Getting a bike insurance policy is like creating a safety shield against the probable mishaps that might occur any time at the road related to your vehicle. As a law-abiding citizen, it is mandatory for you to purchase a bike insurance policy. However, you might feel that there is a lot of investment being made for this safety shield. You can only feel this unless you have taken advantage of some hacks that will help in purchasing the policy at an economical price. So, what is the method that will drag down the price significantly, while you are buying a two-wheeler insurance scheme? Therefore, you need to do some fact-finding, that will help you to save some money on bike insurance. In this article, we will brief about how to get all the features, benefits, and services of the insurance policy with any compromise.
Importance of bike insurance:
Riding a bike without valid bike insurance is considered illegal by the law. Two-Wheeler insurance is beneficial when you take the bike to the garage and go for a cashless settlement. This is because the insurance schemes have tie-ups with several garages. The insurance gives coverage against third party damages and third party injuries. Many policies come with instant claim settlement within 24 hours. Apart from financial coverage, it gives legal protection from fines and penalties while driving on the roads. If you get yourself insured, it will provide up to INR 1 lakh on account of disability, and sum assured to your family on account of your demise. Besides, you can also take no claim benefits discounts for a claim-free year.
Bike insurance premium calculation:
People nowadays mostly prefer two-wheeler insurance online, as it is both affordable and entails minimum paperwork in the absence of a middleman. The online platforms offer additional help to the policy buyers to check, evaluate, and compare the insurance premium rates. This can be done either by logging the insurance websites individually or by comparing the rates on the insurance aggregator’s websites. When you urge to save some money, make sure to use the online bike insurance calculator that will help to analyze your requirements and suggest a policy as per the specific case. There are multiple online calculators available that will help in assessing the insurance premium amount.
The requirements of a bike insurance calculator:
First, the users need to visit any insurance provider website or aggregator website and select the bike insurance premium calculator. The calculation can be made on both a new premium and renewal of a premium. Next, they are required to fill some details that are given below:
- KYC – Name, contact number and email ID.
- Model, type, class and bike manufacturer.
- Fuel type.
- Extra cover.
- City and date of registration.
Information needed when using bike insurance calculator:
If you want to get insurance premium quotes, then you are required to provide the following details:
- The registered number of your motorbike.
- Status of your previous policy (Active/non-active).
In case you do not have the bike’s registration number, you will be required to provide other details:
- Manufacturer details.
- Model and variant details.
- Registration year.
- Regional Transport Office Location.
- Status of your previous policy (Active/non-active).
How will a bike insurance calculator be helpful
The bike insurance calculator has been designed in a way to make the process of calculation quick and hassle-free. By entering a few necessary data, the online calculator computes the premium amount in simple steps. The benefits provided by a two-wheeler insurance premium calculator are given below:
Faster and stress-free
Spending hours and hours in the complicated calculation for bike insurance premium is not a very good idea. The bike insurance calculator is very fast and easy to use without requiring to solve any tricking arithmetic problems. You just need to visit the website, provide some basic details, and all the calculations are completed in a few minutes.
Bias free tool
The bike insurance calculator tool is entirely free from the shackles of errors, which are otherwise possible when you visit the insurance company in person. This online tool will nullify all the mistakes made on the part of the agent. The calculations are done completely based on the information provided by you.
No extra commission
By using the tool, you can calculate the bike insurance premium amount quite quickly. No extra commission ought to be paid to the agent for any calculation.
Make an informed decision
By using the online bike insurance calculator, you can understand the factors which affect your premium amount and helps you to make an informed decision by selecting the right cover.
Convenient tool
A bike insurance calculator is a convenient tool that doesn’t require any additional paperwork. Besides, this tool is completely free of cost.
Helps to plan ahead
It can be useful to compare different insurance online and get premium quotes. You can select the insurance accordingly, and map out the expenses. Even you can calculate the monthly expenses which help you in planning ahead.
Bike insurance is mandated by law, and an online bike insurance calculator will make all the calculations for purchasing the right policy.