Having a bike insurance policy helps;
It protects you against financial damages caused to the bike due to natural, man-made calamities or theft. An ideal bike insurance plan offers you the right coverage, reducing your out of pocket expense and also providing you with great customer support. Despite having comprehensive cover for your bike, if you are spending money out of your pocket and having trouble contacting your insurer for quick support, then it's time you switch your insurance company. However, before doing so, it is best to check on a few things before you switch the bike insurer.
Things to consider when switching bike insurer
If you are currently in distress about the service provided by your insurer then it is the right time to switch your policy. Being aware of the below things in advance will help you choose the right insurer and make the most of your bike policy.
Reputation of the insurance company
Before switching the insurer, compare insurers online and be ready with a list of potential insurers you plan to insure your bike with. Doing this will help you select the insurance company having a good reputation.
Check on the ratings and reviews of the insurance company online, read what their existing customers have to say about their service. Reading reviews will help you get an idea about how the insurance company fairs.
There are insurance companies that only offer comprehensive and third party insurance cover and not added services like bike insurance add ons, express claims service, etc. Few bike insurance companies also offer 24*7 assistance services wherein they provide you with quick assistance in case your bike has a breakdown, you need spot fuel delivery, etc. Switching bike insurer will be helpful if your existing insurance company does not offer you similar service.
Quick claim resolution/service
The primary purpose of buying bike insurance is to get a quick financial resolution in case of any injury or damages caused to a third party person, property or your own bike. As a bike owner, when you get involved in an accident, you face a stressful time. It is important to get support from the insurer in such difficult times. Hence, being aware of the time taken by the insurance company to resolve claims would be helpful when switching the insurer.
When looking to switch insurers, compare the premium rates. Check on the coverage offered, insured declared value, and the services offered. Compare rates online and if you feel the other insurer is offering better coverage and service only then consider making the switch. If the service provided by the new insurer is better then it will be helpful even if the premium is on a higher side.
While the services promised by the insurance company do look great, if you are unable to access those easily then it can turn out to be a disappointment. You should be able to access the service through the insurance company’s mobile app or website. You should not feel the need to visit the insurance company’s branch to access the service.
Following the above tips will help you insure your bike with the best insurance company. However, when switching, don’t forget to compare bike insurance online and renew on time to avoid any legal or financial liablities in absence of the required coverage.