How to reduce third party bike insurance premium

If we take a look at the transport industry in India, two-wheelers seem to have the highest level of importance. Scooters and bikes are very convenient as they are easy to travel in, and can pass throw narrow and congested Indian roads as well. Hence, it is important that you keep your bike safe and add proper insurance coverage to it in order to protect your bike with the help of a comprehensive insurance policy. So, when you are purchasing insurance coverage for your bike, remember that you can get immense coverage at just a lower price. On that note, here’s a look at some of the methods you can reduce your insurance premiums.

Compare Insurance Policies

Always begin with policies that are easily available to you. The best thing you can do is compare the insurance policies that are available online. The internet these days easily helps you connect with insurance companies. Make sure you check the coverage as well as the benefits that are offered by insurers. Keep in mind, certain things will likely never get covered such as damage that occurs from shipping your bike. Ensure that you find suitable coverage. Also, keep in mind that comparing an insurance plan will also reveal the policy, which also offers much higher coverage to you at a premium that is quite low.

Never Raise Claims That Are Small

Whenever you are renewing your third-party bike insurance policy, the insurer will also offer you a bonus in case you haven’t raised your claims during the period of the policy. This may sometimes go up to 50%. When you raise insignificant or small claims, you end up avoiding discounts in NCB forms while renewing your policy. Ultimately, you end up paying a premium that is higher compared to situations where you take advantage of NCB discounts.

Add-On Covers

Having a proper add-on cover is also necessary. But you will have to pay an extra premium for this. When you choose any redundant or unwanted add-ons, you will end up increasing the insurance rate of your bike instead of reducing the insurance premiums.

It is imperative that your bike insurance renewal is done before the due date to avoid a higher premium.

Renew Your Insurance On Time

Always remember that you should renew your insurance policy within a stipulated period of time and make sure that you don’t allow this to lapse. Whenever the motor insurance lapses, the benefit will only be valid for only 90 days maximum from the date that is due. It is also important that your renewal is done much before the premium is avoided.


Whenever you are settling your claims, your insurance company shall bear the costs of the repair. Make sure that you pay a small percentage, which is also called the deductible. Whenever you pay a higher deductible, the cost of your premium shall also go down.

It is considered to be a violation if you are out with a two-wheeler on the road without having any insurance. However, make sure that you don’t spend too much on comprehensive insurance, but it will protect you in areas of loss or damage for the two-wheeler. In order to reduce any implication that occurs due to loss or damage on the vehicle, make sure you get coverage to avoid any extra expenses.

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