Common Mistakes To Avoid While Purchasing Bike Insurance

Published on 09/20/2018 1:45 pm

Two-wheeler insurance refers to an insurance which covers against any damages that may occur to the bike, motorcycle, and/or its riders due to an unforeseen mishap like an accident, natural disaster or theft. Bike Insurance offers protection against liabilities which arise from injuries causes to one or more individuals involved in the accident. It covers the exceptional costs that may arise due to damages caused by the bike. It provides protection to all types of two-wheelers - personal, mixed or commercial.

If you plan to buy a bike insurance avoid these common mistakes to avail maximum benefit from the policy.

Have a nominee when you purchase the bike so they can avail benefits of the policy too.
Provide accurate personal details to the insurance provider as failure may do so may lead to either losing some of its benefits or the complete policy itself.
In case of a mishap take not more than 48 hours to inform the insurance company about it with complete details to claim benefits.
As a policyholder, commit to pay up the deductible while the policy provider pays the remaining amount.
Check the IDV or the Insured Declared Value which is the amount settled by the insurance provider to the bike proprietor and the policyholder in case of theft or some misfortunate event.
Opt for reliable policy providers such as leading NBFCs which offer full value with benefits of the policy and that too on time. In addition, to providing easy renewal without inspections, reliable customer support and no paperwork for renewal and much more.