How to Save Money On Bike Insurance Plans?

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How to save money on bike insurance plans?
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Purchasing your dream bike is definitely a moment
of pride. But with ownership comes
responsibility, the responsibility to drive
safely, and to get your bike insured. Most riders
do not think this is important. But you should
admit bike accidents and other road mishaps are
uncertain. The consequences of accidents can be
devastating. It is crucial to safeguard your
rides with the best bike insurance plan. A bike
insurance plan can safeguard you against the
perils of such eventualities. It also reduces the
emotional and financial stress you may experience
otherwise. However, the IRDAI has made it
obligatory to buy a third-party liability
insurance plan for every bike that runs on the
roads of India.
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Purchasing adequate bike insurance is no longer a
tedious task. You do not have to spend hours and
hours to get in contact with the insurance
brokers and get the documents ready. The only
requirement to purchase an insurance plan is your
priority of ensuring safety and being a
responsible bike owner. You can now buy bike
insurance online in less than 15 minutes. The
process does not require a lot of documents too.
It is simple and convenient.
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  The other concern related to bike insurance is
the premium amount. Do not worry, you can
purchase an affordable insurance plan without the
interference of any bike insurance agent.
Depending upon your budget and requirements you
can select a plan. Also, when you buy bike
insurance online you can save a lot of money.
  Here are a few more tips on how you can save
your money while purchasing a bike insurance
plan.   Say No to smaller claims Do not
register a claim for small wear and tear of your
vehicle. The cost of repair for dents, broken
clutches, etc are affordable hence do not waste a
claim on such damages. This will help you in
saving the No claim bonus which can be used to
avail discount later. This can save you more
money.
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Compare This is a prime step you should follow
before you buy bike insurance online. Comparing
bike insurance plans from different insurance
providers online can help you in buying a plan
that offers adequate benefits at an affordable
premium rate.
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Increasing voluntary excess One way to minimize
the premium amount of your insurance plan is to
increase your share of the claim. Voluntary
excess means the amount you should pay to the
insurance provider at the time or during claim
settlement. When you increase the amount you will
be paying, the premium amount gets reduced
subsequently.   Understanding the additional
covers Some of the additional covers are
already included in the policy by the insurer.
These additional covers increase the rate of
premium. When you buy bike insurance online or
offline you should read the wordings of the
policy document carefully. Some of the additional
covers may be unnecessary. You can exclude these
unnecessary covers from the policy and save
money.
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  Renew before the deadline Remember the most
important responsibility after purchasing the
insurance plan is to keep it updated. An inactive
insurance plan can land you in trouble. If an
authority catches you with an invalid insurance
plan, he may levy a huge penalty or even put you
behind the bars. Renewing the plan in time is
very crucial. There are other benefits if you
renew the policy before the deadline. One, you
can save all your NCBs, two, you will save
yourself from penalties, three, you do not have
to pay extra money while renewing the policy.
Hence, make it a point to renew your policies on
time.
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Whenever you wish to purchase an insurance plan
for your vehicle, consider the above points
before making any payment. Note that, it is
obligatory to stay insured not over-insured. Do
not waste your money on purchasing a plan with a
high premium rate and minimal benefits. Always
try to look for a plan that offers benefits
according to your requirements and at an
affordable premium amount. Save money on premiums
and avail discounts as much as possible. This way
you can enjoy the benefits of insurance plans and
also evade unnecessary hassle. Ride safely and
securely!  
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