Renewing your bike insurance plan may seem like an extremely easy job to do. However, while on one hand it actually is simple, on the other, it is a job that needs to be done with caution. There are a few important factors that you must consider at the time of your bike insurance renewal. This will help you find the best cover at the best possible rate.
Measuring the value you get from your current provider v/s the new provider
When you start the process of bike insurance renewal, there is just one question that you should ask yourself – is your current insurance provider giving you the best value for your money? Or is there a better bike insurance plan available out there? If there is any doubt in your mind regarding your current plan and insurer, it would be a good idea for you to make a switch. Thankfully, there are many bike insurance providers in India who have some wonderful plans on offer. You will surely find a good plan at an impressive rate. You will then end up with more value from your two wheeler insurance cover.
Finding the best bike insurance plan
How does one find the best plan at the best rate? Well, it is very simple – all you need to do is compare. Just run a quick comparison between the available plans and you will be able to find the most suitable cover. It is however important for you to note here that the best plan is not the cheapest plan. The ideal bike insurance cover should have the highest number of features, the insurance provider should have a good claim settlement ratio and the claim process should be simple too. Of course, you do need to keep an eye out for the price, but that should not be the only factor to choose your bike insurance.
Tips for Hassle free renewal
As already mentioned, there are some factors you need to consider to find the best bike plan. Listed below are the points one must remember for a hassle free bike insurance renewal:
- Get the correct type of cover: There are two types of two wheeler insurance covers – the third party and the comprehensive insurance covers. You need to understand what each kind of cover offers. Once that is done, you will know which cover would suit you better and you can renew your bike plan accordingly.
- Be careful when renewing: You have to be very careful when renewing your car insurance plan. Do not make mistakes in the application form. Also, be truthful and make mentions about your vehicular details, driving records, claims, etc. If you are dishonest in your application, your claim may be rejected later on.
- Look for your plan online: This may sound like a very straightforward tip, but it actually is one of the most important and effective ones. Always look to renew your bike insurance plan online. The renewal can be done in a few minutes. Apart from this, comparing the available options also becomes easy. There are many bankable websites where you not only get to compare but also renew the bike insurance plan in a few minutes. And last but not the least, the price is also lower for the online bike plans so you save money in the process.
- Check for discounts: Apart from the no claim bonus, also look for other discounts that you may be eligible for. If in the past year you installed any safety gadgets in your bike, you should expect a discount from your insurer. So, dig deep and see how you can lower your premium during your bike insurance renewal.
Keep these tips in mind and you will not end up with an unsuitable cover when renewing your bike insurance policy.
The bottom line
For a smooth bike insurance renewal process, keep all the points mentioned above in mind. You just need to spend a little time when renewing your insurance plan. Rather than blindly continuing with your existing plan, run a quick comparison to see if a better option is available. Once you locate your ideal cover, submit an error-free application, make the payment and the cover will be yours instantly.