7 Tips for Saving Money On Two Wheeler Insurance This New Year


Two Wheeler Insurance India
Image – Pixabay

A brand new year is waiting around the corner. You may have many dreams and wishes to achieve this new year. If one of them has been getting your own two-wheeler, then you must look to achieve the dream by all means. You will find many attractive schemes to buy a new bike around this time. Make full use of these deals and get yourself the two-wheeler you always wanted. And along with that, get a good 2 wheeler insurance plan too.

Tips To Save Money On Two-wheeler Insurance 

Take a look at the simple tips mentioned below to save a lot of money on your bike insurance premium:

  1. Choose the right kind of policy: Two-wheeler insurance is available in two forms – third party and comprehensive. You need to understand what each type of insurance provides. You then need to assess your own requirements. Then see which type of two wheeler insurance suits you the best. Choosing the right plan will ensure you get the correct value for the money you pay. 
  2. Compare: It is vital to compare two wheeler insurance. Unless you compare, you will be unaware of the cheapest option. Without running a comparison and picking up the first plan you see, you will most likely pay more than you need to. So do remember to compare two wheeler insurance before you make your final selection. 
  3. Install some safety devices: Your insurance plan offers cover against damages and thefts. So if you install some safety devices in your vehicle, it will automatically become safer. This will make it less vulnerable to robbery attempts. Your insurance premium will, therefore, reduce, owing to this fact. 
  4. Register in an automobile association: Members of registered automobile associations get motor insurance discounts. So enrol yourself in any recognized Indian auto association and get some great discounts on your 2 wheeler insurance premium. 
  5. Calculate the NCB and IDV properly: The next tip for you is to calculate your no claim bonus (NCB) and IDV properly. These two components play a very important role in bike insurance. You will stand to get heavy discounts when the NCB and the IDV are calculated properly. This will happen mainly when you go in for your two wheeler insurance renewal online. 
  6. Approach your existing insurer: Most people have existing insurance covers such as health insurance plans and home insurance plans. If you have some general insurance plans from a specific insurer, speak to them before you by your two-wheeler insurance plan. Many insurance providers offer loyalty benefits to their customers. If you do get some benefit, it will lower your two-wheeler insurance premium for sure. 
  7. Renew on time: And finally, you should never forget to renew your bike insurance cover on time. Opt for two wheeler insurance renewal online. It is very easy to renew your plan. You can do this in a matter of a few minutes. So never let your policy lapse as then you will unnecessarily end up paying a late fee. This will increase your bike insurance costs. 

In a nutshell 

As you can see, there are indeed some very effective ways in which you can lower your 2 wheeler insurance costs this New Year. This will help you to stick to your budget and will take you one step closer to owning your dream bike. So without wasting any further time, head to your bike dealer’s store. Get a good bike. And along with that, get the best possible bike insurance plan and keep your precious vehicle safe and secured at all times.

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