3 Tips To Buy The Best Bike Insurance Policy

Name one Indian household today that does not have a two wheeler in their home. Whether it is your friends or relative, everybody invests in two wheeler without taking future consequences in mind. As the number of two wheelers on road rises every single day, the increase in road accidents has significantly increased, at the same time. While accidents are inevitable, the expenses incurred on these accidents can be controlled. To cover for these hefty payments of hospital bills, an investment in two wheeler insurance is mandatory. Before you buy two wheeler insurance , it is important to understand the different types of two wheeler insurance policies provided by insurance companies. The insurance companies give you a choice to go with your preference. Understand these two types offered by insurance companies at the time of purchase: What are the different types of two wheeler insurance? Ideally, every two wheeler insurance policy consists of two main types. These two types are Comprehensive and third party bike insurance , namely. While both these categories are different, a majority of investors often confuse them with one another. Therefore, when you make a purchase, see to it that you have your basics about both these policies clear.  

Difference	Comprehensive Two Wheeler Insurance	Third-Party Two Wheeler Insurance
Coverage	Covers your vehicles from theft, burglary, and kind of damage due to natural calamities like floods, etc.	Covers the losses or any kind of damages to the third party during an accident
Price	Since it provides extensive coverage, it is relatively expensive	Since it only covers the third party, it is cheaper as compared to comprehensive coverage

  What is a long term two wheeler insurance? Since every insurance policy has a time limit, a policyholder has to constantly renew the policy to keep it functioning. To avoid the constant trouble of renewal multiple times, Bajaj Allianz General Insurance provides its customers with long term two wheeler insurance . Third party bike insurance cover has been made mandatory for 5 years. Comprehensive plans range from one to three years. Once you know which type of policy matches your need and budget, it is important to learn the right tactic to land up with the best two wheeler insurance. An ideal two wheeler insurance policy allows the policyholders to opt for extensive coverage at an affordable rate. Therefore, go through the following tips to buy the best two wheeler insurance mentioned below:

1. Consider the premium

Typically, the premiums of insurance policies form the base of your investment in a policy. When it comes to two wheeler insurance policies, the premium is influenced by certain factors. These factors are vehicle age, cubic capacity (CC), insured’s declared value (IDV), and so on.

1. Opt for higher deductibles

During an accident, a policyholder pays the money from his pockets for the repairs. The money which goes from his pocket is term as a ‘deductible.’ Hence, make it a point to opt for higher deductibles as it’ll help you decrease the overall rate of the premiums. Now that you know how to avail the best two wheeler insurance, what are you waiting for? Whether you’re looking for a short term policy or a long term one, we, at Bajaj Allianz General Insurance keep your needs in mind and make provision for them accordingly. In the end, your safety is in your hands, therefore, make the most of it and opt for the right policy for your vehicle.