Secrets That Your Two Wheeler Insurance Provider Won’t Tell You
This article mentions the top 5 secrets that your two wheeler insurance provider won’t tell you. It introduces how certain clauses and appendages affect the insurance premium but are not mentioned by your two wheeler insurance providers at the outset . It then explains the top 5 secrets in point format.
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Two wheeler insurance policies are available in a variety of formats and you can buy any policy as per your financial needs and requirements. However, you must remember that there are several clauses and appendages to these policies that affect the rate of your premium.
While paying a higher premium does ensure optimum benefits and services, you can also pay a lower amount without influencing the benefits promised to you. This is possible by a number of ways but most two-wheeler insurance providers will not mention this to you. In this article we are going to help you out and mention the top 5 secrets that your bike insurance company won’t tell.
Secrets That Your Two Wheeler Insurance Provider Won’t Tell
The following are a list of top 5 secrets that your two wheeler insurance provider won’t tell.
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Two Wheeler Model Affects Premium
The model of your two wheeler has a direct influence on your bike insurance policy. Your insurance provider will most likely not tell you that there is a motor rating system for every model and its configurations. The more updated the model of your bike is, greater will be the premium. Hence, feel free to ask your bike insurance agent about this before buying a new policy.
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Do Not File Claims Frequently
Filing claims frequently for repairing or maintaining your bike takes away the benefits of a No Claim Bonus (NCB) or the annual discount that you can receive on your premiums for not making any claims in a single policy year. Your insurance provider will not tell you this and the key is to analyse the amount of NCB discounts with repair charges. If the repair charges are higher than the NCB, you should definitely file a claim.
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Membership Discount For Certain Organisation Members
In India, a membership of a automobile organisation drastically reduces the amount of premium you pay. Organisations like the Automobile Association of India are beneficial in reducing two-wheeler insurance premiums and also offer certain discounts on their insurance policy. Your insurance provider will probably not mention this point to you.
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Do Not Install Expensive Gadgets
The moment you install expensive gadgets such as rear spoilers or alloy wheels, the amount of your insurance premium goes up. In such cases, the insurance provider makes an assessment of your driving style and the reason behind such modification to your bike and usually its maintenance and repair cost together would lead to a greater amount of insurance premium on your behalf.
Also Read:- Bike Insurance Policy - When & How Should You Change It?
Take Away
These are in a nutshell, the top 5 secrets affecting your insurance premium that your two wheeler insurance provider won’t tell you. Hopefully, this list will guide you to ask the right questions and make an informed decision when it comes to purchasing a two wheeler insurance policy. As important it is to bear in mind these tips, it is equally crucial to secure your bike with an insurance policy to safeguard yourself and your bike against the financial liabilities arising from its repair or an accident.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.
