Two-wheeler insurance is not a novel term anymore pertaining to the rising competition among insurance companies. There is a legal obligation upon two-wheeler buyers to get insurance as well, however, seldom of them even continue with the renewal of their two-wheeler insurance policy. A recent study revealed that only 40% of the two-wheeler owners renew their insurance plans while they deliberately miss on the renewal date without being aware of the coverage their insurance plans offer.
A common notion among two-wheeler buyers exists to save the premium amount on the renewal of their policy and to avoid the hassle of the motor inspection process. This is not a rare concept, since, according to the insurance regulator data, 75% of two-wheelers on the road are not insured despite strict laws.
Considering these facts, insurance companies have recently come up with feasible options to offer best insurance plans for two-wheeler owners. There are several ways to compare the two-wheeler insurance plans and get your insurance updated without any hectic process.
How You Can Compare Two-wheeler Insurance Almost Instantly
Buying a two wheeler insurance policy can be confusing since there is a wide range of insurance providers in the market with widespread plans. However, there are certain companies that offer you viable insurance solution while giving you the unbiased comparison of the best insurance policy for your bike. Here are a few comparison tips:
- What is your insurance need?
First and foremost, identify your insurance need. What kind of insurance do you require for your bike? Are you seeking the third-party insurance or the comprehensive plan? It is essential to clearly identify your needs before making a move as it will help to make the right comparison.
- Identify the Premium Costs
Another thing to consider is to research the insurance premium costs for two-wheelers. The premium costs depend on a number of factors such as bike make, model, registration location, no claim bonus if any, etc. . Make a comparison of insurance premium costs offered by different insurance agents to find which one is compatible with your needs.
- Utilize the Comparison Platforms
You can instantly calculate your two-wheeler insurance premium online through the comparison platforms. You can easily use these platforms where you enter your vehicle details and find the most relevant options to provide you two-wheeler insurance quotes. It will not only help you find the best insurance providers but will also let you identify the most suitable insurance policy according to your requirements.
5 Ways You Can Get More When You Compare Two-wheeler Insurance While Spending Less
There are various tips to compare two-wheeler insurance plans without incurring additional costs.
- Compare Two-wheeler Insurance Online Instantly:
As opposed to the offline comparison, online insurance comparison is much quicker, cheaper, and convenient. All you have to do is find a reliable insurance broker’s site where you can compare two-wheeler insurance online from different companies without any biases.Coverfox.com is one such online broker’s site offering you cheap alternative as there are no middlemen to recommend you policies based on their own vested interests.
Online insurance comparison sites are less complicated as you are not required to have a lot of documentation as well as you can skip the vehicle inspection and get the best quote for a two-wheeler insurance.
- Get the Discounts on your Policy:
You can also get discounts on your insurance plans when buying an insurance policy. There are various low-cost premium options available such as no claim bonus on renewals, low-cost installation of an anti-theft device, or voluntary deductibles. Once you have identified the best insurance company, you can discover their discount options or get the insurance plans that are less costly. Companies usually have ready-made plans, however, due to tough competition, they can offer discounts on your desired insurance policy.
- Wise selection of Bike:
Choose the bike wisely such as the model, brand, mileage, cubic capacity, and fuel efficiency; all these factors contribute to greater premium costs. Hence, if you make a smart choice on your bike, you can easily get a reasonable premium rate while comparing the insurance policies by different insurance providers.
- Go for Expert Advice:
Gather information regarding insurance policies by discussing with the insurance experts. Do some research on latest insurance trends, the updates on insurance laws, and what could be the best possible solution for a two-wheeler.
- Get answers from Social Media:
Social Media is the new trend to resolve any query. It is a common platform for users to discuss their queries regarding a product or service because there are genuine users who can share their personal experiences regarding a product or service. Hence, it is also a viable option to find the most suitable two-wheeler insurance options. You can either discuss in a relevant group or simply read customer reviews about different insurance companies on their pages.
In essence, it is unacceptable to blindly buy an insurance plan solely on the basis of low premium costs. It is important to consider all the relevant factors involved in finalizing the best insurance policy for a two-wheeler. Hence, comparing the insurance policies by various factors such as benefits, inclusions, exclusions, insurers, etc. are few of the critical steps in buying the most suitable insurance plan for your bike.