How to choose the Best Two-Wheeler Insurance Policy?

Here are the tips that will help you to choose the best two-wheeler insurance policy.

1. Claim Settlement Ratio - The claim settlement ratio indicates the performance of the insurance company. Your opted insurance plan should provide you with pre-decided insurance coverage when your vehicle is lost or damaged. The insurance company should extend help as per the applicable terms and conditions in the policy. If you are dealing with an insurance company which has the highest claim settlement ratio, the probability of processing your claim will be on the higher side.
2. Coverage - You should opt for a comprehensive bike insurance plan so that various risk factors will be covered in a very efficient manner. If you choose a basic insurance plan, it will cover the third-party damages only. The loss or theft of vehicle i.e. own damage will not be covered. Hence, it is very important to go through the policy wordings before buying an insurance policy.
3. Policy Tenure - The tenure of the insurance policy will affect the premium. If the tenure is long, the insurance premium will be low and you will save money. If you buy a policy for three years, the insurance premium will be the same for all the three years. If you opt for a long-term policy, you will not have to renew the policy at the end of the policy year.
4. Premium - The insurance premium is based on the make and model of the vehicle, the age of the vehicle, the age of the owner, coverage of risk factors, geographic location etc. If the frequency of usage of the vehicle is high, you will have to pay a higher
5. Customer Support - The insurance company should offer the best customer support and insurance service. You should have access to reach the company by phone, email or other channels. The customer support executives should offer the assistance in finding the garage where the repair/replacement of spare parts will be done quickly and easily.
6. Network of Garages - You should buy a two-wheeler insurance plan from an insurance company which maintains a large network of garages. It will help you manage cashless service from a network garage. As soon as your vehicle is involved in the accident, you must inform the insurance company.
7. Add-on Coverage - In addition to the basic features offered by the bike insurance company, you can go for additional coverage as per your needs. Even though the premium increases with the additional cover, there will be great flexibility at the time of filing the claim.