Reasons to Compare Two Wheeler Insurance


Choices always confuse the consumer, especially when all of those offer lucrative benefits but would have still hidden cost or unspecific policy guidelines. When we have several options in front of us, as a general practice, we tend to select the best choice using all the resources and knowledge available to us. So when we have various types of two-wheeler insurance available in the market, why not compare two-wheeler insurance and choose the best one to protect ourselves and our two-wheelers.

One out of three households in India has a two-wheeler. For a population over 1.3 billion, you can imagine how busy the roads will be with the two-wheelers. As the chances of accidents, damages increases with the rise in the traffic; every two-wheeler wants to get their bikes insured. Before that the question comes to everyone’s mind is which insurer to trust and which insurance plan to buy amongst the several available options.

Before getting into the compare two wheeler insurance, one should be aware of the kind of insurance provided for the two-wheelers and about the specifications of their two-wheelers to understand which insurance type is best suited for the two-wheeler.

How easily can you compare two wheeler insurance

There are various affordable two-wheeler insurances available in the market, and one can easily compare two-wheeler insurance available in the market online considering the following factors.

  1. Insured declared value: The money an insurance company pays for your two-wheeler after adjusting the depreciation in event of a total loss of your two-wheeler. The IDV should reflect the current market price of your two-wheeler
  2. Coverage plan: Features included in the program. The Insurance plan with the highest range of coverage considered as the buyer’s winner.
  3. Premium rate: Insurance fee charged to the customer. The premium rate ideally should be in proportion to the insured declared value and the coverage. The charged premium rate for insurance should be validated using bike insurance premium calculator, which is available online and free of cost.
  4. Discount rate: Some insurer offers a discount on the premium rate. If more coverages come in the discounted premium, choose the discounted plan.
  5. Rider’s insurance: Some insurer provide rider’s insurance in the coverage plan, and it is suitable for those who do not have their personal insurance.
  6. Add-ons: carefully choose the add-ons you before opting for any insurance plans. Add-ons tend to influence the premiums you pay for your two-wheeler insurance.
  7. Easy Transfer: In case the two-wheeler owners’ change or replace their two-wheelers, the insurance gets transferred. For those, who keep interest in bikes and keep replacing them, this coverage plan should be checked thoroughly.
  8. Renewal Policy: It is essential to understand the insurance renewal policy for any two-wheeler insurance. The mode of renewal is also important. There is online renewal available for the two-wheeler insurance. The more convenient the mode of renewal, the better preferred the policy is.
  9. Claim Process: The process followed to avail insurance. Buyers should consider reviewing the claim process by each of the insurers and should go with the more straightforward method to arrive at a hassle-free insurance plan.

For those who consider compare two-wheeler insurance offline should consult well-informed two-wheeler insurance brokers. Brokers will make your life simpler by helping you with the best insurance plan. Again this depends on how well informed you are about your two-wheeler specifications and features.

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While considering the above factors, it is also important to note that best insurance plan does not come at a low price. If it does, then there might be exclusions in the insurance coverage. So along with the price, the above factors should be considered to make an informed decision about your insurance.

Benefits of comparing two wheeler insurance

By comparing the different insurance plans available in the market, you will be aware of the various exclusions and inclusions offered at different prices by insurance companies. When you compare two-wheeler insurance plans, itwill also help you to choose the best-required add-ons for your insurance plan. In the highly competitive market, your ability to negotiate on the discounts and benefits offered by the two-wheeler insurance company might save you some money.

As it is mandatory for every two-wheeler owner to get their two-wheeler insured with an insurance plan, the best plan must be chosen by comparing a variety of available options in the market. Unless you start strong with the best insurance plan, the journey will not be long.