Your bike is your way of traveling around the nooks and corners of the urban landscape. It might happen that you would need to use your bike sparingly and may not have clocked a lot of kilometers on it. Hence it is very likely that you may consider not taking insurance out since it is not used that much.
Our recommendation is – Do not forego taking out bike insurance at any cost, even if it is sparingly used.
Not using the bike much cannot justify not having valid bike insurance. There are many reasons why this is the case.
Are you interested to know the reasons behind this recommendation? Then read the below post and be better informed.
Why is it Important to Have Valid Insurance for a less used Bike?
- You are legally obliged: As per law, you cannot ply your two-wheeler without valid and active insurance. Even if your bike is used once or twice a month, this cannot be why not opting for proper insurance coverage. In case you are stopped by a traffic policeman, you will likely have to pay a fine or even have your bike impounded due to improper paperwork.
- Better Protection: Less usage of the bike means your driving skills on the road may dip a bit with less regular commuting. Hence it makes total sense to go for insurance coverage in this case. Accidents will not happen with prior intimation. It is better to be covered by a two-wheeler insurance policy rather than not having any coverage and then paying hefty bike repair bills and hospitalization costs in case of bodily injury.
- Will Fetch Better Resale Value: If you aren't using the bike regularly, there is a high likelihood that you may consider selling it off at some point in the future. In such a case, advertising for a used bike will show remarkable outcomes if you mention that you have a valid insurance with the less used bike.
- Better Gains from NCB: With less road travel, it will mean that the chances of raising claims will be far less. This means that you will be eligible for the No Claims Bonus (NCB) for next year's premium renewal. As such, you will pay a lesser amount as a premium in the subsequent years.
- Option to go for Long-Term Plans: Since you aren't using the bike much, there are chances that you may skip on timely renewal inadvertently. This may lead to unnecessary charges being levied on you for overdue renewal. The good news is that now you can renew your bike insurance for the long term. Instead of going simply for a one-year policy renewal tenure, many insurance companies now provide the option to go for 2-year or 3-year coverage with a single payment. This means no late charges and no delays in renewal for your two-wheeler.
These reasons show clearly that you need to have proper insurance for your two-wheeler irrespective of the amount of usage on the road. Do compare online and get appropriate coverage for your less used bike at the lowest prices.