How Does Bike Modification Impact Two-Wheeler Insurance Premium

Why Buy Two-Wheeler Insurance?

Whether you agree or not, driving a two-wheeler is always riskier than driving a four-wheeler vehicle. You as a two-wheeler driver put not just yourself, but others on the road, and your vehicle in danger every time you drive your bike or two-wheeler. To minimize the risk associated with a two-wheeler owing to an accident, injury, loss, or third-party liability, bikers are supposed to buy a two-wheeler insurance.

These days, all reputed insurance companies provide two-wheeler insurance online. It is their way to encourage more and more people to opt for bike insurance in a hassle-free manner with minimum or zero paperwork. Before buying two-wheeler insurance, make sure you calculate the premium amount to be paid using a reliable online two-wheeler insurance premium calculator.

What is Bike Modification?

Sometimes the bike a person buys doesn’t fit well in terms of performance or aesthetics. Sometimes, if both these parameters are satisfactory, the biker is worried for the bike to get stolen. So, the one solution to all these three problems of performance, aesthetics, and robbery, is an appropriate bike modification. With a slight modification to the bike, the vehicle can satisfy you in terms of performance and aesthetics. Moreover, with genuine security systems, you can prevent the chances of your bike robbery. Such is the importance of bike modification for a modern-day biker.

Types of Legal Bike Modification in India

Now that you know what bike modification is, it is time you also learn about the different types of bike modification in India. Legal bike modification in India can be of three main types and they are:

1. Performance Modifications: 

The most common bike modification that a biker usually opts for is in terms of performance. In order to speed up and improve the performance of their bike, bikers install speed-increasing mechanisms and adjustments to their bikes. Naturally, an increased speed of the bike increases the chances of an accident too. So, as per the bike modification rules in India, the rate of bike insurance tends to increase for such bike modifications.

2. Aesthetics Modifications: 

Many biker buy a bike but later feel unhappy about the appearance of the same bike. They then opt for aesthetic modifications for their bikes and either install a new seat cover, add headlights, or even change the bike color. With an enhanced look, the chances of stealing the bike increase. As per the general RTO rules for bike modification, when there is an increase in the chance of a bike robbery due to aesthetic bike modification, the cost of bike insurance also increases.

3. Security Modifications:

The third common type of bike modification that bikers get for their bike is a security modification. For every biker, a bike is a prized possession and he/ she doesn’t want it to get stolen away. Thus, they opt for installing the best security systems like high-tech alarms and locks. Those who opt to install ARAI or Automotive Research Association of India certified anti-theft gadgets and systems on their bikes are in a win-win situation. With these gadgets, the chances of their bike robbery decrease, and so does the rate of bike insurance. However, as we said this applies only if the security systems are ARAI-approved systems.

Impact of Bike Modification on Two-Wheeler Insurance

You just got an idea of how bike modification can impact your two-wheeler insurance. With every big or small bike modification, there are chances of an increase or decrease in your two-wheeler insurance premium amount. However, remember that not all types of bike modifications alter the rate of your two-wheeler insurance premium. Some of the ways in which a bike modification may alter your two-wheeler insurance are:

1. ARAI-Certified Security Systems: 

Surprisingly, some bike modifications tend to even decrease your premium amount, like installing ARAI-certified security systems on your bike. These systems lower the chances of bike robbery, and as a result lower down the insurance premium rates too.

2. Bike Modification for Disability: 

Similarly, if you modify your bike for some disability reason, chances are that the insurer won’t increase your premium amount. There is a possibility of the insurer offering you some discount on your two-wheeler insurance premium for a bike modification for disability reasons.

3. Bike Insurance Rate Increases with Increased IDV: 

Another thing to note is that whenever a bike modification increases the IDV or Insured Declared Value of your bike, the insurance premium is going to increase for sure.

Best Two-Wheeler Bike Insurance Companies

Here is a list of the best two-wheeler bike insurance companies that may alter the insurance premium rate based on your bike modification:

• Bajaj Allianz Two-Wheeler Insurance
• Bharti AXA Two-Wheeler Insurance
• Digit Two-Wheeler Insurance
• IFFCO Tokio Two-Wheeler Insurance
• Kotak Mahindra Two-Wheeler Insurance
• National Two-Wheeler Insurance
• Reliance Two-Wheeler Insurance
• Royal Sundaram General Insurance
• SBI General Insurance
• The New India Assurance Two-Wheeler Insurance