Ways to Reduce Your Two-Wheeler Insurance Premium

Ways to Reduce Your Two-Wheeler Insurance Premium
  • Two-wheeler insurance is a legal necessity and an important investment for our security. However, rising rates of premiums make it tough to keep buying insurance.

    Premium is the amount you pay to avail policy coverage and the rates of premium offered are different, depending on your choice of insurance provider. However, all insurance premiums usually undergo an annual hike raising the amount you pay upon renewal of your policy.

    Thus, an active two-wheeler insurance is a priority but the upkeep keeps getting expensive overtime.
    However, high premium rates will not be your concern as long as you act smart and keep a couple of tricks up your sleeve !

    Here are 5 tips to help you save money on your premium :

    Buy and renew your two-wheeler insurance policy online. This gives you an option of comparing the premium rates offered by various companies and you can even avail discounts on your insurance premium. Online policies are a safe, hassle free and reasonable way to ensure that you get the best policy cover at the right price.

  • Invest in a Comprehensive Bike Insurance policy over a basic Third-party cover. Although , a comprehensive cover has a higher premium but it gives you the option of availing a No Claim Bonus (NCB) -an amount which accumulates over every claim-free year and is availed as a lower premium rate upon renewal. Combined with better coverage like a personal accident cover and riot damage to add-ons like roadside assistance, comprehensive bike insurance is always a better deal for you.
  • Renew your comprehensive bike insurance policy on time and in case of lapsed policy, renew your policy within 90 days of expiry to keep your NCB intact. This will help you avoid higher premium rates applicable to a new policy and secure you a premium discount upon renewal.
  • ┬áInvest in a long-term (multi-year) two-wheeler insurance policy which covers for a period of 3 years and protects against annual premium hike and even offers higher returns on your NCB.
  • While buying insurance or switching insurance providers, make sure you compare services offered under premium such as round-the-clock claim assistance offered by Bharti AXA so that you can extract the most out of your premium.

    In a nutshell, go online and get a lower premium rate on your two-wheeler insurance policy. This reduces the hassle of running around and standing in line at the insurance office only to get a cover with ‘additional convenience charges’, besides the already high premium.

A benefit of buying insurance online is there is no middleman and you can buy bike insurance almost instantly simply with your vehicle registration details and your personal mobile number.

With times changing and everything being a click away, take this chance to free yourselves from the burden of high premiums by buying comprehensive bike insurance online and never compromise on your safety again !