How You Can Optimize Your Bike Insurance Policy

Optimize Your Bike Insurance Policy

February 13th, 2020   |   Updated on June 28th, 2022

Everyone wishes to own a vehicle of their choice someday. It is a matter of pride to be able to purchase it. Many people prefer a two-wheeler due to its several benefits.

It provides freedom that four-wheelers do not offer. If you own a bike, you are familiar with its practical utility.

It fits in narrow lanes and lets you find your way through busy roads easily. Traffic is not as much of a nightmare when you are on a bike.




Considering the many benefits that a bike offers you, it is your responsibility to protect it as well as yourself against any dangerous circumstances that might arise on the road.

It is mandatory by the government of India to purchase a third-party insurance policy when buying a two-wheeler.

However, it is not the overall protection that you need from potential dangers. A bike insurance calculator can assist your decision to expand your coverage.

Furthermore, there are other measures you can take to optimize your bike insurance policy.Here are three ways to do so:

1. Coverage Expansion

When you are buying an insurance policy, it is advised to evaluate the coverage that you will need. It often happens that people end up being unsatisfied with their coverage amount.

You must understand your expectations from the insurance policy and plan accordingly.

Most people are hesitant to pay a higher premium for better coverage. It is essential to realize that an insurance policy has the sole purpose of providing a cushion to you in times of need.

If you have inadequate coverage, the plan loses its value when it is most needed.

A bike insurance calculator will help you avoid any such inconvenience in the future. You can determine the insurance coverage required to suit your financial situation.

2. Replace Add-Ons

A complete insurance plan is strengthened by customizing it to your needs. Add-ons are designed to fulfill all your needs that go beyond the base plan. It is in your best interest to gain overall protection by opting for various other benefits.

However, sometimes people feel that the add-on to their bike insurance plan is not beneficial. It would not make a difference if it weren’t a part of the policy.

It might even take up a substantial portion of your money to sustain the add-on. This can often happen when you have the incorrect add-on to your insurance plan.

Every bike owner has needs that are different from the other. It is dependent on several factors such as your age, location and the make and model of your bike.

There are multiple types of add-ons offered by insurance providers that are well suited to your needs. To appropriately determine the add-on you require, a bike insurance calculator can be of aid.

3. Switch Insurance Provider

When you decide to obtain a comprehensive bike insurance plan, you wish to get the best benefits possible with it. There are numerous insurance providers available to cater to your needs. However, the services provided by them vary on several parameters.

In case you feel dissatisfied with the services offered by your current provider, you must replace them with one that offers more. You can reevaluate the facilities of your insurance policy while switching from one provider to another.

For example, your current provider might not give you the benefit of zero depreciation cover, which helps in retaining the original value of your bike. When you find the right insurer, utilize a bike insurance calculator to arrive at the optimum level of protection.

It is essential to assess your bike insurance policy from time to time to keep it updated. Prominent insurance providers such as Tata AIG offer bike insurance policies with features that fulfill all your needs.