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If you are new to bike insurance, you should spend some time learning how it works using a bike insurance app. This will assist you in purchasing the best possible policy that meets your needs and budget. We have some advice for you in this article if you are looking to get your bike insured for the first time.
- Select an appropriate insurance company
It is just as important to choose the right insurance company as it is to buy the right bike insurance policy. A bike insurance company not only provides insurance but also a variety of other services. Visit the company’s two wheeler insurance online page to learn more about the services it provides.
When it comes to choosing an insurer, reading customer reviews will give you a good idea of the company’s reputation. Social media platforms now offer a rating system based on user experience. Inquiring with your friends and family about the services provided by a specific insurance company may also be beneficial.
- Be prepared with specifics
Purchasing two-wheeler insurance online is the quickest and easiest way to insure your bike or insurance of scooty. After you’ve chosen an insurance company, you’ll need to be prepared with various details about yourself and your bike.
The insurance premium is determined by the cubic capacity of your bike’s engine, the year it was manufactured, and the make and model. These details can be found on your bike’s invoice. When you register your bike at the Regional Transport Office, you must provide a copy of your insurance policy. As a result, you will not have the registration number at this time.
- Select the appropriate policy type
A two-wheeler is more vulnerable to accidents than a car. With this in mind, purchasing a comprehensive bike insurance policy will be beneficial. It protects against third-party liabilities as well as your own damage. You can also supplement the coverage with add-ons.
Although purchasing a comprehensive policy is not required by law, it is recommended that you do so. Third-party insurance is another type of bike insurance available in India online. However, it does not provide coverage for any damage to your bike or its accessories. The bajaj allianz bike insurance app can help you select the correct policy type for you.
- Do not set a lower IDV
IDV is an acronym that stands for Insured Declared Value. It represents your bike’s current market value. If your bike is stolen or destroyed beyond repair, this amount will be used as a reference. It is commonly assumed that lowering the IDV will result in a lower insurance premium. It is important to note that lowering the amount will also lower the compensation during a claim.
- Select the add-ons you require
It’s easy to go overboard when picking out accessories for your new bike. Keep in mind that each add-on increases the cost of your bike insurance policy. To avoid this, first assess your needs and then select the add-ons that specifically meet those needs.
For example, if you intend to ride the bike alone the majority of the time, you can avoid purchasing a Pillion rider Add-on. Another example is to avoid using an accessories cover if your bike has no other modifications. A bike insurance policy already covers company-fitted accessories. Roadside Assistance, Zero Depreciation insurance for two wheelers, Return to Invoice, and other popular add-ons include, among others, Roadside Assistance.
- Go over the policy document
When purchasing bike insurance using a bike insurance app in India, it is prudent to read the entire policy document. As a policyholder, you should be aware of your policy’s inclusions and exclusions. Reading the terms and conditions and fine print will also be beneficial.
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.