Find your suitable insurance plan
3293
3 min read
Buying two-wheeler insurance online can be a bit overwhelming for first-time buyers and even for policyholders with prior experience. While it is recommended to compare insurance plans before buying them, having some basic understanding will help you extract the most out of them. Here are some tips to help you get Two Wheeler Insurance Quotes Online:
Before you start to compare bike insurance plans, it is important to understand your requirements. You can either opt for a third-party liability policy or a comprehensive insurance plan. A third-party liability policy is usually lighter on the pockets but offers less coverage as well.
Similarly, though a comprehensive policy will set you back a bit more, it offers a lot for the price.
If you are someone who rarely uses their bike, a third-party liability policy would fit your requirement. On the other hand, if you use your bike day in and day out, a comprehensive policy is the way to go. With this basic understanding, you can compare insurance plans to get quotes online.
There is one fundamental parameter that you cannot skip when you compare bike insurance online. Insured Declared Value or IDV is essentially the current market value of your bike. In terms of traditional insurance policies, you can consider it as the sum assured.
In the event of a total loss, the insurer is liable to pay the IDV to the policyholder. As the age of a bike increases, its IDV will decrease and so will the premium. A policyholder has the liberty to play around with the IDV when they compare insurance plans, thereby increasing or decreasing the overall premium.
As you start to compare bike insurance plans, there is another factor that will pop up on your screen, add-ons. Add-ons or riders can enhance the capability of your bike insurance and help you customize the policy per your needs. As one needs to pay an additional premium for the same, it is recommended that you take a close look at riders.
Commonly used riders for bike insurance plans include zero depreciation cover, roadside assistance cover, etc. While it is not mandatory to opt for a rider, a smart choice can help you save money in the long run.
As you compare bike insurance online, there are a lot of benefits that you can avail of. For starters, you can secure a policy that will lighten up the mood of your wallet. As you view policies from different insurers, you can pick a policy with an adequate coverage that does not cost much. When you compare bike insurance online, you do not buy under the influence of an insurance agent, thus buying only what is needed. You also get to check the reliability of the insurance company.
Being aware of the basics of a bike insurance policy will aid you in the process of getting quotes online for your next policy.
Also read: What Is IDV In Bike/Two Wheeler Insurance and Why Is It So Critical?
Found this post informational? Browse PayBima Blogs to read interesting posts related to Health Insurance, Car Insurance, Bike Insurance, Term Life Insurance and Investment section. You can visit PayBima to Buy Insurance Online.
Visual stories
PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
A bike is the most convenient way to cover distances and make your commute smooth. It is fast on the road, easy to escape traffic,.
Apr 03, 2024
3 min read 
With lives becoming busier and more demanding, people are getting loaded with all sorts of burdens. These weights hamper the functioning of our brain and.
Sep 28, 2023 3 min read 
As a youngster with the pressure of studies and other activities, students might feel exhausted if they have to commute via public transport to college.
Sep 26, 2023 3 min read 
On average, 100 million bikes and 67 million cars are produced every year across the globe. With such a humongous number, you can assume the.
Sep 15, 2023 3 min read 
The performance of your bike or the way it runs depends on various things, including the quality of your two-wheeler tyres. Alloy wheels and spoke.
Sep 12, 2023 3 min read 
You cannot ride a two-wheeler without insurance, at least not without the mandatory third-party insurance. But what if the policy you bought for your vehicle.
Aug 18, 2023 3 min read 
Acquiring a new bike is an exciting time of your life. A bike gives you the liberty of mobility and a sense of confidence. However,.
Aug 16, 2023 3 min read 
For a rider, the sense of freedom while riding a bike is exhilarating. However, the thrilling adventures on the road can take an unfortunate turn.
Aug 02, 2023 3 min read 
Like in many countries across the globe, wearing a helmet is compulsory in India while riding two-wheeler vehicles. However, do you know the various helmet.
Jul 07, 2023 3 min read 
Until recently, Motorcycles occupied the two-wheeler segment in India. However, the trends are changing now with scooters taking over the market slowly and steadily. Let.
Apr 13, 2023 3 min read 
Mahindra Insurance Brokers Limited (A Mahindra Group Company) - Unit-202, A-Wing, 2nd Floor, Amiti Building, Agastya Corporate Park, Kamani Junction, LBS Marg, Kurla West, Mumbai - 400070. Tel: +91 22 66423800
Licenced by IRDAI License No. 261; License Validity : 17-05-2025; Category : Composite Broker; CIN : U65990MH1987PLCO42609 Member of Insurance Brokers Association of India (IBAI).
Insurance is the subject matter of solicitation.
For a seamless experience, use the latest version of Chrome/Firefox/Internet Explorer.
Copyright © 2024 Mahindra Insurance Brokers. All Right Reserved.
Get A Call Back