What are Some Smart Buying’s Tips?
Choosing the right Two Wheeler Insurance is quite essential so, you can feel protected while riding. Following are some of the key buying tips you can follow to buy the right Two Wheeler Insurance Policy. Type of Coverage: When seeking to buy insurance for your bike or scooter, it becomes important to choose the right cover. You have the option to choose a comprehensive or third party cover. It is advisable to buy a comprehensive two wheeler insurance, as it provides the complete protection for both the third party and Own Damage. Choose the Right Sum Insured: Insured Declared Value (IDV) or Sum Insured is the amount that your insurer pays when the claim arises. It becomes thus quite important to pick the right Sum Insured so you are completely covered against any damage or loss, as applicable under the policy. Assess Voluntary Deductible: It is the amount that the policyholder needs to pay in the event of rising claim towards their vehicle. It is a specific percentage of the total claim amount that you need to pay, so choose the deductibles wisely. It also helps reduce the premium amount. So, assess both the sides of the deductibles and then opt wisely.
Choose Add Ons Carefully: Prior buying an bike insurance policy, you may consider add-ons that ensure enhanced protection for you and your vehicle. You should assess the benefits of add-on cover and then choose it accordingly. Pick the IRDAI Approved Insurer: It is imperative to choose the IRDAI approved insurer. You should assess the insurer’s customer service and claims paying capability. Choosing the right insurer will be the key point while picking the right two wheeler insurance. Read the Fine Print Carefully: Don’t take a swift decision. It’s advisable to go through the policy terms & conditions, its benefits, and exclusions. It helps you make the right decision in fulfilling your two wheeler insurance needs. Compare & Buy Online: Before buying, you should compare the insurance policies from different insurers and choose the right one. Buying the policy online also helps grab premium discounts that lower the insurance cost for your two wheeler. [Source: https://www.comparepolicy.com/motor-insurance/two-wheelerinsurance]