Avoid Making These 5 Mistakes While Choosing Online Bike Insurance

Mistakes. We all make them. They are the best way to learn in life. But isn’t it better to learn from others’ mistakes when you can? From our experience in selling thousands of policies, we’ve compiled a list of top 5 mistakes people make while buying a Bike Insurance policy.

1. Lack of research

Customers buying bike insurance for the first time fail to research and explore various options. If you are planning to buy a policy, ensure you do your research first. Make sure you compare the benefits and premiums of different bike insurance providers. This will help you to find similar benefits at a much more affordable premium rate. Besides, you can also find out the customer review about a policy and the company reputation. This will help you to buy the best policy across the market.

2. Looking for cheap policy

Price is definitely the point of concern for everyone. Always look for an affordable bike insurance, but do not make it the deciding factor. Policy with low premium may lure you, but at times these policies do not offer coverage against huge losses or damages to your own vehicle.

3. Selecting small deductibles

Individuals opt for smaller deductibles in their policy while buying online bike insurance. They believe that the small deductible is beneficial.

4. Beware of the policy exclusions

This is one of the most common mistakes we make while buying a bike insurance. So, make sure you read the policy wording in detail and do not ignore the exclusion list of the policy. It may be that the most important type of coverage or benefit you seek falls under the exclusion list of the policy. Before making any decision, do read the underwritten terms and conditions with eyes open wide.

5. Not claiming the no claim bonus

In case you do not make any claims during the policy year, you are eligible to receive a No-Claim Bonus at the time of buying a new policy or renewing the existing one. The No-claim bonus is a discount offered by the insurer to the policyholder on the premium payable for the next year. So, keep this in mind while renewing your two wheeler insurance policy.

Avoid these silly mistakes while purchasing a bike insurance policy. To find the best insurance policy for your bike, make sure you compare different policies online, based on the coverage, benefits, and premium amounts associated with each of them.

I am an expert writer in Insurance Industry and have knowledge about various insurances online like Car Insurance, Two-wheeler Insurance, Health Insurance.