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Bike insurance starting ₹482
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Two Wheeler Insurance, also known as bike insurance, protects you and your bike against damages such as third-party liabilities, accidents, natural calamities, fire, riots, or theft.
While buying any insurance plan, the two important things to consider are benefits and the premium amount.
So, if you are buying a new bike insurance plan or looking out for a new bike insurance provider, comparing bike insurance rates is an effective way to get started.
To help you compare bike insurance plans, you can research through the offline and online mode.
|Compare Two-wheeler Insurance Offline||Compare Bike Insurance Online|
|Step 1: Approach the insurance agent to know about two-wheeler insurance policies.||Step 1: Check the company’s website or mobile app to compare two-wheeler insurance online.|
|Step 2: Provide relevant details such as the bike’s make, model, registration number, engine specification, etc.||Step 2: Enter all required information such as bike’s make, model, registration number, etc.|
|Step 3: The insurance agent will provide several bike insurance quotes from different insurance companies.||Step 3: Choose Insured Declared Value (IDV) and suitable add-ons such as Zero Depreciation, Engine Protect, Roadside Assistance, etc. Check quotes.|
As discussed above, the offline method can prove to be cumbersome and time-consuming. However, comparing insurance online is a quick and hassle-free process.
New-age digital insurance companies have made the process of buying bike insurance seamless, quick, paperless, and easy. Comparing Two-wheeler insurance online ensures that you get the required coverage at an economical premium.
You can learn about different coverages, benefits, the premium payable, exclusions, and factors influencing the premium amount in the comfort of your home. Comparing bike insurance online allows you to select a plan that best suits your needs.
By comparing bike insurance online, you have direct access to information such as insurance policies, benefits, premium, and many more. You do not have to depend on an agent to provide this information to you.
Instead of being influenced by an insurance agent or salesman, comparing insurance online offers more options. By comparing online, you can make an informed and unbiased decision while buying a bike insurance policy.
Bike insurance needs vary from one person to another. With a bike insurance premium calculator, you can consider different parameters (add-ons, IDV, purchase date, etc.) to get an idea about the payable premium.
The Comprehensive Bike Insurance plan provides exhaustive coverage as it protects you against third-party liabilities as well as damages to your car. However, it is essential to select the bike insurance policy that suits your requirements and offers maximum coverage at a low premium.
Below are some of the best tips to select the best two-wheeler insurance plan as per your budget and requirements:
Assess your requirements and budget before you start buying bike insurance policies. Select the policy that provides the right coverage based on the usage of your bike, your expenses, and other liabilities.
It is important to learn about your bike’s engine cubic capacity (cc) as it is one of the main aspects used to calculate the insurance premium. The higher the cc, the higher the premium and vice-a-versa.
IDV is the sum assured in case of a total loss or theft. As the bike ages, IDV declines due to wear and tear, which decreases the premium amount. The higher the IDV, the higher the premium.
Customize your plan with a wide range of add-ons. While you will have to pay a slightly higher premium, add-ons enhance your existing insurance policy. Select only those add-ons that add value.
Customer reviews offer an insight into the real-life experience of other customers. This will help you understand more about benefits and after-sales services offered by insurance companies, especially when you are confused.
Comparing bike insurance online is an effective way to know the premium. An online bike insurance calculator lets you change the values of IDV and remove/delete add-ons to see how the premium amount changes.
Many insurance companies are offering different types of bike insurance plans. It is advisable to check their background, check their claim settlement ratio to have a better understanding of the insurance company.
Follow the below steps to buy the two-wheeler insurance policy online:
Step 1: Visit the official website of the bike insurance company.
Step 2: Select your bike (e.g. Bajaj Pulsar).
Step 3: Enter the purchase year of the bike (e.g. 2018).
Step 4: Select if your existing two-wheeler has expired or not.
Step 5: View different plans for your bike.
Step 6: Select plan and choose from different add-ons covers such as Zero Depreciation, Engine Protect, Roadside Assistance, etc.
Step 7: Make the payment and receive the policy instantly into your inbox.
Here are a few tips to remember while comparing two-wheeler insurance:
While comparing premium, pay attention to the covers that they offer. Company X might have the lowest quote; however, it may not meet all your requirements. So, it is important to compare both coverage and premium before you make the final decision.
No two plans can be the same. Some give you a basic cover, while others have extended coverage. Also, there are add-ons to enhance your insurance plan. Keep in mind the coverage and the add-on covers that suit your needs.
It is the portion of the repair bill you have to bear while settling claims. You can choose higher deductibles, which will reduce premium but will increase the payable amount during settlement. Hence, compare the deductibles before buying the insurance.
Claim settlement ratio is the ratio between the number of claims received and the number of claims resolved in a financial year. The higher the claim ratio, the better the ability of the insurance company to settle claims.
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.
At the network garage, cashless facilities are available. Meaning, the insurance company will settle the bills directly with the garage. Hence, the wider the network, the better access to these garages to experience a cashless facility.
With ACKO’s online bike insurance policy, you can buy/renew your two-wheeler insurance plan in less than 5 minutes and enjoy an easy, quick, paperless, and trouble-free claims settlement process.
Below are a few of the reasons why to choose two-wheeler insurance by Acko:
Incredibly low bike insurance prices
Saves time and is super convenient
Zero-hassle claims experience
Quick Turn-Around-Time (TAT).
Approx. 97% claim settlement ratio for FY19-20
Certified and licenced by the IRDAI
More than 4.5 crore happy policyholders
Rated 5 stars by 95% of customers
Exceptional after-sales service - 1-hour pickup (for select cities), instant repairs and free doorstep delivery in 3 days.
Below are some of the common questions about comparing two-wheeler insurance:
FAQ for Comparing Bike Insurance Policies:
You can compare two-wheeler insurance policies either through offline or online mode. Refer to the above-mentioned steps to compare bike insurance.2) Can I get a copy of my insurance online?
Yes. You can get a copy of your insurance policy when you buy the plan. The policy document is instantly sent to your registered email address. Or, you could log in to your account to download the document.3) Can I produce a soft copy of the insurance?
The Government of India through the Ministry of Transport has launched DigiLocker, a platform where concerned authorities can issue the digital certificate to the policyholder. This can be produced while requested by concerned authorities. However, soft copies of bike insurance are not valid.4) Is online two-wheeler insurance valid?
Yes. Online bike insurance is valid in the form of a digital certificate issued by the authorities through DigiLocker. You can also produce the policy document received at your email address while buying the insurance.5) How to choose two-wheeler insurance?
Understanding your requirements is the first step while buying a bike insurance policy. With this, check benefits, coverage, after-sales service, claim settlement ratio, the credibility of the insurance company, the premium payable, IDV, etc. while selecting the right bike insurance policy that meets your requirement.6) Is buying bike insurance online safe?
With the advent of digital transactions, you can compare/buy/renew bike insurance policies online. However, while choosing the best bike insurance, you need to follow a few guidelines to buy the best plan that provides optimum coverage at a low premium amount. To select the best two-wheeler insurance, follow the above-mentioned guidelines.7) How to make changes to my bike insurance details after receiving the document?
You can send your request to the insurer’s email address or call their customer care team for further assistance. You may be asked to provide supporting documents for making the change.8) How to claim NCB (No Claim Bonus) Discount?
The NCB for the claim-free years will be used as a discount on the renewal premium. At ACKO, this discount can go up to 50%* also.9) What is the meaning of Insured Declared Value (IDV)?
In case your insured bike suffers total damage or is stolen, the total claim will be as per the IDV, which is the market value of the vehicle.10) What are add-on covers in bike insurance?
Add-ons are additional covers that protect your bike from risks that are not covered under the Standard Comprehensive plan. You can choose from Zero Depreciation, Engine Protect, Roadside Assistance, etc. to enhance your Standard Comprehensive plan. Read more about bike insurance add-ons here.
ACKO General Insurance Limited
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Category: Non-Life Insurance
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