Two Wheeler Bike Insurance 260 views August 14, 2019

Commons Mistakes to Avoid While Buying Bike (Two Wheeler) Insurance in India

Mistakes to Avoid While Buying 2 Wheeler Bike Insurance in India

Buying a bike insurance policy in India is a very simple thing to do. However, you need to be careful when buying the policy and get the right cover at the right price. To ensure you get the perfect motor vehicle insurance plan for your two wheeler insurance, you need to stay away from some common bike insurance mistakes. Take a look at this article to know all about these errors and how to avoid making them.

Common Mistakes to Avoid When Buy Two Wheeler Insurance in India 2019

Here are the common mistakes to stay away from:-

Not transferring the existing cover

If you are buying a used two-wheeler, evaluate the existing bike insurance cover it has. If it is a practical and usable plan, go right ahead and transfer it to your name. it’s a mistake to let go of a good, working vehicle insurance policy. 

Not choosing the correct type of cover

If you are looking to buy a brand new cover, first understand that motor insurance is divided into two categories. You have the comprehensive plans and the third party plans. Understand what each type of two wheeler insurance policy offers and then choose the right type of cover. The type you choose will determine the features, coverage, and price of the insurance policy, so make your choice wisely. 

Not comparing

The biggest mistake that bike insurance policyholders make is they buy the bike insurance coverage before they compare insurance quotes. It is extremely crucial for you to compare the available options and then find a plan that’s well suited to your requirement. When you compare, you get to see all the quotes of all the plans. This helps you to find the best option at the best possible price.

Not calculating the NCB properly

The no claim bonus is a very crucial vehicle insurance element. You can get handy discounts on the bike insurance quotes with your accumulated NCB. Make sure the NCB is calculated and deducted properly before you buy a two-wheeler insurance plan in India.

Not checking the IDV

The insured declared value or the IDV is another important determinant in fixing the insurance premium of the bike. So make sure the IDV gets calculated properly.

Not choosing the correct policy period

Did you know that bike insurance is available for not just one year, but for two and three years also? Yes, that is right. You can buy long term vehicle insurance cover and stay protected for a longer time. Many people commit the mistake of not exploring the options as they are unaware of them. You should, therefore, explore all the options in front of you and then choose a correct policy period that suits your requirements. 

Not verifying the personal details

This is a silly, yet very costly mistake that can lead to unnecessary issues later on. When buying or renewing motor insurance online, you should double check all the personal details. See whether the spelling of your name, your age, your address, etc are mentioned correctly. If you notice any errors, make the change right away. If you have incorrect data on your policy documents, you may not even get the insurance claim later on.

Not providing a nominee’s name

Provide a nominee’s name by all means. It is an error to leave this out as if anything were to happen to you, a nominee should rightfully get the benefits. 

Not buying the right riders

Bike insurance riders are available aplenty. You should definitely get a few riders with your basic auto insurance coverage. However, you should not make the mistake of choosing the incorrect pool of riders. Evaluate the different riders and match them against your requirements. You will then find the most suitable option and your bike insurance cover will indeed become tailor-made for you. 

Being Dishonest

Please be honest about every possible aspect when you buy a bike insurance plan. Even the smallest degree of dishonesty will lead to severe complications later on. You can have your claim rejected and you can even land up in legal trouble. All this is completely avoidable and something you should never make the mistake of making.

These are the most common two-wheeler insurance mistakes. Now that you know more about them, try to rectify them when you buy a vehicle insurance plan in India.

Conclusion About Mistakes to Avoid While Buying Two Wheeler Insurance Policy in India

To sum it up, you need to be extra careful when buying motor insurance online. The process may seem simple and you may not want to invest a lot of time and effort into it. But being in a hurry can lead to you committing the above-mentioned errors. So take your time and choose a good vehicle insurance cover for your two-wheelers.