Riding a bike is undoubtedly one of the most exciting and convenient ways to travel, especially in congested urban areas. However, owning a bike comes with its own set of responsibilities, one of which is purchasing and maintaining a proper bike insurance policy. If you are planning to purchase proficient bike insurance, you can definitely opt for Bajaj Allianz bike insurance or Acko bike insurance online. These acclaimed insurance providers offer all-inclusive insurance policies that are highly beneficial for the customers.
The premium price plays a very important role in your bike insurance policy. Bike insurance can be expensive, and the premium rates vary depending on several factors, including the age and model of your bike, your driving history, and your location. However, there are ways to keep your bike insurance costs affordable.
In this article, we will discuss five tips to help you lower your bike insurance premium.
5 Tips to keep your bike insurance cost affordable.
Below are the pointers that will help you reduce your bike insurance premium price in the best way possible.
- Choose the Right Insurance Coverage
One of the best ways to keep your bike insurance costs down is to select the right type of insurance coverage. Typically, bike insurance policies offer two types of coverage – third-party liability coverage and comprehensive coverage. Third-party liability coverage only covers damages and injuries caused to a third party, while comprehensive coverage includes coverage for damages to your bike as well.
If you are purchasing a new bike, you can opt for the comprehensive insurance plan which offers you all-in-all coverage. But, if you have only specific needs, you can go for the third-party plan along with the add-ons that fulfil your requirements. The Bajaj Allianz bike insurance offers the most competitive prices in the Indian market. Also, if you own an older bike, you may consider opting for third-party liability coverage only as it will cost you less than comprehensive coverage.
- Compare Insurance Quotes
Once you pick out the right insurance type, it is essential to compare insurance quotes from different insurance providers to find the best deal. You can use online insurance comparison tools to get quotes from various insurance providers and compare them to find the one that suits your needs and budget. Moreover, you can also ask for discounts or special offers from the insurance providers to further reduce your insurance costs. Bajaj Allianz bike insurance, Aditya Birla two-wheeler insurance and Acko bike insurance online are some of the acclaimed bike insurance providers in India, that you can consider opting for.
- Increase Your Deductibles
If you want to lower the rate of your premiums, the first thing you need to do is to opt for higher deductibles. Deductibles are the out-of-pocket expenses that you have to pay when you make a claim. Usually, higher deductibles lead to lower insurance premiums. Therefore, you can consider increasing your deductibles to save money on your bike insurance premium. However, you must make sure that you can afford to pay the deductibles if you must make a claim.
Another thing you should do to reduce your bike insurance cost is by maintaining a higher No-claim bonus. Avoid filing for petty claims to sustain your NCB in the long run. The higher your NCB the higher discounts you can get on your premium. Also, you can easily apply for the best Acko bike insurance online from the comfort of your home in an easy manner.
- Maintain a Clean Driving Record
Your driving history plays a crucial role in determining your bike insurance premium. If you have a clean driving record without any accidents or traffic violations, your premium rates will be lower. Therefore, it is essential to maintain a clean driving record to keep your bike insurance costs affordable. Moreover, some insurance providers offer safe driving discounts to policyholders who have a history of safe driving. If you have any doubts regarding such insurance policy offers, you can directly contact Bajaj Allianz bike insurance customer care to get them relieved.
- Install Anti-Theft Devices
Bike theft is a common problem, and insurance providers charge higher premiums for bikes that are at a higher risk of theft. Therefore, you can install anti-theft devices like a GPS tracker or an alarm system to reduce the risk of bike theft. Not only will these devices make your bike more secure, but they can also lead to lower insurance premiums.
Owning a bike can be expensive, but by following these five tips, you can keep your bike insurance costs affordable. Choose the right insurance coverage, increase your deductibles, maintain a clean driving record, install anti-theft devices, and compare insurance quotes to find the best deal. By doing so, you can enjoy the thrill of riding your bike without worrying about high insurance costs. Get the Acko bike insurance online today!