Looking to manage bike insurance costs without compromising coverage?

The process can be simpler and easier with a few informed choices. Comparing policies, choosing suitable add-ons and maintaining a claim-free record can impact the premium amount. Also, a bike insurance calculator can help estimate premiums based on factors such as the bike’s age, coverage and add-ons.

Understanding these concepts helps in better planning during purchase or renewal. Continue reading to find the right bike insurance by following an appropriate approach.

5 Tips to Save Money on Your Two-wheeler Insurance Premium

To manage your two-wheeler insurance premiums, on-time policy renewal, right coverage and selection of policy features also matter. Here are the tips to follow to save money on premiums:

Compare Insurance Policies

Comparison of insurance policies is mandatory before buying or renewing two-wheeler insurance. Compare premiums with coverage, IDV, deductibles, exclusions and available add-ons.

The cheapest insurance option might not provide adequate coverage. Comparing available plans during bike insurance online helps you choose the right option with comprehensive protection.

Select Appropriate Add-ons

Add-ons are additional coverages that typically raise the premium. Select add-ons matching the bike’s age, usage and requirements. Some add-on options include zero depreciation, helmet cover or other available options, depending on the insurer.

By checking the benefits, exclusions and additional costs of each add-on, you can avoid paying for additional covers that might seem irrelevant.

On-time Renewal of Your Insurance Policy

Renew the policy prior to the expiry date to ensure continuity of policy coverage. Renewal can also help maintain specific features of the policy, that includes the No Claim Bonus, subject to policy terms. The renewal facility allows individuals to view details such as eligible NCB, current IDV and premium during renewal.

No Claim Bonus (NCB)

No Claim Bonus (NCB) is the discount offered on own-damage premium for a claim-free policy period. A claim-free record can allow you to avail higher discounts over successive renewals. NCB is mentioned as a discount on own-damage premium in IRDAI policy documents. Thus, avoid making claims without considering their potential impact on accumulated NCB.

Choose a Suitable Voluntary Deductible

A voluntary deductible is the amount a policyholder agrees to pay toward settling claims, in addition to the compulsory deductible. Opting for a higher voluntary deductible can result in reduced own-damage premiums in specific policies. However, it also increases the share of the claim cost borne by policyholders. So, choose an amount that you can afford to pay for when a claim arises.

Save on Bike Insurance with IndusInd General Insurance

IndusInd General Insurance provides two-wheeler insurance options depending on the coverage requirements and riding habits of the car owner. Policyholders can find the best plan, explore appropriate add-ons and choose the right deductibles while considering the premium.

IndusInd General Insurance also has online facilities to buy and renew bike insurance, making the entire process smoother and hassle-free. Review the policy details to choose the right coverage without even including unnecessary features. Before final policy purchase, check the premium, coverage, exclusions and terms to find a perfect balance between cost and coverage for your chosen bike insurance policy.

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