Bike Insurance Renewal Checklist to Follow

If you have a bike, you ought to have valid bike insurance. There are two types of people – ones who have a bike insurance policy just because it’s mandatory and others who take their bike insurance policy as seriously as their bike. If you know the importance of bike insurance, you will not just neglect your insurance policy. If you are looking to renew your bike insurance policy, then here’s a checklist that will help you at the time of bike insurance renewal.  

1.Type of cover: At the time of the bike insurance renewal, you get a chance to choose the type of insurance cover you want. Again, you have two options – third-party bike insurance renewal and comprehensive bike insurance renewal. While third-party bike insurance is mandatory, comprehensive cover is recommended. The reason for this recommendation is the added benefits that you get with a comprehensive bike insurance renewal.  

2.Duration: You can choose to buy an annual bike insurance renewal policy or you can choose long-term bike insurance renewal. As the name suggests, long-term bike insurance valid for more than one year. It ranges from three to five years. This means, you don’t have to worry about bike insurance renewal for three to five years. Long-term bike insurance renewal may also be more cost-effective than annual bike insurance renewal.  

3.No claim bonus: At the time of bike insurance renewal, you can redeem your ‘No Claim Bonus’. No claim bonus is a reward that your insurance provider offers when you raise no claims throughout the year. If you decide to switch your insurance policy from one company to the other, then you can transfer the no claim bonus at the time of bike insurance renewal. NCB in bike insurance plays a vital role at the time of bike insurance renewal. So, don’t forget to check for your bonus amount.  

4.Compare features: Another important point in the checklist would be to compare the features of various bike insurance policies before buying one. Bike insurance policy is as important as maintaining your bike. Every year, you may come across new bike insurance policies with newer features. With these new features, you may not need additional add-ons. That’s why always read and understand the inclusions and exclusions.  

5.Add-ons: If you are looking for adding that extra layer of financial security, then you may want to pick some add-ons at the time of bike insurance renewal. These add-ons can provide additional financial protection at the time of accident or major repairs. Some of the popular add-ons include pillion cover, accessories cover, and more.  

 This was our 5-point checklist for bike insurance renewal. If you follow these five points, you might be able to get the best bike insurance policy within your budget. If you are looking for the best comprehensive bike insurance renewal options, then head to Bharti AXA now. They have some of the best bike insurance policies in the market and are known for their claim ratio.