Caring is deeply ingrained in humans. Be it for a living being or things that you have an attachment to. This is particularly true in the case of vehicles, especially the old ones. Often you notice the first vehicle for a new learner is generally a passed down one. Since you have memories with that bike for a long time, you naturally care for it. This care not only is limited to maintenance but also extends in form of an insurance cover.
When you have an old two wheeler, insurance is not only a legal compliance, but also a must-have backup plan. With an old bike, insurance becomes the need of the since it is more prone to repairs and damages. Further, the depreciation starts from the moment you purchase it and thus having a comprehensive bike insurance with zero depreciation plan feels essential.
Why is it essential to purchase two wheeler insurance online for old vehicles?
Buying old two wheeler insurance online will help you protect your vehicle against the risk of following -
What should you look for when buying old bike insurance?
- Damages due to fire out of your control.
- Theft of your two wheeler.
- Third-party liabilities that may arise due to accidents causing property damage.
- Injuries caused by accidents to a third person resulting in liability.
When you are on the hunt for old bike insurance
, the comparison should be the first step. With a myriad of old two wheeler insurance policies to choose from, selecting one can be tricky. Many factors need to be considered simultaneously so that you get a suitable coverage for your old bike insurance policy.
Coverage of your policy:
With varied options of old bike insurance online, buying one that meets your coverage requirement is necessary. For instance, your bike is a high maintenance machine requiring frequent repairs. At such times, having an insurance policy that checks all your insurance needs is essential.
Insured Declared Value or IDV:
Comprehensive insurance policies permit the policyholder to set the IDV within a predefined range. Understand what is IDV
and its impact on your insurance premium too.
It is essential to read the terms and conditions of your policy before buying. These terms can at times be a deterrent to your final purchase. Thus, make sure you thoroughly read the policy document when buying old bike insurance online.
Checklist when availing old two wheeler insurance online
The following checklist describes the areas you need to consider before buying old two wheeler insurance.
Your bike’s utility:
Understanding your bike’s utility is essential before you select an insurance cover. Not all bikes are made equal and once they age, they are further limited in its use. So, understand the use of your bike and accordingly invest in an insurance cover.
Compare the policies:
Comparing the different plans will help you make a smart choice of insurance cover. A bike insurance calculator
is a nifty tool that can guide you to make a suitable selection of policy cover. Different plans have varying terms and conditions that although might appear the same but differ slightly.
Understand the insurance cover:
Understanding the terms thoroughly can help in selecting an old bike insurance plan that suits you best. With a plethora of insurers that you can select from, making the right choice is crucial.
These are some handy ways that can simplify your old bike insurance policy purchase. Make sure you select a comprehensive plan that offers an overall coverage for own-damage along with a cover for third-party liabilities.