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How Bike Modifications Affect Your Oriental Bike Insurance?

Written by Sumit Arora
Updated On Aug 06, 20212 min read

Read this article to find out how making or installing modifications to your bike affects the cost of its insurance premium when purchased from Oriental Insurance Company.

Differences in taste have always existed as a result of people's differences. Some people want to keep their bicycles basic, while others like to jazz them up with a few tweaks. Bike customization has become a popular craze that has grown in sync with technological progress. bike Insurance companies have made it a point to keep up with the ever-changing automotive sector. Insurance is not only a legal obligation but also a necessity that assists in the battle against financial risk.

How Bike Modifications Affect Your Oriental Bike Insurance?

Oriental Bike Insurance And Modifications

Oriental Insurance Company Ltd. is one of India's major general insurance firms, having started operations in September 1947. As part of its product range, the firm offers bike insurance plans, four-wheeler insurance policies, personal accident policies, and so on. The company's bike insurance policy protects you against financial losses in the event of an unforeseen occurrence such as an accident, vehicle damage, or theft. 

Some bike enthusiasts are passionate about not altering their two-wheeler in any way. On the other hand, some bike aficionados love tinkering with and customising their motorcycles. Modifying your bike may be freeing and joyful. Bikers like expressing themselves via their motorbikes, and one way to do so is by customising their two-wheeler. Bike modifications may be divided into three categories. The impact of each of these types on insurance rates has been varied. Continue reading to find out how such changes influence the premium.

  • Security-Based Modifications

The most efficient way to keep your bike secure from thieves is to make these changes. Installing security features on your bikes, such as locks and alarms, is part of this process. These devices are usually certified by the Automobile Research Association of India (ARAI). These anti-theft or security devices protect your bike from theft, reduce the risk of damage, and reduce your insurance company's liability. As a consequence, installing ARAI-approved security technology on your bike decreases your Oriental Insurance Company bike insurance cost.

You may also like to read:- Factors That Decide Bike Insurance Premium

  • Performance Enhancing Modifications

The basic objective of performance improvements is to increase the speed and control of your bike by making it stronger and more powerful. One of them is equipping the bike with speed-enhancing gadgets or fuel-saving technology. Because increased speed and performance may raise the danger of an accident, Oriental bike Insurance Company considers such modifications to be "risky." As a result, Oriental Insurance will boost premiums in response to these developments.

  • Aesthetic Or Appeal Enhancing Modifications

Aesthetic modifications entail giving your bike a more ornate appearance in order to increase its aesthetic appeal. These modifications range from altering the bike's colour to replacing a few engine parts. By adding carbon fibre components or altering the lights, you may make your bike seem sportier. The more appealing your bike seems, though, the more crooks it attracts. Changes to the bike's look might also increase its market value. Therefore, in the case of such changes, Oriental Insurance Company may boost the premium price for your bike insurance policy, not only because of the increased risk of theft but also because of the cost of non-factory-fit auto components that a bike requires.

Also Read:- Popular scooters for Women 

Take Away

While different modifications may affect your bike insurance rate, it's essential to inform your bike insurance provider of any changes you've made to your bike. It's quite likely that your insurance company will refuse your claim if you haven't notified them about the changes you've made to your bike. As a result, make sure your insurance company is aware of any changes you've made to your bike.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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Written by Sumit Arora
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 Sumit is an insurance industry veteran with more than 20 years in the industry. Sumit is a frequent columnist and speaker at major insurer conventions and is a heard name in insurance circles In his free time, Sumit likes to spend time with his family and go on trips

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