Young, old or a teenager, who does not like to enjoy bike rides? Considered to be one of the most convenient modes of transport, bike is no doubt a life hack we always wanted. No matter what our age or to what class of the society one belongs to, two wheelers are something we all enjoy and have used at least once in our lives.
In order to protect or lives and also the lives of others on the road, it is mandatory to have your bike insured. Now that you have already spent so much on buying the desired vehicle, what can be done to avoid any further costs on insurance?
It is given that you cannot avoid the cost of insuring your vehicle, but here are certain things which will definitely help you in reducing that cost.
Just follow the 5 simple things mentioned below and you can bring down the bike insurance premium cost:
- Ask for Insurance Discounts Based on your AgeLike any other insurance, two wheeler insurance also carries the risk of high claims and insurance companies want to reduce that by any means. By quoting your age you might end up getting more discounts as individuals in the age of 30-60 are considered safe drivers.
As per the various surveys conducted by insurance companies every year, with increased age, people tend to get more aware and mature and become more responsible not only towards themselves but also towards the society. They are responsible in driving and tend to get into lesser accidents, thereby resulting in lesser claims. - Choose the Right Plan as per your Needs Many a times while choosing bike insurance plans individuals choose it based on the suggestions provided by their peers, relatives and neglect their own needs. In order to reduce the bike insurance premium cost, the thumb rule is to evaluate your needs and find out what is most important for you and then choose a plan that is appropriate. By doing so not only you will get the reduction in premium cost but will also save on any additional cost which your policy does not cover.
- Timely Renewal of your Bike Insurance Policy Nothing can beat the feeling of having your precious bike covered. In order to continue with that same feeling, one needs to ensure they are renewing the bike insurance well in time. Most of the bike insurance providers like Bajaj Allianz, etc., provide you an option of auto renewal.
You can set up a reminder few weeks before the due date and you will not lose out on the benefits. In case you miss out on following the same you will charged a penalty until grace period and post expiry of grace period your policy will be closed along with your benefits going for a loss. To avoid losing out on any of the bike insurance benefits, always pay your bike insurance premium on time. - Enrol for a Bikers Membership and Also Join a Bikers Group As you become a part of any of the reputed bikers associations, you not only enrol for the adventures that lie ahead of you but also for the ample of discounts and benefits associated with it.
In order to engage their customers and increase their sales, bike insurance companies provide tailor made and custom made insurance plans for the group members as all of them belong to the same group and would have similar needs. By doing so they are not only increasing the sale of their products but are also creating a market value through word of mouth. - Increase your Bike’s Security With increasing technology and developments, all the two wheelers today are fixed with the best of security features. The insurance premium cost is also dependent upon how secure your vehicle is.
There are certain enhanced security features which are approved by Automotive Research Association of India- ARAI, which, if installed, increase the security of your bike ten folds.
The more secure your bike is, the lesser will be your premium. Insurance companies provide increased discounts to vehicle owners if their vehicles are more secure than the others, as the risk is lesser and the claim amount will also be lesser. So to get better discounts and reduce your bike insurance premium cost, invest a little in the beginning and get added benefits later on.
These are only a few things which will help you in getting the best out of your bike insurance and reduce your premium cost. There is no better way to avoid unnecessary expenses other than being a safe and responsible driver as you not only want to reduce your premium cost but also want to have the best for yourself and your family.
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