Ways to Get Discount on Bike Insurance

A bike insurance is an agreement signed between the insurer and the policyholder, wherein the former agrees to compensate for the losses incurred to the policyholder’s bike. If the bike is damaged, lost, or stolen, then with a bike insurance plan, policyholders can get adequate protection against these. Now, in order to reap the benefits of bike insurance at affordable rates, there are certain tips that you can adhere to. So, listed below are the different ways in which you can avail of discounts on bike insurance.

Different Ways to Get Discounts on Bike Insurance

Scroll through the section to understand the different ways in which you can get discounts on bike insurance:

• In order to get discounts on bike insurance, the best way out is to maintain a clean riding record. This means that in case you have raised comparatively lesser bike insurance claims and have no record of bike accidents, then you will be eligible for getting discounts.
• You can consider buying bike insurance online as there are many insurance companies that offer discounts on buying bike insurance plans online. You should also compare different bike insurance plans online to grab the best deal and get bike insurance at affordable premiums.
• Do not raise claims if there is minor damage to your bike as that will prevent you from getting the benefit of a No Claim Bonus. A No Claim Bonus benefit is provided to those policyholders who do not raise bike insurance claims in a given year. Moreover, with no claim bonus, you can also get discounts on bike insurance premiums. So, avoid raising multiple claims and get the benefit of a no claim bonus and additional discounts.
• You can also install security equipment like an anti-theft device that increases the safety of your bike. With enhanced safety, bike insurance companies reduce the premium on bike insurance plans, thus letting you get bike insurance at discounted prices.
• You can choose to buy multi-year bike insurance plans as the same offers discounts. For instance, if you buy a bike insurance plan for 4,5 or more years, then you can get discounts on bike insurance premiums.

Who Should Buy Bike Insurance Plans?

Every bike owner, must have a bike insurance plan to get protection in case any uncertainty takes place on road. In fact, as per the Motor Vehicles Act of 1988, it is mandatory to have at least third-party bike insurance. Along with third-party bike insurance that provides coverage for third-party liability, you can also buy a comprehensive bike insurance plan to get even more benefits from your bike insurance plan. 

Take Away

Thus, with the above-mentioned tips, you can easily save on bike insurance premiums. Moreover, you should also check with different bike insurance providers to know whether you are eligible for getting bike insurance discounts or not.

Also Read: 

What is 1st party, 2nd party, and 3rd party in bike insurance?