Buying a bike insurance plan is a legal requirement in India. However, unless you do some homework and select the appropriate cover, your plan won’t be a success. But what makes a bike insurance plan ideal for you and how can you find the most suitable plan? Take a look at our handy guide to get your answer.

The secret of bike insurance plans

Listed below are the top eight secret tips that make a bike insurance plan work in your favour:

  • Use your NCB: The no claim bonus, or the NCB, is a discount the insurance provider offers when a policyholder doesn’t make a claim in a particular policy period. It accumulates every year if you don’t make a claim. After a few years, you can even get a discount of a whopping 50%. This will dramatically pull down your bike insurance costs and you will enjoy a great cover at an unbelievable price.
  • Don’t make small claims: If there is a small scratch on your bike, get it repaired on your own. Do not make small claims. This will help you preserve your NCB and you will end up in an overall profitable situation.
  • Add-ons are useful: An add-on is an optional cover which you can add to your base bike insurance plan. You can customise and increase the cover with the help of these add-ons. However, don’t go all out and buy every possible add-on. Do your research and understand which add-on is best suited for you. Once that is done, buy the add-on and make your two wheeler insurance cover a huge success.
  • Don’t be a rash driver: If you are responsible on the roads and maintain a healthy riding record, you will get a good deal on your bike insurance plan. Also, without any claims made, your NCB would also remain intact and you would be able to earn discounts in the following year’s premium.
  • Don’t let the policy lapse: Never let your two wheeler insurance policy lapse. Always renew it well before time. A lapsed policy would lead to a break in the cover. It would also bring about unnecessary fees and fines that you can completely avoid if you prevent the plan from expiring.
  • Opt for a higher deductible: When your deductible is higher, your premium will be lower. If you are confident of your riding skills and believe you won’t need to make too many claims, go in for a higher deductible and stay covered in an economic manner.
  • Know the claim process: The ultimate aim of any insurance plan is to provide the claim. You pay the premiums and maintain the policy just so that you can get the claim amount when needed. So make the job easier for yourself by finding out about the claim settlement process beforehand. If you know the process well, you can get the claim settled in no time when you need to do so later on.
  • Compare the plans: Always remember to compare the various bike insurance plans before you make a final purchase. It is very easy to compare the plans. You can do it online in a matter of a few minutes. Not only will you find the best prices, you will also find the best features and will be able to make a smart purchase after all. Comparing the various bike insurance plans helps you to save money and also to make your plan a success.

Cracking the bike insurance plan’s code

You simply need to crack your bike insurance plan’s code to get the most valuable insurance cover. It may sound complicated, but the process actually is a very simple one. Keep the tips and tricks mentioned above in mind. It will then become easier for you to find the most suitable bike insurance cover. Do not simply buy third party insurance because of the legal requirement – buy it to wholesomely protect your vehicle. A good insurance plan will cover your bike, the third party and also offer compensations if you get injured while riding the bike. So go ahead and locate the most ideal plan and get it without any further delay.