7 Tips To Reduce Two Wheeler Insurance Premium - Make Money Online

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7 Tips To Reduce Two Wheeler Insurance Premium

 With a humungous investment like a two-wheeler vehicle purchase, your expenses are bound to sky-rocket. These hefty expenses create a hole in our pockets if not managed properly. Therefore, the best way to keep your expenses in check is by availing two-wheeler insurance in order to provide financial support in times of mishap. When you opt for two-wheeler insurance, see to it that you know different ways to lower the two-wheeler insurance premium in order to save money

 Here are a few ways that ensure you pay a lower two-wheeler insurance premium in order to save up more:

7 tips to reduce the two-wheeler insurance premium:

  1. Select the right type of bike
Choosing the right type of bike is the most crucial stage. This is simply because your bike determines the premium value that you are about to pay.Bikes with a higher CC would have you paying a hefty premium. Therefore, buy a two-wheeler vehicle that fulfils all your basic needs at an affordable rate.

  1. Compare multiple policies
There is no denying that a comparison between different policy options helps you to finalize the best one for yourself. The best way to land up with the best two-wheeler insurance is by looking for coverage with maximum benefits at an affordable rate. Moreover, utilize a two wheeler insurance premium calculator as it allows you to compare multiple features, benefits, and premium rates of a policy.

  1. Make annual payments
In order to ensure low payment of premium, opt to make the payments of premiums on an annual basis. For instance, if you choose to pay your premium annually after purchasing the policy, then you will be charged less than monthly payments or instalments. Certain insurance companies charge you less if the annual payment is made altogether.

  1. Avoid making small claims
Typically, a general insurance company offers you with the benefits of No Claim Bonus (NCB), if you haven’t made any claim from the time of your purchase. However, this is only the case if there are no requests for claims from your side. Besides, avoid making small claims for dents or scratches. In order to utilize the NCB benefit, see to it that you avoid making claims for petty issues.

  1. Choose the necessary add-ons
Comprehensive two wheeler insurance policies provide you with the option to extend the scope of your cover with add-ons. Insurance providers offer covers such as 24x7 roadside assistance, zero depreciation cover and more to add to existing plans. While these covers come in handy, they also require you to pay a higher overall premium. Therefore, manage the covers that you would like to incorporate into your policy in order to spare yourself from paying higher premium rates.

  1. Secure your bike
The rate of your premiums depends upon the security of your bike. The more secure it is, the less is the fear of the theft or burglary. It is your responsibility to secure your two-wheeler with equipment that is approved as well as certified by the Automotive Research Association of India (ARAI). Securing and safeguarding your two-wheeler vehicle from unwanted theft might make you eligible for lower payments of premiums.

  1. Be a responsible driver
Rash driving skills have never benefitted anybody. If you’re part of the rash drivers club, then join a riding association. Joining an association for riding will not only make provision for rebates but also ensure your responsibility in driving. Being a responsible driver will further avoid any accidents which will eventually make the insurance companies gain faith in you.

Now that you know the tips to reduce the two-wheeler insurance premium, what are you waiting for? Invest in the right type of two wheeler insurance policy in order to make use of the benefits to the fullest in times of any unfortunate event like accidents, theft, and so forth. You can also make other twists and tweaks further in order to make reductions in the premium wisely.
7 Tips To Reduce Two Wheeler Insurance Premium 7 Tips To Reduce Two Wheeler Insurance Premium Reviewed by RAWAT on 10:39 PM Rating: 5