Apart from being just a mode of transportation, biking is much more than that; it’s an adventure, a lifestyle and a hearty passion for many. Whether you, as the owner of the bike, ride it just for leisure or commute via it on a daily basis, safeguarding via bike insurance online is quite an essential and crucial step in protecting your hard-earned investment.
However, there is no doubt in the fact that insurance premiums can sometimes feel overwhelming. No need to worry! There are tons of strategies to lower your bike insurance premiums while ensuring comprehensive coverage.
What exactly is bike insurance, and why can’t you avoid it?
As the term implies, it is a financial protection plan designed specifically for two-wheelers. It offers coverage against various risks and liabilities associated with owning and riding a bike.
In our country, if you own a two-wheeler, then owning vehicle insurance along with it is mandatory by law.
1. Legal Requirement
In India, having this insurance is a legal requirement. This coverage ensures that if you cause an accident resulting in injury or damage to someone else’s property, your insurance helps cover the associated costs.
2. Financial Protection
Bike insurance offers financial protection against unforeseen circumstances. Accidents, damage or theft of your vehicle can result in hefty repair or replacement costs. Therefore, this insurance, which can easily be availed via an insurance download app, covers not only third-party liabilities but also damages to your bike due to accidents, natural disasters, theft, or even vandalism. Keep in mind that if you don’t have insurance, you’d be personally responsible for these expenses.
3. Personal Security and Safety
Insurance doesn’t just safeguard your bike; it also ensures your personal well-being and that of others. Accidents involving bikes can result in severe injuries or even fatalities. Comprehensive insurance covers damages to your vehicles and medical expenses for injuries sustained by you or others involved in the accident.
Tips for lowering your premiums
● Shop Around and Compare
Don’t settle for the first insurance quote you receive. When I was looking for bike insurance online, I was on a hunt as I was flooded with many options on the internet. Finally, I opted for the one offered by Bajaj Finserv. Just a few taps, and I was good to go without even going anywhere.
● Maintain a clean driving record
A history of safe driving with no claims or accidents can lead to discounts through a no-claims bonus. Insurance providers reward riders who maintain a clean record by offering reduced premiums upon the renewal of the policy.
(Note: Safe riding habits go a long way in keeping premiums affordable.)
● Increase Security Measures
Enhance the security of your vehicle by installing anti-theft devices such as alarms or GPS trackers. With this, insurers tend to offer discounts for bikes less susceptible to theft or damage.
Conclusion
Affordable bike insurance or car insurance online is simply attainable through the proper strategic measures without compromising on protection. By understanding the factors influencing premiums and implementing cost-saving strategies, riders can easily secure comprehensive coverage at the best rates.
