A good scooter insurance policy should be able to protect you from several unexpected expenses, such as accidents, third-party liabilities and theft. However, it should also be easy on your pocket, provide extensive coverage and not feel too hectic to raise claims during emergencies.
While there are multiple lucrative bike insurance policies available today, that doesn’t mean they are all right for you. If you are a first-time insurance buyer, here are some things you should consider before committing to any two-wheeler insurance plan.
Understand the Type of Insurance Policy You’re Buying
Before buying scooter insurance, understand the different policy types available. Third-party insurance is legally mandatory and covers damages caused to another person or property, but not to you. Comprehensive insurance plans offer wider coverage, including both own-damage and third-party cover. Some of the damage covered includes fire, accident, natural or man-made disasters.
Check the Coverage Offered
Since this is the primary job of an insurance policy, check what it covers. If it is a comprehensive plan, look for protection from disasters, accidents and fire, etc., in addition to third-party liabilities.
Compare Add-ons Carefully
Add-ons provide extra protection that is not covered in the standard plan. For example, zero depreciation cover compensates you for the depreciation costs, and a tyre protector cover allows you to replace your tyres at no extra charge.
Check Premium and IDV
The premium should fit your budget, but it should not be your only deciding factor. Also, compare the Insured Declared Value (IDV), which reflects your scooter’s market value. A lower IDV may reduce your scooter insurance premium, but can also lower your final claim amount. Understand the Claim Process
Before buying any bike insurance, check the claim settlement ratio of the insurer. Also, check the process to file claims, and if it feels too complicated. Ultimately, it is the claim process that decides your entire compensation, and extra complicated ones can often lead to rejection.
Look for Cashless Garages
A cashless garage allows you to get repairs or replacement services without paying up front. And as soon as your claim for the same is approved, your insurer directly settles your bill at the garage. Find out the list of network garages for your insurer and if they are nearby.
Check No Claim Bonus (NCB)
If you do not raise any claims during the policy period, you may receive an NCB discount at renewal. This can reduce the premium of your bike insurance over time. Do not forget to ask your insurer what resets the NCB and the percentage of discount offered.
Make Every Ride Better With IndusInd Bike Insurance
A scooter is often more than just a vehicle. It is your daily commute, quick errand partner, and sometimes the easiest way to get through traffic. That is why choosing the right scooter insurance deserves a little more thought than simply picking the cheapest option.
With IndusInd General Insurance, you can explore bike insurance plans that adapt to how you ride. Whether you want basic coverage or extra protection through add-ons, you can choose a policy that feels practical for your scooter, usage, and budget.
