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5 SMART Tips to Reduce Your Bike Insurance Premium 

5 SMART Tips to Reduce Your Bike Insurance Premium 

Ask any bike owner and they will tell you of the many journeys their vehicle has taken them on. From the usual commutes to work to more exciting road trips, your bike is your friend on the road. Regardless of the role your bike plays in your life, it has to be insured with at least a third-party bike insurance policy. If you are buying a bike insurance policy for the first time or renewing it soon, you may be looking to get a lower premium on the policy. Here are 5 ways you can achieve this.

  1. Consider buying insurance online 

Insurance, like many other products and services in the market, can be bought online nowadays. The chances of you getting a discount on the two wheeler insurance policy is much higher online than offline. Plus, buying insurance online allows you access to websites where you can compare several policies at once so that you get the best deal suitable to you. It also introduces a new level of convenience to the insurance buying process.

  1. Equip your bike with safety devices 

When you apply for bike insurance, the insurer takes a look at the make and model of your bike; they also check if you have any safety devices installed. These devices can reduce the chances of your bike getting stolen and decrease the level of damage it can incur during unexpected accidents. Looking from that perspective, the insurer can possibly give you a lower premium as you have reduced the chances of raising a claim.  

  1. Choose only the coverage you require 

When buying two wheeler insurance, you may be tempted or influenced by the insurance agent to buy coverage that you may not really require. This may be in the form of high-end policies or riders/add-ons. To avoid this from happening, you can create a list of your coverage needs before you buy the policy. Take into consideration several factors such as your commute to work, your neighbourhood, the uses you have planned for the bike, and so on when creating this list.

  1. Buy bike insurance from a known insurer 

If you have health insurance or another type of motor insurance from a particular general insurance company, then buying bike insurance from them can prove beneficial to you. They may offer you discounts on the premium or other benefits that can help you save money in the long run. 

  1. Select a plan with a higher deductible 

When you raise a claim on your bike insurance policy and it gets approved, the insurer does not pay for the entire expense. A certain portion, often pre-decided, is to be paid by you. This is referred to as the deductible. If you choose a higher deductible, there is a high chance that it may lead to a lower premium by the insurer. 

Efficient use of these tips along with completing the processes on time can help you maintain the lower cost streak for not just the first year, but the years ahead as well. Renewing the insurance for bike coverage on time, taking advantage of the No Claim Bonus, and having a clean driving history can help you secure lower premiums on the two wheeler insurance policy each year. 


Ride safe, be safe. 

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