Most people who buy a bike buy it for the thrill of the ride. They love the open air, the rush of the accelerator, and the manoeuvrability. However, to ensure that you keep enjoying your bike, insurance is a must. One of the best ways to buy bike insurance is by looking for bike insurance online plans.
Taking insurance lightly can come back to haunt you. That’s why you need to devote time, money, and effort when purchasing your bike insurance, especially since purchasing insurance isn’t a hassle any longer. Look for the top bike insurance online plans and start comparing their features to get started.
Safeguard Your Bike with the Right Insurance
The key to finding the best bike insurance online plans is identifying your requirements. Once you know the kind of traffic, natural calamities, and repair cost you face, you can find your ideal plan accordingly. Here are a few things you need to avoid while purchasing a bike insurance policy:
#1 Not comparing policies
One of the fundamental aspects of making any purchase decision is doing the research beforehand. After identifying your needs, you need to compare the top bike insurance online plans. This will help you analyse which policies suit your requirements well and which insurance providers are the safest bet to go ahead with. Moving into a contract without comparing bike insurance plans and policies can turn out to be costlier in the long run.
#2 Opting for cheap insurance
Most people tend to think of insurance as a secondary requirement. As a result, they keep aside a very minimal budget for bike insurance. However, cheap insurance is not always the best insurance. In fact, in some cases, cheap premiums just indicate the lack of responsibility lying with the insurance company. So, next time you’re buying bike insurance, take into consideration other factors as well.
#3 Ignoring the exclusions list
While researching insurance policies, do not forgo the chance to go through their exclusions list. Assuming that all companies provide the same coverage is foolish. In fact, most companies differ in terms of add-ons and coverage. Reading the exclusion list will help you identify which events and contingencies are out of coverage for that particular provider. While some might not offer protection against natural calamities, others might be averse to covering consumables. It’s always best to know what you are getting into.
#4 Ignoring the No Claims Bonus
If you’re renewing your policy or looking to change your insurance company, chances are that you have No Claims Bonus (NCB). NCB is accumulated when consecutive years have passed without any claims. As such, this entitles you to discount on premiums. Whether you are changing your insurance company or upgrading to a better policy, the NCB can help you save on premiums.
Reasons to Get your Bike Insured
A new bike insurance online plan can protect you in more ways than you think. Here are some of the reasons why you should get your bike insured.
#1 Third-party liability coverage
Indian Motor Vehicles Act, 1988, mandates that all vehicles have at least third-party coverage. The third-party liability coverage provides compensation when your vehicle inadvertently hurts or injures a third-party on the road. At that time, the policy pays out the compensation on your behalf. That alone saves you from a lot of headaches!
#2 Provides financial protection
Imagine if you had to bear the cost of every small nick and bruise on your bike. Or if your bike crashed into another vehicle and you need to buy another bike again. These expenses can weigh in on a person’s pocket and severely hamper their bank balance. Having a comprehensive bike insurance plan saves you from all these expenses and financially protects you. Get your bike insurance online plan quotes on Coverfox.com today!
#3 Protects your bike
There are many out there who tend to overlook small damages since repairing them can still run up a bill in thousands. What that does, is affect the performance of your bike and slowly wears down its output. With bike insurance in place, you not only get to repair it without costs (or at minimal cost) but extend the longevity of your vehicle.
#4 Offers protection to riders
Many bike insurance online plans in 2018 offer protection for pillion riders and the driver of the vehicle. Your insurance not only protects the bike but also offer personal accident cover for those hurt in an accident. This helps you cover any impending costs for treatment.
Without insurance, you’re stuck paying for treatment out of your own pocket. That’s why bike insurance is not only helpful for the bike but also protects the riders. It relives of financial stress as well as provides personal protection in case of contingencies.