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
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.
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.
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.
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%.
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.
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.
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.
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.
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.
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.
One common way of travelling is by using motorcycles or bikes. They have the bigger advantage of being cheaper than cars, they take less space when it comes to parking, and the bike insurance is significantly cheaper than the car insurance.
Speaking of bike insurance, as is common in India, a two-wheeler insurance is mandatory for motorcycle owners. The main objective of bike insurance is to help protect people from traffic accidents. The insurance policy also helps in protecting the bike against any natural disasters-based damages such as earthquakes and landslides, other than occurrences such as theft fire or riots. Generally, the bike insurance policy is categorized into two policies. The first, known as “act only” policy, covers any type of damage on the bike, physical injuries, or even death. The second one is called “comprehensive” policy, and it covers damages caused by external forces—such as natural disasters, fires or burglary—as well as third party damages.
When buying a new motor vehicle, an insurance policy is included in the price. The insurance is only valid for one year, and the owner must renew the policy every year. The owner can choose to renew the same policy or multi-year two wheeler insurance policy with the same company or with a different one.
Every year new bikes are being released, and enthusiasts may be interested in looking for new ones to replace their old ones. But some even choose to keep using their old bike most probably due to financial reasons, or maybe they are already comfortable with the ones that they already have. One thing that comes to mind when it comes to shopping for bikes is the mileage. Specifically, which of the bikes sold tend to have the best mileage, or can travel the furthest without breaking down. Here, we list down the top 10 bikes in India that have the best mileage.
Honda Dream Yuga (Mileage: 72 km/l)
Initially billed as the “cheapest bike Honda has ever produced”, the model is first introduced in 2012. This model has the lowest mileage in this list, but can go up to 97 km/h in speed. The engine is a 109cc single cylinder air-cooled block with a 4 speed gearbox. The 130mm drum brake is in the front and rear; the Dream Yuga has no option for disc brakes. Just like the other models in the ‘dream’ series, it has a basic styling and a very conventional look. The 2016 model introduces two new colours, which are Black and Athletic Blue Metallic; in total, the model has 6 colours.
Honda Dream Neo (Mileage: 74 km/l)
After Dream Yuga, Honda then launched Dream Neo in 2013. This model, which is sold at a lower price than Dream Yuga, was released then to compete against its competitor, Hero Splendor. The mileage is slightly higher than its predecessor—BikeWale even listed this model as its 7th most popular mileage bike, compared to Dream Yuga which is placed at number 10—and in terms of design, it is similar to Dream Yuga, except it has different graphics and the tail section is more basic. Just like Dream Yuga, Dream Neo also has drum brakes at the front and the rear with a four-speed gearbox.
Honda CD 110 Dream (Mileage: 74 km/l)
After those two previous models came CD 110 Dream. Honda India released this model, which is cheaper than the two other modes of the Dream series, in 2014. In terms of mileage, it is similar to Dream Neo, and its design closely resembles Dream Neo, except that it has restyled graphics. In 2018, the model received an upgrade in terms of graphics, and its name is changed to CD 110 Dream DX. The engine is larger compared to its predecessors, which is a 110 single cylinder engine, but also has a four-speed gearbox as well. The basic colour for this model is black with five different graphics.
Yamaha Saluto RX (Mileage: 82 km/l)
Yamaha Saluto RX is the successor to the Yamaha Crux, and is “designed especially for the Indian roads”, as highlighted in Yamaha Motor India’s website. This model has the advantage of being light, which makes it easier to park or can reach a higher mileage. Speaking of mileage, this model is far better than the Honda Dream series, and the bike can travel up to a speed of 90km/h. The model implements a brand new platform and engine with BlueCore technology. Besides an 110cc air-cooled engine, this model is fitted with a four-speed constant mesh transmission. The Saluto RX is available in 4 colour schemes, which are black, matte black, blue and red.
Hero Passion Pro i3s (Mileage: 84 km/l)
Passion Pro is the “3rd Most Selling Bike in September 2018” on ZigWheels.com. It shares the mechanical bits with the Splendour model, and is promoted to those who want basic motorcycles with a splash of style. With an air-cooled single-cylinder engine of 97cc, the Passion Pro can travel up to a speed of 87km/h. When fitted with an ‘i3S’ Start/Stop System, the bike becomes more fuel efficient. The basic model has drum brakes whereas the top-of-the-line variant can be fitted with a front disc brake. Passion Pro is available in eight paint schemes.
Mahindra Centuro (Mileage: 85.4 km/l)
The Centuro model is the most popular Mahindra model ever. With a mileage of 85.4 km/l, the Centuro boasts the features of having so many technology but with a reasonable seling price. The model is fitted with an anti-theft alarm, and also introduces a digital dashboard that sends out reminders whenever you’re travelling on eco-mode or when your bike needs servicing. The bike is also fitted with lamps that make it easier to find when parked in dark areas. The Centuro uses a single-cylinder engine with 106cc, and is fitted with a four-speed all-up shift pattern gearbox. The model is available with 3 colours—black, silver and red.
TVS Star City Plus (Mileage: 86 km/l)
First showcased at the Delhi Auto Expo in 2014, the Star City Plus is an upgrade from Star City, TVS’s most popular model. The Star City Plus introduces some added features and cosmetic changes. The model also comes with a 110cc DLI engine and a four-speed gearbox. TVS Phoenix inspires the design upgrades of Star City Plus, with a crown visor, new rear-view mirrors, a muffler guard with stainless steel and side panel grills which is honeycomb-textured. The model has four colour options—black, blue, grey and scarlet.
Bajaj CT 100 (Mileage: 89km/l)
Bajaj is proud to claim that its motorcycle is the most affordable in India. With a 102cc single-cylinder engine, it can go up to 90km/h in speed, and has a 4-speed constant mesh transmission, with drum brakes on the front and the rear. Bajaj launched a newer version of the model, the CT100B, which a more affordable version than its predecessor, and is targeted to customers of rural areas. The selling point of the new model is that it has low maintenance but high fuel efficiency. The CT100 is available in four paint schemes.
TVS Sport (Mileage: 95 km/l)
TVS Sport, also known as the TVS Star Sport, is a ‘sportier’ version of TVS Star City, but it is based on the older version of Star City. Compared to a standard bike, the Star Sport has sportier graphics supported by a racier front cowl. The basic specifications of Star Sport are similar to Star City.The engine is a 109cc single cylinder, and is fitted with a four-speed sequential gearbox, and drum brakes on the front and the rear.
Bajaj Platina (Mileage: 104 km/l)
Coming at number 1 is the Bajaj Platina motorcycle. Positioned above the CT100, the Platina Comfortec is targeted at customers who want a hassle-free commuter motorcycle. To offer a more comfortable ride, the model is updated with a reworked suspension. The Platina Comfortec boasts an extremely frugal 102cc engine and is considered as one of the most fuel-efficient motorcycles in India, with a mileage that is the highest among others in this list. To increase the comfort levels, the model is fitted with a cushier seat and rubber footpegs. The overall design is basic and has a very conventional look.
When buying motorcycles, customers always look for many factors other than mileage. Some may want a simple design yet can travel very far, but there are also those who prefer a sports-type of motorcycle that is also comfortable at the same time.
Nonetheless, one must always look out for all information regarding the motorcycle that they are interested in buying. One thing is for sure, make sure that you ride the motorcycle safely on the road to reduce traffic accidents.