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10 Money Saving Tips for Buying Bike Insurance This Diwali

Use these tips to save money on your bike insurance policy

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Car, insurance, Bike Insurance
It is you that has to explore different types of auto insurance companies. Pixabay

Diwali is around the corner and many of you must be planning to make big purchases this time of the year. Whether it is a home, electronic appliances or a vehicle, making new purchases is considered auspicious during the festive months. Two-wheelers are a very popular choice among many of us. Some of us replace our old bikes for new while some buy the very first bike.

With a bike, you also buy an insurance policy because two-wheeler insurance plans are mandatory in India. However, buying two-wheeler insurance requires additional investments on policy premiums. When it is the festive season, saving money is important because there are various expenses to take care of.

If the added expense of a two-wheeler cover is worrying you, relax. Your bike insurance policy need not be expensive. Here are some tips:

10 Tips To Save Money On Bike Insurance Premium

  1. Be careful when choosing the type of policy you need: Bike insurance policies can be of two types – third-party bike insurance or comprehensive policy.  Third-party bike insurance plans have limited coverage and are cheap. If you use your bike sparingly or if your bike is very old, you can buy only a third-party policy and pay minimal premiums.
Set up an emergency fund
If the added expense of a two-wheeler cover is worrying you, relax. Your bike insurance policy need not be expensive. pixabay
  1. Select the IDV carefully: If you are buying a comprehensive policy, the Insured Declared Value (IDV) would impact the premium calculation. You are given a minimum and maximum IDV value and you can select any value in that range. Don’t go for a very high IDV as it would shoot up the premium unnecessarily. Always choose the IDV keeping in mind the value of your bike and the age-related depreciation.
  2. Install safety devices in your bike: Installing safety devices in your bike reduces the chances of claims. For instance, anti-theft devices help in reducing the possibility of theft and ABS systems help in reducing the possibility of accidents. When you install safety devices, the company’s claim probability also reduces and the company allows you a premium discount.
  3. Become a member of an automobile association this Diwali: There are recognized automobile associations whose memberships earn you a premium discount. So, become a member of such associations and you can reduce the cost by up to 10%.
  4. Use your policy’s NCB: If you are renewing an existing bike insurance policy and have not made a claim in the previous year or years, you stand entitled to a No Claim Bonus (NCB). This NCB earns you a premium discount which ranges from 20% to 50% depending on the number of successive years in which no claim was made. So, use this discount to save on the premium outgo.
  5. Don’t make smaller claims: Whenever a claim is made you lose the accumulated NCB of your policy. So, if the claim is of a smaller amount don’t raise it with the insurance company. Pay off smaller claims from your pockets and save the NCB.
Use these tips to save money on your bike insurance policy.
Use these tips to save money on your bike insurance policy. Pixabay.
  1. Choose a voluntary deductible: Your bike insurance policy already has a compulsory deductible which is the amount that you have to pay in case of every claim. The insurance company then pays the rest. You can also choose the voluntary deductible and choose to pay an additional amount of claim yourself voluntarily. When you do so, the company’s claim liability reduces and so the company allows you a premium discount.
  2. Choose add-ons which are required: Comprehensive bike insurance plans allow add-ons which help in increasing the coverage of the plan. However, add-ons incur additional premiums too. So, you should always be careful when choosing add-ons. You should choose only those add-ons which you require to reduce the unnecessary increase in premium.
  3. Always renew bike insurance on time: If you renew bike insurance on time, you not only get continued coverage, but the renewal premiums are also low. If the policy has expired and then you go for renewal, the company charges a higher premium. So, always renew your policy in time to save on the premium cost.
  4. Buy two-wheeler insurance online this Diwali: The online marketplace allows you to compare and buy two-wheeler insurance online. When you compare you can find a plan which combines the best coverage features at the lowest premium rates. So, always compare and buy two-wheeler insurance online.

Use these tips to save money on your bike insurance policy. The money you save can be used for other expenses which, as we all know, are plenty during the festive season.

Next Story

OPPO Reno 2: A Perfect Flagship to Gift This Diwali

Conclusion: The Reno 2 is among the best options in the Rs 30,000 and above price segment, dominated by OnePlus 7. In terms of novelty, Reno 2 takes over OnePlus 7. A perfect buy to gift your near and dear ones this Diwali

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Charging, Technology, Users
Thanks to companies like Qualcomm, Huawei, OnePlus and Oppo, plugging in smartphones and having them charged (even if not completely) is a matter of minutes now. Pixabay

By Md Waquar Haider

After the initial success to Reno 10x Zoom, Chinese smartphone manufacturer OPPO has launched Reno 2 series — Reno 2 (20x digital zoom), Reno 2Z and Reno 2F — before Diwali in India that pack quad rear cameras, pop-up selfie camera and attractive designs.

The flagship Reno 2 (8GB RAM and 256GB internal storage) is priced at Rs 36,990. The device would go on sale, starting September 20.

After spending more than a week with Reno 2, here is what we think of the device.

The USP of the device is 48MP quad camera setup. The camera system includes a 48MP Sony IMX586 sensor that supports optical image stabilisation (OIS) and electronic image stabilisation (EIS), 13MP telephoto lens, an 8MP wide-angle camera and 2MP macro lens.

The Reno 2 comes with 5x hybrid zoom support and 20x digital zoom.

In terms of low-light photography, there is an ultra-dark mode. The rear camera performed really well in various lighting conditions. Simply, the camera being the major highlight did impress with the neat images.

If you love photography but do not have the budget to invest on a premium smartphone, Reno 2 is the best option right now with 20X zoom.

The device also houses a shark-fin selfie camera with 16MP resolution that pops out at an angle. The front camera too worked fine during the testing. It captured good-quality images with ample detailing and near accurate colours.

In terms of design, the smartphone manages to stand out in the crowd. The phone retains the same design elements as the original Reno.

The top of the device houses selfie camera while the bottom sports 3.5mm headphone jack, Type-C port and a speaker grille.

Oppo, smartphones, china, launch
Oppo launched its Oppo Reno2 series of smartphones in August. Wikimedia Commons

The quad camera setup at the back is vertically placed under the glass with the OPPO logo and “Designed for Reno” — protected by “O-Dot” ceramic bead that aims to prevent the camera from getting scratches.

The volume rockers are on the left and power button on the right, both quite easy to operate.

The Reno 2 comes with a 6.55-inch Dynamic AMOLED display. The phone offers FHD+ (2400×1080) resolution and a screen-to-body ratio of 93.1. The front of the device is completely all display with no notch and very slim bezels. It also houses an in-display Fingerprint Unlock 3.0 scanner.

The display was bright indoors as well as outdoors. If you love watching videos, you would definitely like the display. Netflix streaming was an amazing experience.

The Reno 2 is powered by 2.2GHz Snapdragon 730G processor that is based on a 8nm process and comes equipped with an Adreno 618 GPU. The phone runs Android 9 Pie with ColorOS 6.1 on top.

Also Read: Zomato Gold is Still Proving to be a Bone of Contention, Says NRAI Executive

For those who love online gaming, the phone is near perfect.

Apart from the above combination of hardware and software, the huge screen also helped make games more immersive.

Oppo Reno 2 packs 4,000mAh battery with USB Type-C port. The battery lasted almost an entire day on a single charge. The in-house VOOC fast-charging technology quickly charged the device in less than an hour.

Conclusion: The Reno 2 is among the best options in the Rs 30,000 and above price segment, dominated by OnePlus 7. In terms of novelty, Reno 2 takes over OnePlus 7. A perfect buy to gift your near and dear ones this Diwali. (IANS)