Choose the Right Motorbike Insurance with these 5 Simple Steps!

Smartchoice Editorial
May 21, 2021

Travelling on the streets of Karachi, during rush hours, while you are on a clock. You have to be somewhere on a committed time. Reach someplace on a pre-determined schedule, well, being and living in this city we all have been through how unpredictable the roads of Karachi can be!

The road which at one point tie had not even one car driving by would have a traffic jam all of a sudden when you decide to drive by it to save some time. Right! Keeping all these scenarios in view, people of Karachi or any metropolitan they have a practice. To save time and to avoid spending a lot of time on roads, what is opted for is t park the car at home and any activity that indicates that it would require timeliness, passing through a jam or using crowded roads during rush hours. Etc. they use their “MOTORBIKES” a solution not only helps in saving time, hassle, stress but a lot of money on petrol as well: D

So, if this mode of transportation is so effective and helps to save a lot of time and money it is pertinent to be careful about its protection. Since the motorbike is used at very crowded places and rush hours as per preference, there are more chances that the vehicle can get into an accident, can be damaged and lead to financial damage. This can affect your monthly finances gravely.

Procuring motorbike insurance is a smart way forward for your motorbike as the insurance provides you with the financial assistance that you need when your bike has been impaired/lost. As aforementioned a motorbike is the most common mode of transport for daily use. While bigger automobiles like cars get stuck in traffic for long hours, you can easily move through the jamming and reach your destination on time with your motorbike.
Nevertheless, driving through the congestions is dangerous and you might bump into something/someone and hurt yourself, as well as damage your motorbike. Also, it is problematic and at the same time challenging to find a spot for parking on crowded roads, which increases the chances of your motorbike getting stolen. Having motorbike insurance is as a consequence critical, which can help you save your out-of-pocket expenses in case of such ill-fated incidents.

Considering the hectic and crazy schedule as well as extended working hours in this day and age, it is easier and more convenient to buy a motorbike policy online. Besides now only applying the conventional way the digital way has become more easily accessible and offer many other benefits of applying for motorbike insurance online.
Below mentioned are few important things that you should know and will help you to choose the best motorbike insurance online:

1. The insurance terms

Before jumping into the ocean it’s imperative to know some important details, you should know the various jargons used in the insurance sector. For when you buy motorbike insurance online, it will help you to have a basic knowledge of the following words and make your decision easier:

IDV – IDV stands for Insured’s Declared Value of the vehicle being insured. IDV for a motorbike is calculated on the market price of the motorbike and is based on the make, model, and sub-model and registration date of the motorbike.

Deductible – It is the amount that the policyholder needs to pay at the time of every claim depending on the terms and conditions. Usually, there is a compulsory deductible. For all the motorbikes, the deductible depends on the insurance provider of the vehicle. There are multiple other things mentioned in the policy to save on your deductible. You should be extra vigilant when buying/renewing the policy for your motorbike.Certain insurance providers depending on the model and make don’t charge any deductible for the first few months of the vehicle insurance or the first year of the policy procured.

Third-Party motorbike Insurance – It is a compulsory motorbike insurance cover for your bike, which the government mandates to avoid any unpleasant situation that may arise at the time of incident/accident. It provides coverage for the loss/damage and other legal responsibility that may be caused to a third party vehicle or property resulting from your two-wheeler.

2. The Policy Coverage

The best motorbike insurance policy should provide the following covers:
Complete coverage for your vehicle in case of Loss/Damage due to natural causes and/or other unfortunate events like theft, burglary etc.
Personal Accident Cover to the policyholder
Third-Party Legal Liability mandated by the government

Complete insurance coverage for motorbikes provides all coverages while the third party liability only policy is limited to coverage for third-party expenses. While browsing online you should also have a proper and detailed look at the inclusions and exclusions of the insurance policy so that there are no surprises when you file a claim for your two-wheeler.

3. The Add-on covers

There are multiple Insurance companies provide that can provide additional covers, which can enhance the basic coverage of your motorbike. Following are some of the add-ons that are available in the insurance market of Pakistan, although one thing to be noted that is since Pakistan does not have a very high insurance penetration in the society, hence there are not many add-ons available for the masses. Although with time as things change the insurance providers along with other entities in the insurance business are trying to make insurance easy, more comprehensive and for everyone.
• Zero or Nil depreciation cover (for a period pre-determined in the policy document)
• 24 x 7 Spot assistance via customer care in case of claim registration
• Personal accident cover for passenger seating riders on the motorbike

4. The Claim process

You can file a motorbike claim either offline or online. Any way you feel convenient to file the claim are simple and straightforward. The important point to contemplate here is that you should be ready with all the compulsory and required documents for claim processing so that there is no hindrance and delay in the claim settlement process for the policyholder.

5. Reputation of the company

One of the most important benefits is that while applying for online motorbike insurance, you get a prospect to go through the customer testimonials assembled and compiled on the insurance company’s official website. These customer feedbacks echo the sincere and honest opinions about the services being by the insurance provider. You should be vigilant and careful enough to have a look at this important piece of information, which can every so often be the deciding factor to buy the insurance policy online or even from the insurance provider you previously considered buying insurance from.

With this article, we hope these pointers will be helpful to you when you buy the best motorbike insurance policy online. We recommend you choose the insurance plan sensibly and cautiously, keeping in mind the above tips as well as your motorbike insurance requirements. Let’s suppose If you do not wish to continue with your motorbike policy later, due to any reason you can always buy a different policy during your motorbike insurance renewal.

Visit our website to know more about the features, benefits, coverages and premium rates of Insurance Policy and comparison amongst motorbike insurance providers. Also, make certain that you use the motorbike insurance premium comparison tool to keep a tab on your premium.

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