Bike Insurance Tips: Today we are going to tell you some important things, which you should take special care of while taking insurance for your bike.
Tips For Buying Bike Insurance: The number of two wheelers in India is very high. Most of the people use two wheelers. If you are also one of these people who use two wheelers, then you must be aware that how important is the insurance for the vehicle.
Driving a bike without insurance is considered a violation of traffic rules and if you do so, the traffic police can also deduct your challan for it. In such a situation, today we are going to tell you some important things, which you should take special care of while taking insurance for your bike.
When IDV
companies issue an insurance policy, an IDV (Insured Declared Value) is given in it, which in the eyes of the company is the value of your bike. The higher the IDV, the premium of your bike will be increased accordingly by the policy giving company. If it is less then the premium goes down. Choose the right IDV when you take the policy.
Insurance Type
When you are taking an insurance policy for your bike, you have to decide whether you will take a comprehensive insurance policy or a third party insurance policy. These two have different purposes.
In a comprehensive insurance policy, the company also gives cover protection to your motorcycle, whereas in third party insurance, only third person damages are covered. Third-party cover is always cheaper than comprehensive cover.
Accidents and Claims Accidents and claims
of insurance taken in the past affect the premium for the new insurance of your bike. If your bike has had an accident before and you have already claimed it from the insurance company, then now when you go for re-insurance, then the insurance premium of the bike will be more expensive. This should also be taken care of.
