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Why Compare?

What’s the point in sticking to your current policy, if there are better options available? 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.
Saves MoneyWhen 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.
Makes You Aware of the CoverageTo know what all covers are available, you must compare the different policies available. You, thus, don’t settle with a limited or inadequate cover.
Cautions You about the ExclusionsWhen you read the policy’s fine print, you are well aware of the liabilities that aren’t covered.
Steps to Compare Bike Insurance
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.
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 BestGet 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 You NeedNo 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 HistoryCheck 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 ExclusionsThe 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 DeductibleA 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.
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ACKO White LOGOAcko General Insurance Ltd.Unit No. 301, 3rd Floor, E wing, Lotus Corporate Park, Off Western Express Highway, Jay Coach, Goregaon East, Mumbai 400063.Email: [email protected]Phone:1800 266 2256 (toll-free)
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