6 Tips To Reduce Your Two-Wheeler Insurance Premium

6 Tips To Reduce Your Two-Wheeler Insurance Premium


Bikes are favoured as an everyday form of transportation in India. According to the law, if you own a motorcycle, you must insure it. The purchaser can select a basic insurance policy or, for a higher cost, a more comprehensive insurance policy. Here are some suggestions to help you get the lowest bike insurance.

Pick A Bike Wisely

Choosing a bike is a crucial factor in determining insurance costs. An expensive bike may result in you having to pay a hefty insurance deductible. The repair, maintenance, and replacement costs will be substantially lower if you choose a regular bike, an older model, or a used bike. Thus, insurers are more likely to offer you affordable insurance premium rates in these situations.

Choose A Long-Term Policy Tenure

Bike insurance policies can be acquired longer than vehicle insurance, which is renewed annually. As a result, you can select an insurance policy with two-wheeler insurance that lasts up to three years. Because the insurance premium is frozen for the duration of the policy term, choosing a long-term insurance policy will enable you to save money on insurance.

Insurance Policy Comparisons

You must evaluate the many insurance plans provided by the top insurers in the nation before making a purchase. You can compare insurance policies online using comparison websites run by third parties or visiting the relevant insurers’ websites. Read the company’s advantages, attributes, claims process, premium payment channels, and incurred claim ratio. Request premium pricing quotes and pick cost-effective bike insurance online that offers you enough coverage at a reasonable cost.

Don’t Make Small Claims

Drivers who have not filed a claim within a specific period of time are often rewarded with no-claim incentives, such as a concession on their insurance premiums. These incentives encourage safe driving practices and reward policyholders for maintaining a claims-free record. However, if a policyholder decides to file claims for minor losses during a particular year, they may become ineligible for the no-claim bonus for that specific year. By refraining from filing claims for minor losses, policyholders can preserve their claims-free status and continue to benefit from the no-claim incentives offered by their insurance provider. *

Request For Concessions

Ask the representative or insurance agent about concessions before choosing a two-wheeler plan. Numerous insurers provide insurance buyers with age-related accommodations. Several insurance companies offer similar benefits to purchasing long-term goals, purchasing concessions based on gender, etc. As a result, it is a good idea to see if the insurer offers any concessions that could reduce the rate.

Boost The Safety Of The Bike

The likelihood that the insurers will offer a cost-effective premium rate increases with the bike’s level of security against theft, accidental damage, and vandalism. Insurance companies are more inclined to offer cost-effective premiums or concessions since security measures and safety equipment reduce the risk posed.

A bike insurance calculator is a convenient tool you may utilise online to check the amount of coverage required based on your needs.

Standard T&C Apply

All savings are provided by the insurer as per the IRDAI-approved insurance plan. 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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