How to get good discounts on your bike insurance?

Posted by Sharvi Ahuja on April 25th, 2019

Discounts, offers, sales – these magical words bring a smile on everyone’s face. Owing to the increasing rate of inflation in the existing economy, anything that implies cost saving is a boon, isn’t it? What if you could acquire all that you require at pocket-friendly rates? Wouldn’t that be just the thing you need? As a bike owner, you couldn’t agree more that cracking a good deal when it comes to buying bike insurance is an important yet tedious task. While you cannot skip buying an insurance policy for your two-wheeler, if you intend to use it for regular commute; earning good discounts on the insurance premium will give you a sense of achievement. Here are 3 ways of bagging great deals on your bike insurance premium:

•        Go digital – One of the most crucial factors that differentiate the conventional insurance marketplace from its online counterparts is cost. Firstly, the online market increases the scope of comparison. You can conveniently compare different types of bike insurance policies online and choose the one that best meets your cost requirements. Alternatively, there are various insurance companies that offer exclusive discounts for purchasing policies online. 

•        Choose a long-term policy: Previously, two-wheeler insurance policies were limited to a tenure of one year. However, with recent amendments in the IRDAI policies, several insurance companies are providing long-term bike insurance policies for 2-3 years at attractive premium discounts.

•        Install security devices: An insurance company is liable to pay for any damages caused to your bike. Therefore, if you install security devices on your vehicle and enhance its safety features, it satisfies the insurance provider.  Most insurance companies reward such efforts by offering you premium discounts on the bike insurance policy.

Thus, buying bike insurance need not be a mundane job anymore. Instead, you must explore the digital platform and make the most of its transparency to bag the best deals on your insurance purchases.