Many people are not aware of the different ways in which they can save money while buying bike insurance plans. The simple thing you need to do in this regard is to compare bike insurance plans from different service providers. As the competition in the market is very high, you can get a good deal from one of the companies. All you need is some patience and knowledge about choosing the best plans suited for your bike. In this article, you can find some interesting tips which will help you to reduce your bike insurance expenses in future.
Save money with third party insurance
Remember that the insurance policy can only compensate for the damages done and it cannot prevent the damage to your bike in any manner.
Many people are not aware of this option and they choose the conventional single year policy for bike insurance. Pixabay
Save money on expensive repairs with comprehensive insurance
Get quotes from different companies
Road accidents in India. Pixabay
Compare the features of various plans
Motorcycles and vehicles drive on a road while fog envelope the area (AP Photo/Muhammad Sajjad) (VOA)
Buy insurance online to save money
Choose multi-year plans for better discounts
If the added expense of a two-wheeler cover is worrying you, relax. Your bike insurance policy need not be expensive. pixabay
Avoid claims for small repairs
You should not make the mistake of making claims for small damages as this can affect your track record in the long run. Remember that even when you make claims for a few hundred rupees, it will be considered as a claim and you will lose out on various benefits in future.
Note that when you do not have any claims for the entire tenure, you can get good discounts for the next renewal. This can carry forward for many years and you will be able to save lots of money on the premium of the insurance policy.
Also Read: Top 10 Bikes With The Best Mileage in India
Install safety gadgets to get discounts on premium
This is one aspect that you should focus and it is neglected by many consumers who buy bike insurance in the market. Remember that the insurance policy can only compensate for the damages done and it cannot prevent the damage to your bike in any manner. However, you can take proactive action and install safety gadgets like theft lock and GPS tracking devices in your bike. In this way, you will be able to protect your bike and also get some discounts on the premium from the insurance company.
These are some of the best ways in which you can save money paid for your bike insurance. Apart from these, you can get some more ideas when you discuss your requirements with insurance advisors. You can also keep track of new features of various plans to know about the updated insurance options available in the market for your bike.