Getting a motorcycle insured from a reputable company is as important as getting an inclusive coverage policy. No matter what insurance policy you have planned for your motorcycle, unless your insurance provider offers a smooth claim settlement, it’s not worth it. If you are a new driver with no knowledge about motorcycle insurance, finding the right company might be challenging.
This detailed guide will help you secure comprehensive insurance coverage with a reputable company. It is designed to walk you through the process of finding the best motorcycle insurance. So, let’s begin!
How To Find The Best Motorcycle insurance
Whether you’ve just moved into a new country or it’s your first time getting insurance, here are a few tips to help you select a reputable company.
1. Ask People
This specifically applies to people who have moved to a different country. If you are new to the place then it’s better to look for those insurance companies that your friends and neighbors recommend. People who live there will have a better idea of who is the best in the industry. Talking to them will also give you some essential insight into how the company actually treats its customers.
2. Compare Quotes Online
Thanks to this digital era, finding the right insurance company has become a cakewalk. All you have to do is go online and look for the best insurance providers in the market. While you’re at it, make sure you also compare their quotes. Most reputed companies also have a dedicated customer executive to answer your questions. Get all your basic queries cleared before you decide to visit the office in person.
3. Check For Online Reviews And Testimonials
The internet has given people the liberty to leave their valuable reviews for future customers. Hence, before selecting a company, make sure you check the testimonials and reviews left by the previous customers. Online reviews give you an insight into the first-hand experience of a customer. Only select the companies that have high positive ratings and reviews from verified customers.
What Should You Look For In An Insurance Company
The research stage will help you prepare a list of the top insurance companies but you will need certain parameters to choose the best amongst them.
Here is a list of the six things you should look for in an insurance company:
1. Reputation Of The Company
Whether it is insurance or any other product, it’s important to check the company’s reputation before you make the purchase. Opting for a reputable company will ensure that your money is safe. This is especially important when it comes to financial investments.
For many years, well-known companies that have been in this industry also have a higher number of garages in their network. This might seem insignificant at first. But if your car breaks down in the middle of nowhere, then a company with a wide network of garages might be able to help you out.
2. Claim Settlement Ratio
The claim settlement ratio is basically the number of claims raised by the customers and the number of claims settled by the company. It’s often seen that insurance companies try to avoid settling claims or settle them for the minimum amount possible. Hence, it is important to opt for companies that offer impeccable services to their customers and settle claims on time.
After all, your insurance coverage will be of no use if you are stuck with a wrecked car and the insurer refuses to pay. If you buy auto insurance from reputed companies like Surex, you do not have to worry about not realizing your claim.
You should always opt for a company that offers comprehensive coverage. A company that has multiple policy options for your motorcycle should be your ideal choice. Also, make sure that the company you choose offers all the add-ons including road assistance, zero depreciation, tire protection cover, and passenger cover. After all, if you invest in an adept company, you should not be limited by choice. You shouldn’t consider an insurer that cannot provide you with sufficient options.
4. Company’s Financial Strength
Before you get involved with an insurer, it is essential to check their financial strength. Suppose you land into a severe accident that will require expensive coverage.
In this case, if your company declares that it cannot afford to settle your claim, you will have nowhere to go. You can certainly file a lawsuit against the company later. But you would be left unassisted as far as your present financial requirements are concerned.
5. Convenience and Ease Of Doing Business
Times are changing. In today’s fast-paced life, no one has enough time to wait in long queues or spend hours waiting to get an issue resolved. Hence, along with the policies, you should also check the customer service of the company.
Additional perks that increase the potency of an insurer include:
• 24/7 customer support
• Online transactions
• Online claim reporting
• Quick response from the company
• Detailed information on policies
Since insurance is a costly affair, a discount will go a long way in saving you your hard-earned money. Plus, when you get the same service at a lesser price, you shouldn’t miss the opportunity. Make sure you hunt for any discount that the company offers on the following parameters:
• No claim bonus
• Buying multiple coverages
• Customer loyalty
• Advanced renewal
• Lesser annual mileage
So that was all about finding the best insurance company for your motorcycle. Narrowing down on a reputable company is not a difficult task, courtesy of the tons of options available online. All you need is thorough research, comparison of quotes, and zeroing in on the company that best matches your requirements.
Different people have different insurance needs and policies should be framed accordingly. Also, if you want to keep your money in safe hands, never compromise with the reputation and history of the insurance provider.