A good bike insurance policy helps protect your bike from theft, natural disasters, on-road collisions, third-party liabilities and more.

However, if you are having trouble contacting your insurer and getting claims approved despite following the proper procedure; and have been paying out of pocket for your repair costs, it may be time to switch to another online two-wheeler policy.

You can do this by cancelling your current policy and getting a refund or switching to another provider on renewal.

To avoid a repeat of your current scenario, we have listed a few key factors you should look into when switching to a different insurance provider. So, to ensure you have a smooth policy tenure this time around, read on!

What to Consider When Switching the Insurance Policy for Your Bike

There are many factors to consider when switching insurers, and you must have at least a third party bike insurance policy to ensure legal compliance. So if you are unhappy with your current insurance provider, here are a few factors to consider when assessing future insurers.

 Insurer’s Reputation

When looking into online two-wheeler policies, the insurance provider’s reputation among its clients is crucial to your decision-making process.

Today most insurance providers have social media accounts and online reviews of their services that you can access to get an overview of their general brand reputation. So make sure to go through as many reviews as possible to better understand how the company is fairing.

Moreover, the insurer must be approved by the IRDAI (Insurance Regulatory and Development Authority of India).

To check the legitimacy of the insurance provider, you can check IRDAI’s list of general insurers on their official website to mitigate the chances of you being involved in a fraudulent purchase.

Services Offered

Most insurers today offer insurance policies for bikes with value-added services. These are sometimes called add-on covers and can include services like:

• Outstation roadside assistance (towing services)
• Battery jumpstart.
• Fuel delivery services.
• Personal injury coverage.
• Assistance for flat tyres and many more.

Most bike insurance providers also have 24/7 customer support services and cashless facilities at network garages. If your current two-wheeler insurance provider does not offer any additional services with your policy, it may be time to switch to another insurer.

Quick Claims Process

Your insurer must offer quick financial resolution in case of injuries or damage caused to the third party individual during an accident. So when you buy a bike policy online, you must look into the insurer’s claims process.

An easy claims process will save you time and ensures quick resolution of legal liabilities during accidents that result in injuries/damages to another individual or vehicle.

Most online insurers today have digitised their claims processes to ensure paperless transactions, so this feature is worth looking into to ensure a stress-free policy tenure.

Premium Rates

Affordability is another factor to consider when buying an online two-wheeler policy. Most insurers provide free premium calculators on their website to compare their insurance plans and ensure you make an informed decision before purchasing one of their plans.

For example, if you are buying comprehensive bike insurance from Tata AIG, you can compare the premium amount you will have to pay under this plan with the premiums of other bike insurance plans listed on their website.

You will also be able to check how much your online two-wheeler policy premiums will cost with or without the inclusion of add-on covers to your policy.

 Accessibility

Lastly, accessibility can be a major issue. You can find an insurer that offers great services and an affordable bike insurance policy, but if they are hard to reach or provide services outside of your geographical location, it can be disappointing.

To determine how accessible an insurer is, you will need to check two things on their official website:

• The geographical limitations of the services.
• Their list of network garages.

Most insurers offer services within India or a state, so checking their geographical limitations will inform you on whether they offer services to your state or region.

If they do, then checking their list of network garages can further tell you if they offer services near your current location. Always check the insurer’s list of network garages and their corresponding addresses to see if any are within your city or near your residential address.

Conclusion

When you buy a bike policy online, it is essential to look at your policy’s features and who you are buying it from. In short, your insurer must be able to facilitate easy transactions and offer a stress-free policy tenure.

The tips above will help you find an insurer that caters to your requirements. However, when switching, don’t forget to renew your bike insurance policy on time to avoid legal or financial liabilities in the absence of the required coverage.