bike. Understand your needs and only then go for the best-suited bike insurance policy. You can also opt for an add-on for extended benefit on your policy.
- Set IDV
Once you’re done with selecting the type of bike insurance, you need to set the insured declared value of the bike. It decreases over a period of time and can affect the bike insurance premium.
This is the final stage of securing your bike with the best set coverage. Once you make the payment you’ll receive the policy document in your mailbox. Just download the same and be assured that your bike is now insured.
Buying the best bike insurance online is no more a hectic task. The customers today are more informed and the online channel is ready to break the complexities of the bike insurance process. Don’t wait for tomorrow, get your bike insurance online now.
Exclusion and inclusion
You need to be very smart while choosing the best bike insurance online. There are certain provisions where you can’t claim for a cover, if you were riding while drinking alcohol or taking drugs. You will also be refused coverage when the policy period expires or you face a nuclear risk. It’s always better to know about the exclusions and inclusions before you go for the bike insurance.