Knowledge Centre

Do’s and Don’ts When Buying Bike Insurance Plans Online

Published on November 7, 2019, EST READ TIME: 5 MIN

There has been a spurt in number of people using bikes for their travel due to it’s comfort and mileage factors. As per recently passed Motor Vehicles (Amendment) Act 2019 and Motor Vehicles Act 1988 it is a mandatory requirement that all the motorists should have a valid motor insurance at all times.

With hectic lifestyle and increasing workloads people have been taken up buying bike insurance or renewal of bike insurance online in a big way. However there are certain considerations one has to keep in mind before buying or renewing bike insurance online. Let’s discuss them in brief.

Do’s When Buying Bike Insurance Online:

  • Understanding the types of bike insurance ie Third party Liability, Comprehensive Bike Insurance and Standalone Damage Insurance plan

  • Exploring, understanding and choosing the right Add-On’s, therefore you have to understand and choose between Add-On’s like Roadside Assistance, Return to Invoice, Zero Depreciation Cover, No Claim Protection Cover etc

  • Understanding the Insured Declared Value of your vehicle, it is the current valuation of your bike in the market after reducing the depreciation amount from it.

  • Thoroughly going through the inclusions and exclusions, whether you have the basic third party insurance plan or one with Add-On’s you need to understand the coverages offered and the exclusions to avoid disappointments at time of claim settlement.

Don’ts When Buying Bike Insurance Online:

  • Don’t go for a bike insurance plan that is cheaper, assess the coverage it offers, it is suggested that one opts for comprehensive bike insurance plan in comparison to third party liability plan

  • Renewal of insurance policies before their due date is of paramount importance, therefore do not wait till the last minute and get the renewal beforehand.

  • Like you never lie to a doctor or to one’s lawyer, you should not withhold details from your insurer, therefore whenever you purchase your bike insurance plan, state all the facts and present all the needed information.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales

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