Having a valid bike insurance policy is not only compulsory by the law but it even plays a very important role in providing financial support in the unfortunate event of an accident. Buying a bike insurance policy is not a very difficult task and has become very convenient in recent times. However, because of this, many people tend to overlook some small details and end up having their claim rejected in a time of need.
Nonetheless, to help you out, here are 6 mistakes to avoid when buying a two-wheeler insurance policy online –
- Not comparing the different insurance plans – With the accessibility that the internet provides, you now do not have to settle for an insurance plan that costs you more and still does not cover everything that you would need it to. You can easily find out the different insurance plans by searching for ‘online two-wheeler insurance’ on google and select the policy that not only fits your budget but even fits your insurance requirements perfectly.
- Opting for the cheapest premium – It is natural to want to save money wherever possible. However, getting the insurance policy with the lowest premium essentially means lower coverage. This can work against you when you get into an accident and need to make an insurance claim and find out that the required service is not included in your insurance policy.
- Buying the insurance offline – When you buy bike insurance online, there are no hidden charges, however the same cannot be said when you buy it offline. The entire offline process of buying insurance involves a lot of effort that can be easily avoided by going online and getting the policy directly from the insurer’s website. You also do not need to worry about the safety and security of your hard-earned money when you buy your insurance policy online.
- Choosing lower deductibles – Having to pay lesser deductibles while getting your bike repaired after an accident is good but it also means a higher insurance premium. Choose insurance plans with a moderate amount of deductibles and enjoy a balanced and profitable insurance plan.
- Providing wrong rider details – Since the premium of your insurance policy is affected by your demographics and driving history. Many people do not provide the correct details to the insurance policy in an effort to save money on the premium. However, this works adversely when you need to make a claim and the insurance company rejects it due to the invalid information provided.
- Not understanding the different type of policies – There are mainly two types of insurance policies in the market today, namely, third-party insurance and comprehensive insurance. Many people do not understand the difference and often end up buying the policy that eventually turns out useless for them. Like buying comprehensive insurance for a 15-year-old two-wheeler and getting third-party insurance for a luxury bike, is exactly what you should not be doing.
We hope this article proves helpful the next time you set out to buy a two-wheeler insurance policy online. All the best!