Two-wheeler insurance rates: 4 factors that can affect them

 

As a bike owner, one of the essential and helpful things that you can do is purchase bike insurance policy. There are many advantages that you get when you put resources in purchasing a bike insurance online. When you buy the policy online, you will get two alternatives to select from: third-party and comprehensive. Depending on your budget and requirements, you can buy either one of them. However, there are many factors that can affect two-wheeler insurance rates when you are looking to buy. Here are 4 such factors that can impact the price of your policy:

1.      The number of add-ons in your policy

When you purchase comprehensive bike insurance online, you have the option of including various add-ons in your policy. These add-ons include NCB cover, zero depreciation cover, and emergency roadside assistance among others. Including too many add-ons in the policy could impact the two-wheeler insurance rates. It is prudent to include only those add-ons in your policy which you deem necessary.

2.      The type of two-wheeler you own

One major deciding factor for two-wheeler insurance rates is the type of two-wheeler you own. If you happen to own a non-gear bike, i.e, a scooter, the cost of the insurance will be relatively low. This is due to low-cost maintenance of a scooter. However, the insurance cost for a geared bike is greater. The capacity of the engine also comes into play for either type of two-wheeler. Lower the cubic capacity of the engine, lesser will be the cost of the policy. Higher the capacity, greater the price. Keeps these factors when you are looking to purchase a new bike.

3.      Modifications done to your bike

It is natural for a bike owner to do modifications to their bike. Modifications can be done to the internal parts of the bike such the engine, exhaust or horn. This may enhance the performance of the bike on some level. Modifications can also be done to enhance the physical appearance of the bike. Keep in mind, however, that any modifications done to the bike can escalate two-wheeler insurance rates. Some insurers might not cover the externals parts used in the modification process, which could lead to a lower compensation value. 







Original Content :- Two-wheeler insurancerates: 4 factors that can affect them

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