When you compare, you get an idea about the prevailing premium rates of various companies. This way, you don’t end up paying more than what is required.
To know what all covers are available, you must compare the different policies available. You, thus, don’t settle with a limited or inadequate cover.
When you read the policy’s fine print, you are well aware of the liabilities that aren’t covered.
Get two-wheeler insurance quotes from different insurers. While doing so, pay attention to the covers that they offer. Company X might have the lowest quote; however, it may not meet all your insurance requirements. So, it is important to compare the offerings of other companies as well before you take the final decision.
No two plans can be the same. Some give you a basic cover, while others have an extended coverage. Also, there are Add-ons to enhance your bike’s insurance cover. While comparing, keep in mind the coverage and the Add-on covers that suit your needs.
Check for the efficiency of the insurer when it comes to claim settlement. You could read customer reviews, grievances and the solutions offered on their websites. Also, check their claim settlement ratio of the past years.
The real details lie in the policy coverage and exclusions. It is important to go through the list of what’s included and what’s not included in your two-wheeler insurance policy. These can give you an idea whether the insurance plan is worth it.
A deductible is that portion of the repair bill that you pay from your pocket at the time of claims. A certain amount is charged as compulsory deductible at the time of claims. You could opt for a ‘voluntary deductible’, which is the amount you agree to pay before the claim is settled.
By opting for this deductible, you could lower the premium to some extent. However, this affects the claim amount you receive from the insurance company. So, make sure you take the deductible amount into consideration while comparing quotes.
Comparing various insurance policies before finalising one for your two-wheeler is the need of the hour. It ensures that you get the required coverage at an economical premium. Thus, providing you a financial shield after a mishap or accident involving your two-wheeler.