Bike Insurance Quotes
A two-wheeler insurance quote is the estimate of the premium payable towards the bike insurance coverage chosen by the policyholder and the details entered by them. The amount of premium payable depends upon several factors like variant, make, model, plan, and so on.
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Bike Insurance Quotes on Top Bike Models
The cost of a bike insurance policy is known as a premium. The Insurance Regulatory and Development Authority (IRDAI) has fixed the premium for third-party plans which vary depending upon the engine capacity of the bike. The premium amount for comprehensive bike insurance plans and for standalone own-damage bike insurance plans depends on a number of factors such as the coverage of the plan, make, model and variant, fuel type of the bike, RTO location etc.
How To Get Quotes For Bike Insurance?
You can get quotes for your bike insurance by following the steps given below:
- Visit InsuranceDekho and select the bike tab
- Enter your bike’s registration number. If you do not remember your bike number then click on “Don’t remember your bike number? Click Here”
- Then, click on ‘Get your quote’. Choose your bike’s brand, bike’s model, petrol variant, bike’s registration year, bike RTO city.
- Afterward, enter your personal details such as name, mobile number, etc. Then, click on ‘Submit and Get Quotes’.
Tips To Get The Best Bike Insurance Quotes
While purchasing bike insurance, you can get the best quotes by considering the following tips:
Make Use of The NCB
No claim bonus is the bonus that the bike insurance company offers to its customers if there hadn't been any claim made from their end for a long time. The NCB discount shows continuous growth and for every year when the claim is not made, there is an increase in discount. The NCB can go up to 50% in case if it remains claim-free for 5 years in a row.
Select Add on Covers Wisely
Additional benefits are also to increase the coverage of your bike insurance policy at the cost of an additional premium amount. So, select the add-on covers wisely and pick only those which are necessary for your bike. Examples of add-on covers include Zero depreciation, roadside assistance, return to invoice, Engine safe cover, key loss cover, etc.
Compare Plans Prior To Purchasing The Policy
With different types of policies available in the market, it gets difficult for the policyholder to choose the best insurance policy. To avail the optimum policy with the best quotes, compare all the policies thoroughly prior to selecting one policy. You can easily do this from the comfort of your home by comparing the policies online at InsuranceDekho with complete guidance.
Timely Renewal Of Bike Insurance Policy
Bike insurance is generally provided for 1-5 years post which it needs to be renewed. At times of delay in the timely renewal of your bike insurance policy, you are required to pay a premium along with a fine. Also, you won’t be able to compare and choose the best quote from a variety of policies. Additionally, if the bike insurance policy has expired, the premium at the time of renewal would be at a higher end. Therefore, it is significant to get your bike insurance policy renewed on time.
Keep Up With An Excellent Driving Record
To maintain an excellent driving record, it is necessary that you should drive safely and indulge in lesser accidents. Moreover, with fewer accidents, there would be consequently lesser claims, thus resulting in a higher No Claim Bonus. Also, your bike insurance company would get to know that the policyholder is associated with low risk. Therefore, at the time of purchasing bike insurance both these factors would help you in reducing the premium amount in order to get the best quote.
What are the Benefits of Getting Bike Insurance Online?
The following are the benefits of purchasing your two-wheeler insurance online:
Lower Cost: The cost of purchasing insurance online is lower as it allows insurance companies to cut down on the cost of paperwork and middlemen.
Convenience: Purchasing your bike insurance online allows you to do it from the comfort of your home and at any time that is suitable for you.
No Paperwork: The bike insurance that you purchase will come with no lengthy procedures and paperwork. You simply receive the insurance document on your email ID after the purchase.
Policy Document is Easy to Retrieve: When you purchase insurance online it is extremely simple to get a duplicate copy of the insurance policy, unlike the traditional offline method.
Endorsements are Easily Made: With insurance available for purchase online the changes to the documents can also be made on the insurance provider's website.
What to look for When Comparing Bike Insurance Quotes Online?
These are a few tips to help in your search for the best two-wheeler insurance:
Premium Amount: The cost of insurance is an important aspect for each of us. Keep a price point in mind, however, do not simply go looking for the cheapest insurance policy you can find. The cheapest is usually not the best, look for an affordable yet effective insurance policy.
Coverage: each policy varies in the coverage it provides. Some of them have in-built add-ons that may be useful for you.
Customer Service Reviews: We require the customer service of the insurance company usually during moments of crisis. Hence, having an insurance provider that can respond promptly and efficiently at such times is essential. Make sure to read customer service reviews before selecting your insurance provider.
Exclusions: Make sure to read the terms and conditions of the policy you choose and pay special attention to the exclusions mentioned in the document. They can make a huge difference in case of a mishap.
Claim Settlement Ratio: This is a perfect tool for analysing the insurance provider and the ease of claim processing in case of a mishap.
Insurance Company’s Reputation in the Market: At the time of purchasing a bike insurance plan online, always opt for a reputed and trustworthy two-wheeler insurance company. Also, before deciding on a particular insurance quote, make sure you go through the claim settlement ratio of the insurance provider in order to know the claim process efficiency as it would ensure that the insurance company offers an easy and hassle-free claim settlement process.
Know the Amount of Coverage Needed: Before you start looking for two-wheeler insurance plans online, it is significant to first make an assessment based upon your budget and requirement. Depending upon the amount of coverage, two-wheeler insurance can be categorized into - comprehensive insurance plan and third-party insurance plan. Based on the usage of your bike insurance, other liabilities, expenditures, select an insurance plan that provides the right coverage amount.
Discount Offered: While comparing bike insurance plans online, select an insurance plan that offers a good discount rate so that the amount of premium to be paid against the two-wheeler insurance plan gets reduced considerably. Some of the common discounts which can be claimed by you in your bike insurance plan are NCB discount, discount for opting for voluntary deductibles, etc.
What are the Pros and Cons of Purchasing Two-Wheeler Insurance Online?
The pros and cons of buying a two-wheeler insurance plan online are mentioned below:
Insurance documents can be accessed instantly
Basic knowledge of insurance required
Policies are cheaper
Computer knowledge required is required
Easy to compare policies
No agent to provide additional help to file for claims etc.
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Bike Insurance Premium FAQs
What does a bike insurance premium mean?
The bike insurance premium refers to the cost of the insurance plan purchased for a bike.
Is the premium for comprehensive bike insurance the same for all bikes?
No, the premium for comprehensive bike insurance is not the same for all bikes. The premium for a comprehensive plan varies on the basis of the MMV (make, model and variant) of the bike, its engine capacity, its age, the add-ons opted among other factors.
How can I lower the insurance premium for my bike?
You can lower the insurance premium for your bike by following the below-mentioned tips:
Always compare available insurance plans and then choose the one which best suits your requirements and budget. Avoid making claims for small expenses. This helps you keep your No Claim Bonus (NCB) discount intact. The NCB ranges from 20%-50% depending on the number of claim-free years. Always remember to transfer your NCB at the time of policy renewal.
How does the age of the bike affect the bike insurance premium?
The Insured Declared Value (IDV) offered by an insurance company for an old or aged bike is relatively less than that of a new bike. The age of a bike affects the IDV because of the depreciation (wear and tear )suffered by it over time. Thus, the premium amount for aged bikes is lower than that of brand new bikes.
What is the premium for bike insurance add-ons?
The premium for each bike insurance is different. Each bike insurance add-on such as a zero depreciation cover, engine cover, tyre cover, etc comes with a separate premium and helps you extend the coverage of your insurance plan. Bike insurance add-ons are available with standalone own-damage and comprehensive bike insurance plans.
How to compare bike insurance quotes at InsuranceDekho?
At InsuranceDekho, you can compare different bike insurance quotes easily and quickly. All the quotes which get displayed to you are customized according to the details shared by you. Thus, you can compare the quotes basis the available coverage and other features offered by the bike insurance plans.
For how much time the bike insurance policy quotes are considered valid?
Generally, the bike insurance policy quotes which are calculated at InsuranceDekho remain properly valid for approximately for a time of 10 days. There can be changes in them only if the rates of policy premium given by the insurers tend to alter or in case the bike's age gets a little bit change in it during a certain period.
How can I find the bike insurance policy quotes online at the website of InsuranceDekho?
Policyholders can get the best bike insurance plan quotes at the website of InsuranceDekho by following the simple steps:
Step 1: Visit the official website of InsuranceDekho and click on the ‘Bike’ tab.
Step 2: Fill up the registration number of your bike. In case, you are not having the registration number of your bike, kindly select the option which says ‘Don't know your bike number?’.
Step 3: After this, a pop-up option or window shall be displayed on the screen. Opt for the brand name of your bike, model and variant of your bike, bike's fuel type, its variant and registration year as well as registration city, RTO, etc.
Step 4: Fill up your personal details such as Name and Mobile Number. After this, hit the ‘Submit and Get Quotes’ button. Do try to confirm the expiry date of your last bike insurance plan and your last bike insurer's name.
Step 5: All bike insurance plan premium quotes offered by different insurance companies will be shown to you.
How can I get cheaper bike insurance plan quotes online?
You can get affordable bike insurance covers by totally comparing various insurance quotes. You can perform so by going to InsuranceDekho website and choosing the plan quote that perfectly suits all your needs.
Are bike insurance quotes free?
InsuranceDekho offers the service of comparing insurance premium quotes for your bike for free. However, you need to pay the premium at the time of buying a bike insurance plan.
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