2019 Bike Insurance Policies – What Should You Look Forward Too

Buying insurance policy is one of the important decisions that every two-wheeler buyer has to after buying the bike. The decision has monetary implications but more importantly, it sets the tone for the safety and security cover that one receives with a particular insurance policy and plan. There are a number of insurance companies in the market and it is important to choose the right company which offers insurance plan to best suit your insurance needs.

With a plethora of choices around, it’s quite natural to get confused about what kind of policy one should buy; what should be the tenure of the policy; whether to buy a policy online or offline; which one is the preferred option – comprehensive or third party etc.

We dig deep into some of the bike insurance’s important issues to help you make an informed decision. Today there are a number of good companies in the insurance sector and thanks to the heightened competition; the customer is emerging as real king in the battle for the market share. To acquire new customers and to retain the existing ones, insurance companies are coming up with customer-oriented solution. A comprehensive two-wheeler insurance plan protects the vehicle against any kind of damage, theft, or loss and is considered a far better option than the third-party insurance which only provides protection against the third party losses.

Today we have the option of buying a long-term insurance policy which can provide the protection up to 3 years in a single premium. There are a number of benefits associated with long term policy package. Firstly, the customer will get insurance cover of up to 3 years in a single premium and bundled with the comprehensive coverage, one gets the complete protection for the bike, its accessories, and other possible damages to the third party and life.

However, the most important benefit of having a long term policy package is its ability to insulate customers from the effects of inflation. Even if there is an increase in the premium, the customers will not be required to pay any extra penny for the increased cost. Also, having only one policy document for a longer period of up to 3 years will make it easy for the owners to maintain the records. In sum, the buyer opting for comprehensive coverage and long term policy support is assured of the complete peace of mind.

Suzuki V-Strom 650XT_Champion Yellow _2019

With the Insurance Development Regulatory Authority (IRDA) keeping a close tab on the functioning of the insurance companies, there has been a sea change in the way insurance companies today work and deal with the customers. The enhanced transparency has been manifested in many new practices and the convenience of transferring no claim bonus (NCB) is one such practice. Insurance companies offer the NCB transfer facility to lure the existing customers of other companies and the practice has turned out to be quite effective. Further, many insurance companies extend the buyers a facility to make one claim during the policy period without exhausting their NCB to nil.

As far as buying a policy is concerned, most insurers offer the online facility and bike insurance premium calculator which helps people and translates into quite a saving on both money and time aspects.

To buy/renew the insurance policy online, customers need to fill the registration number of the two-wheeler and provide a valid mobile number on the website of the company. One also needs to navigate through other options like whether the current insurance policy belongs to insurer, time period for insurance policy etc. Once these details are entered, an insurance quote with the breakup of the price components will be generated and buyer can then proceed to buy the policy.

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