How To Get Discounts on Bike Insurance in 2021?
Published On Feb 23, 2021 10:00 AM By InsuranceDekho
The ultimate aim of bike insurance is to reduce the impact of damage to the bike on the pocket of the insured. Bike insurance also helps to drive by abiding by traffic rules. There are sure ways to get discounts on the bike insurance premiums making it very feasible.
All individuals buying a two-wheeler in 2021 should understand that it is mandatory to buy at least a third-party two-wheeler insurance in order to ride their bike on Indian roads without any fine. Two-wheeler insurance helps you mitigate any loss or damage which may get incurred due to an accident on the road.
Ways To Get Discounts on Bike Insurance
Though buying bike insurance is mandatory, it is still possible to save a good deal of money on bike insurance. Some working tips that will help in saving a good deal of money with bike insurance are as follows:
1. Browse for Insurance Policies and Renewals Online
Buying a bike insurance plan or renewing it online can help in saving a good deal of money as there is no middleman involvement and commissions incurred. Also, the Bike insurance company can lower the premium cost by adding coupons and promotional offers from time to time on the bike insurance. Choosing the plan online helps to compare between multiple insurance policies and choose a plan that renders them affordable premium cost.
2. Choose Long Term Bike Insurance Plans
To enjoy discounts on bike insurance, it is important to choose long term insurance plans as most of the insurers will render ample discounts on long term plans. Also, it eliminates the hassles of renewing the premiums every year and protects the insured from yearly price hikes. The incidence of the policy getting lapsed from non-renewal is also prevented.
3. Consider Installing Anti-Theft Devices
The cases of two-wheelers getting stolen occurs often in India and leave the owner both financially and emotionally vulnerable. Installing anti-theft devices in the vehicle will prevent it from getting stolen and also attract discounts from the insurer for installing it. The bike insurance can be bought at a lower rate by installing anti-theft devices approved by the Automotive Research Association of India (ARAI) on the bike.
4. Driving Responsibly
Over speeding and rash driving can cost the life of an individual and property. But it can have a serious impact on the insurance premiums as well. Insurers offer a No-claim bonus on every claim-free year and by driving carefully. Following the traffic rules and regulations on the road can help in saving at least 50% on the two-wheeler insurance premiums.
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Smart buyers are those who compare different two-wheeler insurance companies online and buy the best plan to enjoy comprehensive coverage and discounts on premiums at the same time. As buying bike insurance is compulsory, the only way to save on premiums is to earn discounts in the above-mentioned ways.
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.