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Mistakes to Avoid When Purchasing Bike Insurance from Raheja QBE

Wish

Written by Sumit Arora

Updated Nov 02, 2021

Buying insurance for your two-wheeler is simple. It is important if you want to ride on roads legally. Read this article to know what mistakes to avoid when purchasing bike insurance from Raheja QBE.

Raheja QBE offers bike insurance plans that were designed expressly to meet the demands of our clients and deliver a pleasant experience. The clients must find value in the services given, and selecting the appropriate insurance plan should be as simple as possible.

In India, purchasing a two-wheeler insurance coverage is straightforward. However, you must exercise caution to ensure that you have the appropriate coverage at the appropriate price. 

Mistakes to Avoid When Purchasing Bike Insurance from Raheja QBE

Mistakes to Avoid When Purchasing Bike Insurance from Raheja QBE

Here is a list of typical mistakes to avoid while looking for a dependable two-wheeler insurance coverage that provides financial protection in the event of an accident:

  • Not Doing Enough Research

If you do not do sufficient study and analysis of numerous acceptable plans available, you may wind up purchasing an expensive two-wheeler insurance coverage. Exploring different two-wheeler insurance policies is vital because it makes you aware of different plans, their coverage features, premiums, and so on, and it aids you in selecting a policy that is both inexpensive and offers comparable advantages. 

  • Looking for a Cheap Insurance Policy

Another typical mistake individuals make when buying a two-wheeler insurance coverage online is choosing a policy only on the basis of a low premium. Price is, of course, a significant consideration, but you cannot choose insurance purely on the basis of its cost. This is because, in many cases, a low-cost two-wheeler insurance policy does not provide coverage for major damages to your two-wheeler, leaving you to pay for the losses out of pocket.

  • Choosing the Wrong Insured Declared Value 

Insured Declared Value, or IDV, of your two-wheeler, represents its current market value. When picking the IDV for your two-wheeler, you can choose a lower number because a lower IDV indicates a lower premium. However, this is not the best strategy because the IDV is the amount you would receive if your two-wheeler is damaged or stolen. So, get the appropriate IDV to ensure that you are insured in the event of an accident.

  • Not Reading The Policy's Terms and Conditions

It's essential to understand the terms and conditions of your two-wheeler insurance policy so that you don't run into any problems when it comes time to file a claim. So, to be able to enjoy the insurance advantages in the future, be knowledgeable on the inclusions, exclusions, and other policy terms.

  • Letting Your Insurance Policy Get Lapsed

You will forfeit your No Claim Bonus if you let your two-wheeler insurance coverage lapse. It is usually a good habit to pay two-wheeler insurance premiums on time. It not only allows you to take advantage of any accrued advantages, but it also allows you to fulfil your legal responsibility to ride on Indian roads.

Take Away

You can avoid the above-mentioned typical blunders by paying closer attention to the policy's contents as well as its terms and conditions. You can use the two-wheeler insurance premium calculator to compare and analyze numerous eligible plans to pick the cheapest one for your two-wheeler and buy the most suitable two-wheeler insurance policy online.

Also Read:

How IFFCO Tokio Insurance Helps You Protect Your Two-Wheeler?

List of Documents to Carry When Riding a Two-Wheeler

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.

Wish

Written by Sumit Arora

Sumit is an insurance industry veteran with more than 20 years in the industry. Sumit is a frequenRead More

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