Fuel efficient and easy to ride on busy roads in India, two-wheelers are the most convenient way to commute through everyday traffic. Being a vehicle high on utility, most households in India will have a bike or scooter.
While two-wheelers add so much convenience to your life, you must keep your bike insured at all times for maximum safety and financial security. As you know, third-party insurance is mandatory for your two-wheeler but only covers liabilities caused to a third party in case of an accident. Hence, to ensure you enjoy wider coverage, opting for a comprehensive plan is advisable.
We are sure that when you think of two-wheeler insurance, you also think about how to get wide coverage for an affordable premium. Here are some tips that help you maximize coverage without paying a high premium.
How to Buy a Two-Wheeler Policy within Your Budget
Below we have curated a list of tips you can consider for a budget-friendly two-wheeler insurance policy:
Compare then Buy
Start with comparing multiple insurance policies available for your two-wheeler in the market. The easiest way to do this is online. And even better if you have access to an like the Bajaj Finserv that allows you to compare the plans you choose at one go and go ahead and make a suitable purchase. You can also check the coverage and additional benefits our trusted partners offer and choose a plan that suits your budget and requirements.
Try Not to Raise Small Claims
During your bike insurance renewal, insurers will offer you a No Claim Bonus (NCB) if you have yet to raise a single claim in the policy period. If you have to claim during the year, avoid raising claims for smaller issues. This way, you will be able to avail the benefit of the NCB, which is usually given in the form of a discount on the premium.
Opt for Relevant Add-on Covers
Add-on covers offer enhanced coverage over and above your standard policy. They also add up to the premium since they must be purchased separately. Choose your add-ons judiciously and based on how relevant they are for you. This way, you can have adequate coverage without paying a higher premium.
Don’t Miss the Insurance Renewal
To avoid losing the NCB benefit and paying a higher premium, renew your bike insurance on time. Riding without insurance also invites traffic penalties which can cost you dearly.
Give Preference to a Single Insurer
Try to purchase your insurance policies from the same insurance. E.g., if you have your health or travel insurance from one insurer, get your bike insurance from the same. This way, you could get a loyalty benefit from the insurer, which could result in lower premiums for your bike insurance.
While you go through these tips to make your two-wheeler insurance more affordable, let us tell you about the all-new Bajaj Finserv. A high utility allows you to handle all your financial needs, including insurance, at one single stop. On the other hand, you can explore bike insurance plans from our trusted partners. Here you can view product features, compare prices and purchase a plan best suited to your needs. All this in minutes and from the comfort of your home. It truly is becoming the new way to buy insurance.
Anywhere, Anytime Insurance with the Bajaj Finserv!
The Bajaj Finserv is a high utility that covers all your financial needs, including insurance. You can explore bike insurance plans from our trusted partners on the way. Here you can view product features, compare prices, and purchase a plan best suited to your needs. All this in a matter of minutes on our 100% digital platform and from the comfort of your home. It truly is becoming the new way to buy insurance.