In India, two-wheelers are the most popular way of commuting. This is because of multiple reasons varying from the ease in navigating traffic, affordability to accessibility. What comes with all of these pros is also some deadly cons – prone to accidents, theft – which is why it’s important to insure your two-wheelers. Apart from it being mandatory to have bike insurance as per Indian law, it also protects you from financial burdens. We always suggest going for a comprehensive bike cover since it protects you from both third-party liabilities and personal accidents. The best way to select a plan is by researching and comparing policies – online insurance has made this easy! Here are our 5 tips that can help you avail the best two-wheeler insurance plan –

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  Understanding the Policy
  

Reading different policies available in the market and comparing them to your needs is step one to making an informed choice. Before buying the policy you should check the coverage, premium amount, benefits provided such as assistance, towing, etc. It is critical that you find a policy that covers most-all of your needs. Along with that, also gauge the reputation of the insurance provider – it’s best to go with a company that is efficient and provides you with all the necessary benefits. 

• Premium Rate
  

Premium is the payment you make for the policy you choose for your two-wheeler. This is an important factor to look out for when making a decision – since this amount will be paid regularly. The premium amount reduces over time due to the depreciation of the two-wheeler. We suggest choosing a plan with an economical premium rate. 

• Insured Declared Value (IDV)

IDV is the market value of your bike – the insurance company will be giving you coverage depending on this and this is the amount that you receive in case of accident, theft, etc. Depreciation of your bike also affects your IDV – thus this is important to factor in.

• Discounts on the Policy
  

Insurance policies have discount offers available on them – this is a great way of buying a plan at an affordable price. Look out for no claim bonus, deductibles, and other discounts that can help you save money and get the best policy at a nominal rate. 

• Add-Ons

Add-ons can help you expand your coverage and overall benefits. The insurance plan in itself is basic and does the bare minimum which is why add-ons are great and can help you meet your needs and wants from the policy.

Another bonus tip from us would be to read the reviews of different policies online written by customers – this can give you a fair idea of how the insurance providers work, their accessibility, and overall how your experience would be with them. Having an idea about your requirements and different policies in the market can aid you in making the right choice for yourself. Check out the two-wheeler insurance policies by Chola MS here that cater to different needs – find the policy for you!