Insurance is like a spare tyre. You may not require it, but not having one is not an option.

Tips to Reduce Bike Insurance Premiums

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The options for bike insurance are almost too large to fathom. If you are looking to find a new insurance or to renew a policy, there are so many options available out there; but it’s not always about trying to get the cheapest premium. You must try to get all the features that you require even if it means paying a little extra. However, if the price is your main concern, simply read on to find some tips to reduce bike insurance premium:

  • Pick an older, cheaper or smaller bike to get an insurance premium that is more in your budget. Such bikes’ repair and cost of spare parts replacement will be cheaper.
  • Avoid picking modified/ unusual motorbikes because these will be considered to be more expensive when it comes to repairs and to replace spare parts. Also these bikes will be considered more attractive to thieves. Imported bikes will also be considered more expensive.
  • The less your bike is on the road, the less risk to the insurance company and the cheaper the insurance premium will be.
  • You will find that if you pay the insurance in full as soon as you take out the policy it will be cheaper than if you decide to pay in monthly installments.
  • If you have not made claims for a few years, it is likely that the insurer will give you a lower premium.
  • When the time comes for you to renew your insurance, make sure that you don’t just settle for your current insurer. Look for other insurers who will give you all the features you want for a better price. You could use a site which compares prices and other details.
  • Keep your bike secure. It is always best to park your bike in a garage rather than leave it on the street. Use other forms of security for your bike such as chains, locks etc.
  • The more experience you have as a rider, the less risky you will seem in the eyes of the insurer. This means that you will get the best possible premium. The insurance company may look at your record (tickets and accidents).
  • Try to get all your insurance (home, health, car) from one insurer so that you get a discount on them all.
  • If you do not have a pillion, you could get a cheaper premium.
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Following these tips can save you a lot of money. It is important that you consider your requirements and then do your research to find an insurance to fulfill them. Your bike insurance should be large enough to cover the cost of bike replacement and hospitalization. However if you have a good health insurance, you can avoid the latter. Experts suggest that as the bike ages you could avoid getting the collision and comprehensive coverage in order to save money. You could also save money by not getting specialized coverage such as accessory insurance.

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Tips to Reduce Bike Insurance Premiums Reviews

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  • United India Two Wheeler Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I have my two wheeler insured with United India insurance from more than 4-5 years, there was no claim experience so far with this insurance policy. Rs 1000 has to be paid as a premium amount for this insurance. I am happy with the policy benefits of this insurance.
    Was this review helpful? 1
    , bangalore
    Reviewed on Feb 15, 2019
  • Bajaj Allianz Two Wheeler Insurance
    "Impressive policy"
    0.5 4.0/5 "Great!"
    Bajaj Allianz is one of the leading insurance company provider in Two wheeler insurance. 1 month ago, i have purchased this policy. They have provided me a 5 years continuous insurance policy and initially they have given 1 year policy which is cover for 100%. Its a zero depreciation policy. My dealer has recommended me about this policy from showroom.
    Was this review helpful? 0
    , pune
    Reviewed on Feb 15, 2019
  • Bajaj Allianz Two Wheeler Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I had taken a two wheeler insurance from Bajaj Allianz. The policy period is one year. I went to the dealer at the part of the sale, the person gave me insurance with them. It has zero dep which includes any scratches. I have no claim experience. I have received the insurance document.
    Was this review helpful? 0
    , chennai
    Reviewed on Feb 15, 2019
  • Shriram Two Wheeler Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    My two wheeler is insured with Shriram general insurance from last 2 years, a premium of Rs 1200 has to be paid for this insurance every year. I do not have claim experience so far with this insurance policy. The policy benefits and plan coverage is satisfactory.
    Was this review helpful? 0
    , chennai
    Reviewed on Feb 15, 2019
  • Oriental Insurance Two Wheeler Insurance
    "Cheaper policy in the market"
    0.5 4.0/5 "Great!"
    Recently I purchased Two wheeler policy from Oriental Insurance, its around Rs.1300 for one year, I have taken the basic plan its kind of third party plan , the policy cost is cheap, they gave me the best IDV value, I have unicorn cb 160. Depreciation value is around Rs.48,000 because its 3.5 old vehicle, I have taken the policy through online channel.
    Was this review helpful? 0
    , bangalore
    Reviewed on Feb 15, 2019
  • ICICI Lombard Two Wheeler Insurance
    "Costly Policy"
    0.5 3.0/5 "Satisfactory"
    Previously I had ICICI Lombard bike insurance, but the customer support is not upto the mark. Because one time I had claim experience, own damage happened, I took the bike to the showroom, I gave the papers to them, within 15 days I got my bike, I paid the amount from my end and got the reimbursement 65% of amount.
    Was this review helpful? 0
    , bangalore
    Reviewed on Feb 15, 2019
  • ICICI Lombard Two Wheeler Insurance
    "Very Good Policy"
    0.5 5.0/5 "Blown Away!"
    Bought my two wheeler insurance policy from ICICI Lombard. When i purchase the vehicle the dealer has provided the policy from ICICI Lombard and i have been renewing the policy for past 2 years. I have paid the premium amount of Rs. 1500 every year. I had no claim experience with them. Documentation process in fine. I used to renew the policy in dealer point.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Feb 14, 2019
  • United India Two Wheeler Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    The policy comes with the bike when i purchase from the dealer. I took the policy from United India. I need to check about the coverage value. I have paid the premium amount of Rs. 1000. I never called the customer care since i never had a chance to talk with them.
    Was this review helpful? 1
    , bangalore
    Reviewed on Feb 14, 2019
  • ICICI Lombard Two Wheeler Insurance
    "Average service"
    0.5 3.0/5 "Satisfactory"
    I have taken the two wheeler insurance policy is ICICI LOMBARD GENERAL INSURANCE. I have applied through on line only, and the premium amount which i pay on yearly basis, and i use to pay premium through on line.and they have not charged me hidden charges.
    Was this review helpful? 2
    , hyderabad
    Reviewed on Feb 13, 2019
  • ICICI Lombard Two Wheeler Insurance
    "Good Service"
    0.5 3.5/5 "Pretty good"
    I have taken the two wheeler insurance directly from the Royal En field Showroom and my Two Wheeler Model is Royal En field Classic 350 . The premium is good and the agent clearly explained the products the service was good according to me. I have not yet faced any difficulties till now not yet gone for claim and I am using the policy for the last 2yrs and the Overall service is good .
    Was this review helpful? 2
    , bangalore
    Reviewed on Feb 13, 2019
  • Reliance General Two Wheeler Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I have taken the two wheeler insurance policy with the RELIANCE GENERAL INSURANCE where i am using it since from last few years. The premium is nominal also the IDV value is satisfactory with this policy. The coverage is for 3rd party insurance.
    Was this review helpful? 1
    , namakkal
    Reviewed on Feb 12, 2019
  • Bajaj Allianz Two Wheeler Insurance
    "Better"
    0.5 5.0/5 "Blown Away!"
    I took my two wheeler insurance from Bajaj Allianz. They have given me very faster service when comparatively with the others. The customer service is also good. I have paid approx 2K for one year policy. I have not done any claim so far. It is a third party insurance.
    Was this review helpful? 1
    , hyderabad
    Reviewed on Feb 12, 2019
  • HDFC Ergo Two Wheeler Insurance
    "Its Good"
    0.5 4.0/5 "Great!"
    The insurance guys are spontaneous sharing the policy features, there is no claim experience. The premium is economical with HDFC Ergo and I have taken first party insurance bike its for bike protection with nice tie up with many service centers.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Feb 12, 2019
  • Reliance General Two Wheeler Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I had a two wheeler insurance with Reliance general for 3 years, i paid a premium of Rs 1500 for this insurance policy every year. There was no claim experience with this insurance policy. The policy benefits and plan coverage were satisfactory.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Feb 12, 2019
  • Iffco Tokio Two Wheeler Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I took my bike insurance in Iffco Tokio by last January. I have paid 1795 rupees to purchase the policy. The policy period is 2 years. I have received the insurance paper through mail but not received the hard copy. I have no claim experience. The benefits are good. It is a first party insurance.
    Was this review helpful? 0
    , bangalore
    Reviewed on Feb 12, 2019
  • United India Two Wheeler Insurance
    "Good Insurance Company"
    0.5 5.0/5 "Blown Away!"
    I taken two wheeler policy from United India, they give good response. My company got tie with them, the premium was around Rs.1680 for one year, My bike model is apache 160, insured value is good based on the purchasing year around seven years.
    Was this review helpful? 0
    , chennai
    Reviewed on Feb 12, 2019
  • Bharti Axa Two Wheeler Insurance
    "GOOD"
    0.5 3.0/5 "Satisfactory"
    I have taken the two wheeler insurance policy with the BHARTI AXA GENERAL INSURANCE and i am using it since from last 1 year. I have not experienced with any claim with this insurance. The premium is very good and the IDV is also satisfactory.
    Was this review helpful? 0
    , bhubaneshwar
    Reviewed on Feb 12, 2019
  • ICICI Lombard Two Wheeler Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I have taken the two wheeler insurance policy is ICICI LOMBARD GENERAL INSURANCE where i am using it from last few years where i have not experienced with any claim with this policy. The premium and the IDV value is satisfactory with this policy.
    Was this review helpful? 1
    , ahmedabad
    Reviewed on Feb 09, 2019
  • Bajaj Allianz Two Wheeler Insurance
    "Its satisfactory"
    0.5 5.0/5 "Blown Away!"
    I make the premium amount of Rs. 2800 its a comprehensive plan, I have first party plan its only for me covered. I have pulsar 200x, when I go for the renewal they gave me the policy coverage on time. The customer support is nice and they responded well.
    Was this review helpful? 2
    , bangalore
    Reviewed on Feb 09, 2019
  • ICICI Lombard Two Wheeler Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I have purchased the two wheeler insurance policy with the ICICI LOMBARD GENERAL INSURANCE where i had no claim experience with this policy. I am holding it from last five years where the premium and the IDV value is satisfactory. The policy coverage is for comprehensive.
    Was this review helpful? 2
    , belgaum
    Reviewed on Feb 09, 2019
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