An insurance plan that covers the damages that can occur to your two-wheeler motor is called a bike insurance or a two-wheeler insurance. The plans protect your vehicle from any kind of unforeseen incidents like theft, accident or any natural disaster. An ideal plan should defend the insured against liabilities arising from injuries.
Types of Two-Wheeler insurance
A bike insurance plan is for all types of two-wheelers like a motorcycle, a moped used for commercial purposes and personal vehicles. There are two types of insurance policies for two-wheelers.
- Liability-only policy: This kind of plan offers coverage against damage and injuries due to third-party action
- Comprehensive plan: This sort of plan provides coverage against all types of damage to the vehicle and its rider.
The Basic Benefits of an Online Bike Insurance plan
One among the many perks of purchasing insurance online is the speed and reduced paperwork. You can buy a policy very quickly without the need for middlemen. Other benefits of buying motor insurance policies online include:
- Added discounts
- Quick and hassle-free transfer of no claims bonus (NCB)
- Easy Registration
- Easy methods to choose optional coverage
- Benefit of Comprehensive and Liability Only Coverage
- Inclusion of property damage and physical injury coverage depending on the plan
- Comparing Two-Wheeler Insurance plan online
There are several insurance comparison sites online. You can compare and buy the best plan as per your need. While comparing policies, you can find a cost-effective plan that gives you the right kind of coverage. The few advantages of comparing policies are:
- You can compare the different riders of favorable methods to ensure your vehicle gets maximum protection
- You can choose the best add-on cover as it varies between different insurance providers
- You will be able to choose the company offering the lowest premium for the kind of benefits you would require.
A Bike Insurance Calculator
The premium is the amount you pay as a customer to an insurance company at regular intervals to avail the benefits of your bike insurance policy. A bike insurance calculator is a tool that can be accessed online, with the help of which you can arrive at an estimate of your online premium. This device is designed to make your insurance purchase more convenient, and it is intended by financial experts.
Tips to use Bike Insurance Calculator
Using a bike insurance calculator before you purchase a motor insurance plan has its benefits. Firstly, you can evaluate your needs and choose from the best options available. It is a straightforward tool to use. All you are required to do is provide some correct information on the vehicle you use.
There are several insurance calculators online, and all of them are for free. They do not charge an amount for usage. The kind of information you would be required to provide are:
- Age of the vehicle
- The area and zone it is registered and Location of the Regional Transport Office (RTO)
- The year of vehicle registration
- Insured Declared Value (IDV) of the vehicle
- Status of previous policy if any
- The total cubic capacity of the vehicle
- In some cases, the other details regarding the vehicle may be required. Such as:
- The details of the manufacturer
- The model of the bike and its variants
The calculator does not only calculate the premium of your bike, but it also generates the quotes from different insurers. Therefore, you will be able to compare from the long list of plans available and choose the best one.
Benefits of using a Motor Insurance Calculator
There are several advantages of using a bike insurance calculator before you chose to buy a Bharti Axa bike insurance policy or any other two-wheeler insurance policy. Some of them are listed below.
- A calculator also lets you compare quotes from different insurance companies, giving you get the best deals based on your requirements
- This tool will also allow you analyze how the variable in coverage can affect the premium of your two-wheeler.
- A calculator gives you a neutral view of all the insurance companies. You will not be influenced by an agent, and you can decide at your own time
- The tool is very simple to use and does not consume much time
- This calculator also saves you from the hassle of paying commission to the middle-men
- Usage of this calculator does not require any kind of paperwork
- The calculator is free of cost
- When you use an insurance calculator, you are well-prepared with the pre-requirements and documents needed to purchase a policy
Compare policies and calculate premiums before you purchase a motor insurance policy because this gives you the perfect value for money. You can make correct decisions when you know about the insurance market and its players.
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