Tips to Lower Your Two Wheeler Insurance Premium in 2025

Posted on: Dec 23, 2024 | 3 mins | Written by: HDFC ERGO Team

Tips to Lower Your Two Wheeler Insurance Premium in 2025

With new year 2025, not that far away, it is right to reassess all your financial investment and assets. Also, it is important to enhance the security of your valuable asset in the coming year. One important thing is your two wheeler insurance policy. In 2025, you can follow certain tips to save on your bike insurance premium and also get the best coverage.

1. Opt for a Higher Deductible

A higher deductible means you’ll pay more out-of-pocket in case of a claim, but it can significantly reduce your annual premium. Consider increasing your deductible if you're a careful rider and feel confident that you won't need to make frequent claims.

2. Install Anti-Theft Devices

Insurers offer discounts if your two wheeler is equipped with modern anti-theft devices such as GPS trackers, immobilizers, or alarms. Investing in these devices not only keeps your bike secure but also reduces the chances of paying higher premiums due to theft risks.

3. Maintain a Clean Riding Record

A history of accidents or traffic violations will likely increase your insurance premiums. Conversely, a clean record can help you qualify for discounts. Follow traffic rules, avoid speeding, and prioritize safety to maintain a good riding history.

4. Choose Limited Coverage for Older Bikes

For older motorcycles that have lost significant value, opting for third party bike insurance can be more economical than a comprehensive bike insurance policy. If your bike is over five years old and doesn’t have much resale value, a limited coverage policy may be sufficient.

5. Review and Update Your Policy Regularly

As your circumstances change, so should your insurance. Regularly reviewing your policy ensures that you’re not over-insured and paying unnecessary premiums. If you've made upgrades to your bike or commuting less, contact your insurer to adjust your coverage.

6. Consider Electric Two Wheeler Insurance

With the rise of electric motorcycles and scooters, insurers may offer lower premiums due to the reduced risk of accidents and the eco-friendly nature of electric vehicles. If you own or are considering purchasing an electric two wheeler, inquire about special discounts for electric vehicle owners.

7. Opt for a No-Claim Bonus (NCB)

Insurers offer No-Claim Bonus (NCB) for riders who don’t make any claims during the policy period. The NCB can be carried over to the next policy renewal, helping to lower your premium. Avoid making minor claims and try to maintain a claim-free record to avail up to 50% discount on your bike insurance premium.

8. Compare Different Insurance Providers

Insurance premiums can vary significantly between providers. Taking the time to compare quotes from different insurers could help you find the best deal.

9. Reduce Excess Coverage

If you're looking to save money, review your coverage needs and eliminate any optional add-ons that are not necessary for your bike's use. Remove unnecessary add on cover if you don't think you'll need it.

Conclusion

Lowering your bike insurance premiums in 2025 is achievable with a combination of smart choices and proactive steps. By following these tips, such as installing anti-theft devices and maintaining a safe riding record, you can enjoy affordable insurance without compromising on the necessary coverage. Regularly reassessing your two wheeler insurance policy and staying updated on new trends and discounts will also help you stay ahead financially.

Disclaimer: The above information is for illustrative purposes only. For more details, please refer to the policy wordings and prospectus before concluding the sales.

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