10 Things to Research before Renewing Your Bike Insurance


Whether you are buying a new plan or you are going in for a bike insurance renewal, you should do some research first. If you blindly continue with your existing cover, you may end up missing discounts, important modifications and other vital components to make your cover ideal. In this article, we tell you how research helps when renewing a bike insurance policy. Take a look and learn what you should research and why.

Things to research before going for a two wheeler insurance renewal online:

  1. Type of cover: Vehicle insurance is available in two different forms – third party and comprehensive. You may have a particular type of cover presently, but that may not be suitable for you. If you feel your present coverage isn’t sufficing, look to change your plan. Do your research and find out more about what each kind of bike insurance plan offers. Then make a well-informed decision. 
  1. The scope of cover: Next, you need to assess the scope of cover your current plan offers. If you feel the plan is too extensive and you don’t need so much insurance, change the cover while getting the policy renewed. Use a free, online bike insurance calculator to see what your new cover would cost and buy the plan accordingly. 
  1. Riders: Riders add a lot of value to your bike insurance policy. However, every rider that you buy pushes up the overall price of your policy. You, therefore, need to review your riders when you go for two wheeler insurance renewal online. If you feel a certain rider is not needed anymore, drop it. If you think you need some additional riders, add them. 
  1. Discounts and deals: At times, insurance providers offer deals and discounts. Do your research and locate such deals. Then make full use of these offers and see if you can get a good deal on your bike insurance renewal. You may have to switch your insurance provider, but don’t hesitate to do so if you find an excellent deal somewhere else. 
  1. NCB: Many people ignore the no claim bonus component when renewing their two-wheeler insurance policies. Don’t make this mistake. Take a good, hard look at your accumulated NCB (if applicable) and ensure that it is taken into consideration while calculating the premium. 
  1. Deductible: You should also reassess your deductible figures. If you agree to a higher deductible, your premium will go down. Use a bike insurance calculator and do the math. Speak to the customer care executives if need be. 
  1. Change in information: Are you sure all your information is updated in the policy documents? Do some basic research and look up the papers to see if any endorsements need to be done. Complete the formality and then enjoy a proper bike insurance coverage in the year to come. 
  1. List of exclusions: Next, research the list of exclusions before you go for two wheeler insurance renewal online. If your current plan has way too many exclusions, research some other plans and find one that has fewer exclusions. This will help you to maximize your cover at the same price. 
  1. Insurer’s reputation: How happy were you with your insurance provider’s services and cooperation? If you weren’t too satisfied, you can switch your insurer when renewing the cover. Do your research and look for reviews and ratings of various insurance companies. Find an insurer who enjoys a healthy reputation. Make a switch and have a smoother policy year with your new insurer. 
  1. Consider long-term policies: Going for long-term policies is helpful with regards to saving money and ensuring that you have a cover for a long term so that you do not have to renew it on a yearly basis. 

The bottom line

As you can see, a little bit of research goes a long way in bringing you better coverage at a more affordable price. So, when you go for bike insurance renewal, definitely take some time out and do your research. It hardly takes a few minutes but the results go a long way in giving you your ideal bike insurance coverage.