Bike Insurance

For an owner and enthusiast, a bike is one of the most valuable things in life. This stands true both financially and emotionally. Hence, to protect it as best you can, you should buy a  bike insurance  policy. A good policy will protect your bike from damages & total loss occurring due to accidents, theft, natural & man-made calamities, and even an invisible enemy known as depreciation. Not sure what depreciation is? Well, this article will tell you all need to know about it and how it affects your bike insurance policy. What is depreciation? As per its simplest description, depreciation is the decrease in the monetary value of a product. This decrease happens as a result of prolonged usage. Hence, in the case of your bike, factors like ageing, wear and tear, etc. decrease its value. In bike insurance, the rate of depreciation keeps on increasing over time. The following table should give you a better idea. Rate of depreciation for...

Two wheeler insurance renewals seem simple. You just hop over to your insurance provider’s branch, furnish your documents, make the payments and you’re done! Sure, this is one way to go about renewing your insurance policy, but it’s not the best way! Keeping this in mind, the following article will highlight some pointers to bear in mind when renewing your plan to optimize the process and ensure your get the best protection at the best price. 1. Go online. One easier way to optimize the entire renewal process is to go online. Simply visit your insurance company’s website, find the ‘renew online’ option and click on it. The entire process is designed to easy and you won’t need any guidance for the same. Just fill in the details and make the payment! The online renewal will help you save a lot of time and energy as compared to the offline process. You do not have to waste a day visiting the branch or endure standing or waiting in line to renew your plan. You can renew the po...

If you are buying an insurance policy for your two-wheeler, you’ve probably come across the term ‘IDV’ multiple times. This is an extremely important term in 2 wheeler insurance . However, not many buyers know what it means. That’s where we can help! The following article will tell you everything you need to know about IDV to ensure you make the right decision when it comes to two wheeler insurance policy. \ So what is IDV? IDV stands for ‘Insurer Declared Value’. It is the maximum amount of compensation your insurance company will provide in case of total loss/theft of your two-wheeler. In other words, it is the current market value of your motorcycle. Like most other things, the market value of your two-wheeler is subject to depreciation. Therefore, every year, the IDV of your bike decreases a little. Your bike’s IDV also play an important role in the deciding the premium amount of your bike insurance policy. The higher the IDV, the more premium you will have to pay! ...

Buying a bike insurance policy for your motorbike is extremely important. It ensures you are legally allowed to ride your bike on Indian roads. Also, it gives you financial protection from the repercussions of accidents, theft and natural/man-made calamities. However, after purchasing a policy, many individuals tend to put their insurance in the backseat. This often leads to lapsed policies, insufficient levels of protection in the future and financial losses in general. Keeping this in mind, the following article will highlight some steps one should take after purchasing motor insurance. These steps will ensure you always stay on top of your insurance needs and get the most out of your two wheeler insurance policy. 1. Learn about the claim process. Many individual simply buy a bike insurance policy and keep it at that. They do not read-up or question their insurance providers on the workings of plan. That’s why, when an accident happens or they need to make an urgent c...