9 Things To Consider While Buying Bike Insurance Online

If you have bought a bike recently, you must be worried about its insurance. You cannot take your two-wheeler out without third party insurance. However, you must also ensure your protection. Are you thinking about buying bike insurance online? Well, you must know certain things before making a final decision.

Points to consider before Buying Bike Insurance Online

Here are nine things to consider before purchasing bike insurance online.

Check The Insured Declared Value

It is the sum assured. The IDV denotes the maximum compensation you receive in case of theft or damage to your vehicle. The company calculates it based on the present market value of your bike.

If you add any parts to your bike, later on, it will not get covered by the insurance. The depreciation will get deducted from the total amount.

Does Your Two Wheeler Insurance Offer NCB?

NCB refers to No Claim Bonus. If you do not make any claims in a particular year, you get a discount on the premium for the next year. So, the lesser claims you make before the termination of the plan, the more discounts you will get.

 Buy Two-Wheeler Insurance With Comprehensive Coverage

When you compare bike insurance policy options, make sure you choose a policy with comprehensive coverage. It should cover the damages caused to the third party. The protection of your bike is also crucial. So, buy a plan that covers the damages caused to your vehicle as well. Comprehensive two-wheeler insurance covers everything ranging from third party claims to damages done to your bike.

Check The Discounts When You Compare Bike Insurance

Wouldn’t you love it if you could make some savings on your premium payments? Insurance providers often give several exciting discounts. Do not forget to check them before buying the policy. Opting for long term two-wheeler insurance will enable you to get more discounts. You can save up to 60% on your third party premium if you choose a long term plan.

Make Sure You Furnish The Accurate Details

When you buy bike insurance online, no one would be there to cross-check your details. So, you have to stay alert. Any mistake might lead to a lot of trouble later on. You will face problems while claiming your policy. It might also get cancelled. Make sure you check everything before uploading the form.

Does Your Two-Wheeler Bike Insurance Cover The Pilion Rider?

Several plans have the option of adding extra benefits. It might cost you a bit more. However, it will be of use in case of a tragic event. After all, you must also protect the lives of your loved ones.

Know What Your Two-Wheeler Insurance Covers

When you buy bike insurance online, make sure you check what it covers. Here are certain things that are excluded from the coverage.

• If you are driving without a valid driving license.
• When you are using your bike for illegal purposes.
• Electrical and mechanical damages caused to your bike.
• If you ride in an intoxicated state.

Never drink and drive. Besides putting your own life in danger, you will hamper the safety of others.

Check The Claim Settlement Ratio Of The Company

It indicates the percentage of claims that the company has settled successfully till date. You can check the reviews of the previous customers to get an idea. It is crucial to check this information when you buy bike insurance online. After all, you cannot risk your hard-earned money by investing in a company you cannot trust.

Compare Bike Insurance Policy Options On PayBima

Do a bit of research before you purchase two-wheeler bike insurance. Compare the quotes and benefits offered by different insurance providers. Who can help you in this better than PayBima? Compare bike insurance policy and choose a plan according to your budget and convenience.

The Bottom Line

Buying two-wheeler bike insurance has become a cakewalk. You can do it with a few clicks from the comfort of your home. However, you need to do your research and invest your money cautiously. If you keep these things in mind, you can purchase the best policy for your bike. Are you still waiting? Visit the PayBima website ad take steps to protect your favourite vehicle which is ensure by Mahindra. Read more