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Want to save on your bike insurance premiums without compromising coverage?
Compare the discounts insurers provide to find a suitable policy. Different insurers may offer benefits for online policy purchases, claim history and anti-theft devices. While you compare 1st party bike insurance, it is essential to look beyond the discount percentage.
Review the coverage options, final premium, deductibles and exclusions to assess the overall value. This kind of approach can help you choose the best insurance. Read on to know more.
Key Areas Where Discounts Differ in First Party Bike Insurance
Online Purchase Discounts
Several insurers provide purchase discounts while you buy or renew bike insurance online. However, these purchase discounts vary by insurer, policy type and time of purchase. Before choosing a plan, calculate and compare the final premiums.
Anti-theft Device Discounts
Insurers might provide discounts on their own damage premium if your two-wheeler vehicle consists of an eligible anti-theft device. Before claiming these benefits, check the insurer’s requirements. You can thus save on premiums while improving the security of your bike.
Long-term Policy Discounts
The majority of insurers offer benefits on premium for eligible long term two-wheeler policy. However, availability depends on the policy type and its terms and conditions. Compare the policy coverage period and total premiums before assessing if a long-term policy meets your needs.
What Should You Compare Besides the Discount Percentage?
Here are the things you should compare besides the discount percentage of each insurer.
Insured Declared Value (IDV)
The Insured Declared Value (IDV) is the current market value of your bike. It affects the maximum payable amount in case of theft or total loss, subject to the terms and conditions of the policy. Compare the IDV offered by the insurers along with the premium. A lower premium with a lower IDV might better align with your requirements.
Availability of Cashless Garages
Find out if the insurer has cashless garages located near your place of residence. Also, check if your local service centre is part of its network. This can make the repair process easier after an accident, and you can avoid paying the full repair bill upfront.
Add-on Premiums
Add-ons offer additional protection but might raise your premium. Before selecting the right add-ons, compare their costs and benefits. TATA AIG offers 12 optional add-ons, enabling policyholders to review coverage based on their requirements and budget.
Coverage and Exclusions
Before policy purchase, review the exclusions, coverage and deductibles. Reviewing these details helps you understand how much you need to pay for. TATA AIG offers discounts up to 95% for the two-wheeler scooter segment and up to 90% for the two-wheeler bike segment at your preferred location. Calculate the final premium and eligible discount before deciding.
Discounts Comparison Across First Party Bike Insurance Providers
| List of Insurers | Maximum Premium Discount | NCB (Claim Free Years) | Other Discounts |
| TATA AIG | Up to 95% for scooters and 90% for bikes | Up to 50% | Installing ARAI-certified anti-theft devices, choosing a higher voluntary deductible and getting a membership at associations like Automobile Association of India can earn additional discounts. |
| Digit | Up to 80% | Up to 50% | Not stated |
| HDFC ERGO | Not stated | Up to 50% | Approved anti-theft device, voluntary deductible discounts |
| ICICI Lombard | Not stated | Up to 50% | Approved anti-theft device, voluntary deductible discounts |
Note: Discounts are subject to the terms and conditions of the insurer. Before final purchase, compare the premium amounts.
Explore First-Party Bike Insurance Options with TATA AIG
When choosing first-party bike insurance,compare coverage, discounts, and claim-related benefits. TATA AIG offers 12 add-ons to customise your coverage and has a network of 5,300+ garages for cashless repairs.
You can compare, buy, and manage your policy online through the TATA AIG website or app. Visit https://www.tataaig.com/motor-insurance/two-wheeler-insurance to use the premium calculator, explore available discounts and choose coverage that suits your needs and budget.
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