Buying two-wheeler insurance is not as easy as it sounds. Before purchasing a suitable two-wheeler insurance policy, the users have many decisions to make.
Insurance-seekers must take a close look at their respective insurance providers to compare the policies, features, benefits and coverage offered, the premium rates, etc. Not only this, but they also have to determine their own requirements to make an informed decision. And, given a large number of general insurance providers operating in India, the process to choose the best two-wheeler insurance ultimately becomes a very challenging task.
Therefore, to cut your task short and make it easy, we will discuss the top-selling two-wheeler insurance plans in India.
Tips on Choosing the Best Two-Wheeler Insurance
The above-mentioned two-wheeler insurance plans are some of the best-selling insurance plans that you can find in India. The list has been put together based on good reviews and incurred claim ratio. Apart from these factors, however, one must keep a few more tips in mind before selecting an insurance policy for their two-wheeler.
Following are the seven things you should do to find the right two-wheeler insurance coverage:
- Before buying an insurance policy, always understand the two major categories: third-party and comprehensive plan. You can choose between these as per your requirements.
- Compare and choose the two-wheeler insurance plans on parameters such as incurred claim ratio, coverage amount, policy tenure, premium, network garages, and add-on coverage.
- Look for discounts or ways to reduce your premium rates, like voluntary deductions or a no-claim bonus.
- In case you want a comprehensive two-wheeler insurance plan, select add-ons as per your needs based on factors such as the age of your vehicle, model, etc.
- And, last but not least, never undervalue the insured declared value (IDV) of your vehicle to lower the premium amount. If you do, there might be an issue while making a claim for the loss incurred.
Final Take
Choosing the right two-wheeler insurance policy matters a lot because there are inherent risks associated with driving. And, in case of any mishap, not always the one riding the bike will be at fault, there might be many other factors. Therefore, it is better to buy a two-wheeler insurance policy from reputed insurance companies for guaranteed safety and greater peace of mind.
Recommended Link: Top 5 Bike Insurance Plans and its Features
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