BMW Bike Insurance

Where can I buy BMW bike insurance?

Traditionally, bike insurance could be purchased through an agent or middlemen, required a lot of paperwork and you have to approach the insurer’s branch office to resolve issues. However, new-age insurance companies have revolutionised the way customers can interact directly with the insurer. This is possible via the internet. You can visit the website of insurers such as Acko to buy bike insurance online hassle-free and at a competitive price in the market.

Is BMW bike insurance expensive?

The insurance cost is based on different factors such as the cost of the vehicle, year of manufacture, the location of the vehicle, etc. Hence, the value of the bike determines the bike insurance premium BMW bikes. That said, the cost of insurance is lower bought through online insurance companies. Digital-first insurers do not have insurance agents or middlemen which has resulted in the reduction of the company’s operational costs. This has led them to offer one of the best bike insurance for BMW bikes and online insurance has brought customers and insurance companies to transact directly.

How long does it take to renew BMW bike insurance?

Immediately! This is achievable through new-age digital insurance companies. They have transformed their operations into a digital environment making the entire renewal process faster and quicker than ever before. Visit the insurer’s website or access their smartphone app to log into your account to renew the policy instantly and receive the policy to registered email address.

What documents are required to insure my BMW G 310 R?

Traditionally, you had to submit several documents to insure your two-wheeler; however, with insurance companies increasingly using the internet, they offer online and paperless transitions. Insurers such as Acko promote paperless transactions. You need details such as the registration number of the bike, location of the bike, year of manufacture and previous insurance policy (if required). These details are enough to insure your BMW bike instantly.

How to decrease the insurance cost of BMW bikes?

The cost of insurance for the bike depends on the value of the vehicle, the model and the year of manufacture, the location and the variant; however, you can still decrease the price. This is possible through digital insurance companies which deal directly with customers and removing the need for an agent to sell the insurance. Also, you can become a member of associations such as Western Automobile Association of India or the Automobile Association of India. Additionally, you can install security devices such as anti-theft devices as insurers take this into consideration while pricing the insurance policy.

How does IDV impact the insurance cost?

IDV or Insured Declared Value is the sum insured amount or the approximate market value of the bike. This is paid to the policyholder in case of total loss or damages to the insured bike. While purchasing the insurance, you have the option to increase or decrease the IDV. Hence, if the IDV is increased, the insurance cost increases and vice versa as well.

What are the best Add-on covers for BMW bikes?

Add-on covers are offered when you buy Comprehensive bike insurance. The basic insurance policy does not cover certain losses and damages such as damages to the engine, pillion rider cover, etc. However, Add-ons provide that extra edge to the standard insurance cover. You can opt from various add-ons depending on your requirement. You can refer to details of various add-ons available for two-wheeler insurance mentioned-above.

My BMW bike insurance has expired. Is the inspection required to renew the policy?

Usually, the insurance company provides a 30-day grace period from the expiry date to renew the policy. Furthermore, you can still renew the policy after the grace period by paying the required penalties. During such scenarios, the insurance company will assign a surveyor to inspect the bike before the insurance policy is issued to the vehicle.

Can I port my bike insurance policy to a new insurance company?

Yes, you can port the bike insurance from your existing insurer to a new insurance company. Visit the new insurer’s website or their mobile app to insure your vehicle. You will need details such as the registration number, location, model and year of manufacture of the bike and existing policy details to renew or insure your bike insurance.

Should I opt for the bike insurance from my BMW bike from the bike dealer?

Generally, the bike dealer will arrange to insure your bike. You can also approach the insurance company to insure your bike. You can opt for online insurance companies who have made insurance-related services easier and efficient for customers.