5 Common mistakes that you must avoid while buying two-wheeler insurance: Nowadays, buying a vehicle has become so much common and easier because of various factors. With the purchasing of vehicles, also arises the buying of insurance. Most buyers have this misconception in terms of insurance as they believe that buying insurance is all about selecting the policy with the least premium. Zero Depreciation Insurance: Is It a Good Deal?
5 Common Mistakes in Choosing Two Wheeler Insurance
Many two wheeler owners make this similar mistake and in order to buy the vehicle as soon as possible, they hurry up and make their purchase decision on the basis of one single factor and that is the premium cost. What they should really consider is that they should get maximum value for every Rupee that is spent on the yearly premium and that is the ideal goal of buying insurance. Know why car insurance is essential for learner driver
Lack of information regarding this matter leads to buying of cheap policies that further leads to dissatisfaction of the buyers which then creates the misunderstanding in the middle of the policy holders and the insurers.
But that’s not the only mistake that a buyer does while buying a two wheeler. Apart from buying cheap insurance, there are other misconceptions that need to be considered, understood and avoided while buying the insurance.
With this article, we are going to clear all your misunderstandings and will tell you that what are the things you are doing wrong while buying the two wheeler insurance. 7 Reasons Why Corporate Health Insurance isn’t enough to Protect your Family
- Not claiming no-claim bonus
It is a reward that a policyholder can claim for not making any claim in the previous year.
- Not doing enough research
Most of the buyers don’t do enough research on the different policies on the two wheelers and end up choosing the less beneficial one. So, buyers must read the costumer reviews on the policies they took to get an idea of the insurance policy that they are opting for.
- Not selecting appropriate deductible
An insurance deductible is the money that a policyholder has to pay in case of a claim. So, a deductible can be opted according to the buyer’s affordability.
- Not entering correct details
Most of the times buyers fill there wrong details and end up losing the insurance policy. Sometimes, the misinformation can also result into the attempt to insurance fraud and can cause a lot of trouble for the buyer. So, to avoid these circumstances, a buyer must fill the correct information.
- Not selecting the right IDV
IDV is the Insured Declared Value that is the maximum sum assured to be given to the buyer by the Insurer. So, selecting the right IDV is one of its own tasks.