Bharti AXA TWO WHEELER Insurance How to Save Money on Bike Insurance Premiums? 9 May 2018 How to Save Money on Bike Insurance Premiums? It is natural to feel protective about one’s bike. The reason being that when you invest the money, time and effort to purchase one, It is obvious that you need a two-wheeler insurance to protect it from damage due to disasters, manmade or natural or road accidents. Also, The Motor Vehicles Act, 1988 makes it mandatory for every bike owner to apply for a two-wheeler insurance policy. But the question is. How will you decide on which policy to buy in the first place? Here are a few tips that will help you figure which policy to buy. 1. Decide What Bike to Buy? Buying a bike is indeed a heavy investment. Therefore, be sure to buy a two-wheeler which caters to your needs and is worth of the money you have spent. Note that a purchasing an expensive bike would mean paying higher premium and a standard bike would mean that your insurance provider will offer you competitive rates. 2. Read and Evaluate the Policy Make it a practice to read and critically evaluate the policy document inclusive of the terms and conditions. This will help you choose a better two-wheeler insurance for your bike and save money in the process if that is your ultimate aim. You may come across an insurance company offering similar benefits at profitable rates. Keeping this in mind, do not opt to buy an imported bike as far as possible. 3. Annual Premium It is advisable to pay your yearly premium at one go immediately after purchasing the insurance policy as it might help you save a lot of money. This proves to be cheaper in terms of money spent as against monthly premium payments. 4. Avoid Smaller Claims A claim free year is beneficial as it lets you avail no claim bonus (NCB). You should bear the expense of repairing the minor damage to your two-wheeler in terms of dents and scratches instead of filing for a claim with the insurance provider. 5. Check the Add on CoversZero depreciation cover and Personal Accident Cover are usually the two add on covers offered under a two-wheeler insurance plan. Besides these, read the insurance policy document for other add-ons and benefits. These may be designed to help the insured pay a lesser premium rate. 6. Maintain a Clean Driving Record A clean driving record indicates that you are a safe driver and take the necessary precautions to avoid road accidents. This is also because the insurance company finds you a low risk individual and hence won’t charge you a higher premium. These tips will certainly guide you on saving money on your insurance premium and also select a two-wheeler insurance policy which best serves your purpose. Now you can even apply for a two-wheeler insurance online with Bharti AXA. Explore Our Products Car Two Wheeler Travel Health Bharti AXA Advantages We've raised the bar in being your Two wheeler's ideal insurance companion 4.2 MILLION POLICIES ISSUED 79 BRANCHES ACROSS INDIA 3800+ CASHLESS GARAGE 24/7 CLAIM ASISTANCE Get Quote Request Call Back Category * - Select -CarTwo WheelerHealthTravelPersonal Accident Buy Renew Claim submit Disclaimer : The information published on this website is for the public's reference only. Content of this information is to provide an overview of your Travel needs and should not be relied upon for personal, medical, legal or financial decisions and you should consult an appropriate professional for specific advice. Bharti AXA General Insurance Company Limited makes no representations about the suitability, reliability, timeliness, and accuracy of the information, travel, services, or any other items mentioned on this subject for any purpose whatsoever.