5 Key Checks to Make Before Buying Two-Wheeler Insurance

Bike travel has become more convenient as the likelihood of getting stuck in traffic decreases. However, third-party insurance requirements have been mandated by law. It not only provides financial protection for your brand-new motorcycle but is also mandated by the Motor Vehicles Act of 1988 in India. Never purchase a policy from a motorcycle dealer, as they only offer standard coverage. Research and search for a reputable insurance provider in order to opt for a policy that meets your needs.

Here are a few things to consider prior to buying bike insurance online:

  • Choose the appropriate policy type

Third-party and comprehensive bike insurance policies are the two types of two-wheeler insurance policies. The third-party insurance policy covers only damages caused to a third party. However, the comprehensive coverage is inclusive of both third-party and own damage. However, it is recommended to purchase a comprehensive policy because it provides extensive coverage against several types of dangers associated with bike travel. 

  • Recognize what is covered

It is essential that you understand what you are signing up for when you are getting yourself the right two-wheeler insurance. Knowing what is covered and what is not covered will prove useful when filing a claim because when you actually have to claim bike insurance, you might be in for a surprise when you learn about all the exclusions.

A comprehensive policy covers third-party damages, any sort of destruction caused by man-made and natural disasters, theft, damages caused by accidents, third-party legal liability, etc. Purchasing the coverage online will provide you with more options. You can also check your motorcycle’s coverage by visiting the insurance company’s website. It is also advisable to consider purchasing separate third-party insurance for your motorbike. *

  • Choose a reputable insurance provider.

Do not choose the first insurance provider that your friends or family recommend. Do research on your own and choose a reputable insurance company with positive reviews. Signing the contract with a reputable insurance company will aid you during the claim process and even help you with any relevant promotional benefits. *

  • Declared Insurance Value (IDV)

The premium on your bike insurance policy is based on the bike’s current market value or Insured Declared Value (IDV). Compare two-wheeler insurance policies online and check the IDV amount prior to purchase. The IDV will be high for expensive two-wheeled vehicles, such as sports bikes, and vice versa. *

  • Consider the exclusions

It is crucial to understand what is not covered by your bike insurance online so that filing claims is straightforward. Therefore, carefully review the exclusions section of your policy document. The ideal balance would be between the low cost of the premium and lesser exclusions! If you ever need it, don’t ever shy from buying some add-ons for yourself. *

Here are some examples of excluded items:

  • Minor blemishes and wear on your bike
  • Mechanic or electrical malfunction
  • Utilisation of a vehicle for a purpose other than its intended use
  • Driving a vehicle with an invalid or nonexistent licence is illegal.
  • Driving under the influence of drugs or alcohol
  • Any type of loss or damage resulting from war, nuclear accidents, etc.

Before purchasing a two-wheeler insurance policy, you should check customer reviews or consult with people who have purchased insurance policies and take notes on their experiences with the insurance provider. You can buy and even review your insurance policy online, simplifying the entire purchasing process. Before opting for a two-wheeler insurance policy, the final step is to calculate the premium online using a two-wheeler insurance premium calculator and obtain quotes. If you need suitable bike insurance, check online for all your options. So, why wait? Get that bike which you like so much insured!

* Standard T&C Apply

‘Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.‘

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