Becoming a proud owner of your first motorcycle is an amazing experience. As you must be aware, motorcycle insurance is compulsory as per the regulatory guidelines. A big question is how to get the best insurance coverage for your dream bike.
Steps to avail of the ideal two-wheeler insurance
1. Know About the Insurance Options Before You Buy a Bike
Certain types of bikes such as high-performance sports or rebuilt motorcycles need higher maintenance that makes it tough to procure insurance. Most insurers may not insure such bikes and the ones that do often charge a very high premium.
Often, most people first purchase their bike and then look for the best two-wheeler insurance cover at an inexpensive rate. To avoid any complications and disappointment, it is recommended you first figure out the available insurance options and then make your purchase decision.
You must take the time to research and inquire about different policies from various insurers and compare the quotes to make an informed decision. Do not make a hasty decision and get an idea about the prevalent premiums. Therefore, before investing in the bike, know your exact needs.
2. Choose the Optimal Cover
If you are unfortunate, then you may face roads which are in extremely poor conditions and therefore, it is recommended to avail of complete coverage for your bike along with the basic third-party cover. Even if you are a skilled rider, you cannot anticipate the driving skills of other people.
Third-party insurance covers bodily injuries and damages caused to third-party property in case your bike is involved in an accident. In comparison, a comprehensive policy covers third-party liability along with damage to the bike arising due to an accident or manmade and natural calamities.
Additionally, your insurer perceives you as low risk. This helps in reducing the premium on the two wheeler insurance policy.
3. Get Add-ons for Extra Cover
In addition to the basic coverage, you may require some add-on features as well. Add-ons like zero depreciation offer wider coverage and ensure you do not have to bear any loss due to depreciation in case of a claim.
If you are a new rider or if your bike is not older than five years, it is recommended you avail of additional coverage through extra features even if it means paying a slightly higher premium.
4. Be Aware of the Terms Involved and Factors That Affect Your Premium
Several factors affect the premium payable on two wheeler insurance. Moreover, the policy documents have several terms and conditions and knowing these is crucial.
The entire procedure to file an insurance claim is quick and simple. You must register the claim and then send your bike for repairs. Next, you must submit the necessary documents. Finally, the insurer processes your claim and is settled.
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