Why Compare?

What’s the point in sticking to your current policy, if there are better options available? Hence, by comparing two-wheeler insurance policies, you can make sure that the policy you’ve bought for your bike is the best deal in terms of price, coverage, and features.

Steps to Compare Bike Insurance

Offline

Approach the Insurance
Broker.

Provide all the relevant information such as your vehicle’s brand name, its engine specifications, its
value, etc.

The agent will come up with various quotes from different insurers after a thorough research.

Online

Check the websites offering comparisons online.

Enter all the information correctly. You must have your bike’s documents ready. Also, enter the Add-ons that you need.

Such information is run through different insurer’s website and you get a list of their quotes.

Things to Remember While Comparing Bike Insurance

The Cheapest May Not Be the Best

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.

Know What Covers Your Need

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.

Have a Good Knowledge of the Insurer’s Claim Settlement History

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.

Check the Exclusions

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.

Ascertain the Premium and Calculate the Deductible

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.