Motorcycles are popular transportation in India. They are also a source of income for many people. Therefore, bike owners must protect their vehicles from accidents and thefts. People should consider purchasing bike insurance online before buying a motorcycle since this reduces the financial risks involved with owning one. Your third-party bike insurance online covers damages caused by accidents and legal liabilities incurred to the other person involved.
If you frequently use your bike and need more extended coverage, you can always opt for comprehensive bike insurance that covers all the damage. You can also purchase add-ons along with your third party bike insurance online. Check out all the existing plans today.
Here are some 10 unique ways to save more money on bike insurance. Keep reading to know more!
Pick the right plan:
When it comes to procuring bike insurance online of any kind, the most significant thing is to suitably probe and equate before picking up a plan for yourself. The same supposition applies when you’re purchasing a two-wheeler insurance policy. For sample, if you enjoy a bike and ride it daily, your coverage should also be higher. However, you can also buy your third-party bike insurance online liability plan and save on your premiums, if you’re someone who uses your vehicle now and then.
Refined premiums for the electric bike:
This goes without uttering that the more ultra-expensive your bike, the more advanced the premiums. However, you should surely be prepped to pay refine premiums for it as well if you choose the electric bike models. But, if you are looking to save money on premiums, make sure to get the non-electric bike which is comparatively economical. Hence, it’s recommend that you always buy a bike that ideally suits your price range if you want to save on premiums.
Should avoid small claims:
Avoid filing claims for small vehicle maintenance. If your motorbike needs some kind of repair or examination which you can pay from your pocket, it is suggest that you do so. Many bike insurance online companies offer their clients the No-Claim Bonus (NBC) if they have not filed any claims for a substantial period, which in due course helps the individual save on his/her money. Making small claims means that you as a client are missing out on those paybacks.
Clean driving record:
Follow rush-hour traffic rubrics to uphold a clean driving record and ensure your safety and the safety of the other persons riding with you. This can help you in receiving sure discounts on your third-party bike insurance online premiums, thereby saving money ultimately.
Raise your deductibles:
Deductibles are the sum you wage for mending or repairing your bike. For example, suppose you can manage to pay for the charge of repairing your vehicle. In that case, you can do so which will ultimately benefit you as advanced deductibles mean lower outstanding premiums. It’s also vital to take overhaul that if the rate runs too high, expenditure from your deposit downfalls the veritable purpose of having coverage. Hence, order your deductibles accordingly.
Ask for discounts:
While buying or reviving your plan, you can request your policy provider for your third party bike insurance online discounts. Insurers do offer concessions on your premiums concerning your age. You can get discounts if you are a long-term client with an insurance provider.
Prefer annual payments:
Some insurance companies are known to bill a reduce amount if you pay your premiums annually instead of paying them on a once-a-month basis. Hence, pay your levies at the end of the year, and also it is hassle-free as you don’t have to worry about paying your premiums every month.
Installing bike security systems:
Suppose you are fitting a security system in your motorbike to guard it against burglary, destruction, or mutilation of any kind. In that case, the insurance company may give you a reduction on your premiums. It is constantly appreciate if you are making an extra effort to take care of your vehicle, which eventually means that the likelihood of you filing a claim declines substantially, making the insurance providers offer discounts on premiums.
Renew before the expiry date:
It is always endorse to renew the bike insurance policy online before the end date as it confirms that there is unremitting coverage and allows you to save on extra charges that you may get due to the examination of your vehicle post the expiring of your third party bike insurance online.
Choose long-term policy:
Purchase the bike insurance online with a longer tenancy and thus save on your premiums as it remains locked in for the longer period throughout the plan will be in force.