In case one owns a two-wheeler, one must go for an ideal bike insurance policy. It not only offers risk coverage against injury, but also covers repairs and maintenance. However, one cannot avail the complete benefits of bike insurance if one is not sure if he/she can make the premium payments in full, and on time. The premium amount that one pays is decided on the market value of the vehicle. If one has a good driving record and has not made any claims in the previous year, then the insurer will be rewarded a 20% to 50% no claim bonus. There are various concerns that one has while opting for bike insurance such as: fitting in one’s budget, being a good deal for the amount invested every year. In order to determine the annual premium for the bike, go through below mentioned pointers.
How to calculate premiums for bike insurance online?
Before jumping onto the task of calculating the premium of bike insurance online, one needs to know that there are various factors that affect the premium for bike insurance, such as, vehicle condition, engine capacity, the age of the vehicle, vehicle model and year of manufacture, geographic location and deductibles. If an anti-theft device is installed for the detection of theft of the vehicle, then one is given a discount of 2.5% on the overall premium amount. Once you have got a good hold on this information, you can proceed to calculate your premium amount for bike insurance online.
Online bike insurance premium calculator
With the advent of online technology, one doesn’t need to knock on the door of middlemen or each and every insurance providers to know more about the premium amount or to get insured. One just needs to use a bike insurance calculator online. There are many companies that offer this option to customers to calculate their premium instantly and understand if the policy is apt for them. One can avail bike insurance at the earliest, once sure that one can pay the premium amount easily. On entering an e-mail id, contact number and bike registration number a quote is presented to you. You can go through the quote and decide whether you want to buy that bike insurance online or not.
Benefits of buying premium for bike insurance online
Buying bike insurance premium online protects you and your bike against almost all odds. Online bike insurance is quick and hassle-free in helping get quick quotes, making cashless claims and adding more flexibility to the insurance purchase process. It also provides you with the option of a convenient payment method. As bikes make life easier while driving on the road, buying bike insurance premium online adds more flexibility to the contract of the insurance. Here are few other benefits of buying premium for bike insurance online:
- Ease of purchase, reliability and security:
In the case of online premiums, one can obtain instant quotes, compare policies on various insurance broker websites such as Coverfox.com and make an informed decision on the purchase of premium. It also eases the payment mode, as one can easily pay by credit card, debit card or bank transfer for every premium.
- Premium discount:
Buying premium online is not only easy and eliminates middlemen and brokers, but it also slashes the rates and offers a great discount. One can easily observe the difference in premium amount and overall insurance when compared to an offline bike insurance policy. The difference in prices is amazing and will ensure that you never go for an offline insurance plan. Who wouldn’t like to save money and invest wherever required?
- Higher sum assured:
Another benefit of buying the premium for bike insurance online is that, the customers get to choose the best Insured Declared Value (IDV) from the options given by various companies, he can check who is offering him what and go with the one providing him the highest IDV at the best price. Who wouldn’t be tempted to buy bike insurance online at such a low rate?
Make a better decision regarding the purchase of your bike insurance online by going through the experiences of other customers, accessing detailed information about the policy and premium and comparing various policies online.