The Growing Demand for Custom Bike Insurance in India

What is Custom Bike Insurance?

Custom bike insurance can be called an extension of regular bike insurance. It is designed to provide tailored protection to your high-quality vehicles, along with the modifications that you have made.

Think of your standard insurance as a meal, something that covers the basics. But if you want to add toppings to your meal, you pay extra. This is how custom bike insurance works. You get standard coverage and coverage for your extras, which you have added, such as GPS trackers, retro-styled handbars, quirky paint, or more.

Simple meaning? It protects the true cost of your bike.

Why You Need to Go Beyond Standard Bike Insurance?

Your high-value luxury or custom bikes are built with custom features and exotic components that need special protection against costly repairs and damage.

Here is how the same might be lacking with the standard bike insurance.

Higher Repair Expenses

Customised or luxury bikes have certain parts that are high-value and unique. This makes repair or replacement comparatively expensive. Such expenses might not be fully covered in standard insurance. Thus, making custom bike insurance a specialised insurance that you need for adequate protection of your custom bikes.

Limited Coverage for Aesthetic Mods

Typically, standard bike insurance offers limited coverage for such customisations, leaving some room for financial risks. Custom policies, on the other hand, include basic coverage plus customisations.

Growing Demand for Custom Bike Insurance

Here is why custom bike insurance is growing in India.

1. People are spending big on bike mods. Result? The more you modify, the better insurance you need.
2. The rise in sales of high-value bikes or superbikes is also increasing the demand for specialised bike insurance in India.
3. Riders are becoming better aware of the benefits of custom bike insurance and how small mistakes can lead to claim rejections.

Benefits of Custom Bike Insurance

Here is how opting for custom bike insurance can protect your high-value bikes.

The Coverage Limits are Higher

The coverage limit with custom bike insurance in India is generally higher. This ensures the highest possible value of your bike is insured in case of damage, repair, or replacement.

Comprehensive Coverage

What might not be included in your standard coverage like custom, will probably be covered in custom insurance. This means even your bike enhancements and accessories are protected.

Stress-free Ride

With such specialised bike insurance, you need not worry about every minor scratch that can turn into costly repairs. You drive with peace knowing your bike enjoys adequate protection.

Policies are Tailored

You can shape your custom bike insurance around your bike. This means your bike insurance is based on your needs and the coverage you want for your two-wheeler.

Boosts the Resale Value

With official coverage for mods, you also increase the resale value of your high-value bikes.

Attractive Add-Ons

You also get to avail several attractive add-ons that can be included in your custom bike insurance. For example, personal accident cover, roadside assistance, and more.

Tips to Lower Your Bike Premiums

Specialised protection costs more, but you can keep premiums in check. Here are some easy tips and ideas where you may save on bike insurance premiums costs.

A Higher Deductible May Help

Think of your insurance deductible as a portion of your claim which is agreed to be settled by you, the policyholder. It is your contribution in case of repair, replacement, or damage. So, choosing a higher deductible can help reduce the bike insurance premiums because of the risk shifting.

Note: Carefully choose a deductible amount that you can afford in the event of a claim.

Add Security Features to Your Bike

Adding security devices for your bikes, like anti-theft devices, GPS trackers, and alarms, reduces the theft risks. This way you can lower your bike insurance premiums.

Having a Clean Driving Record Helps

Several insurers also reward individuals with safe and clean riding records in the form of premium discounts.

Use Your No-Claim Bonus

For each claim-free year, you are awarded a no-claim bonus from your insurer. You may accumulate these NCB benefits, which can then be used to avail up to 50% discounts on your upcoming bike premiums.

Compare, Compare, Compare

One effective way to choose is to compare your options. At Jio Insurance Broking, you can compare different policies provided by different insurers. Look into the features, benefits, and coverage to ensure you lock in a suitable and cost-effective option for your bikes.

Things to Keep in Mind

Here are some things to keep in mind while locking your bike insurance.

1. Disclose everything correctly to your insurer. Hiding your modifications or lying about the same may lead to claim rejections.
2. If you plan to make modifications to your existing bike, make sure to discuss with your insurer in advance about the coverage.
3. Safely keep your bills or receipts. These might come in handy in the event of a claim.
4. Select suitable riders based on your bike and ensure your policy is comprehensive.

Wrapping Up

Custom bikes are more than just machines; they’re your passion on wheels. It becomes crucial that you give them the right coverage. Custom bike insurance can protect your high-value bike, the customisations you added, and all the effort you put into it. Bottom line: If your bike is custom, your insurance should be custom, too.