Poor riding habits may lead to life-threatening outcomes; further, this could affect your bike insurance coverage along with the premium amount. That is why developing safe bike riding behavior is so crucial for ensuring increased financial coverage and lower premiums.
Putting it together, safe bike riding combined with selecting the right bike insurance policy ensures greater financial protection. Continue reading to learn how riding behavior affects premiums.
How Safe Riding Habits Lower Your Bike Insurance Premium
Safe riding habits help you on the road and influence how insurance providers calculate your risk profile. Your behaviour as a rider plays a key role in determining how much premium you have to pay for your bike insurance.
1. By Following Traffic Rules
Following traffic rules is one of the key factors an insurance company considers when setting your premium. If you have violated any of these traffic rules or defaulted on challan payments, it may reflect your irresponsibility towards traffic guidelines and leniency in the traffic laws. This frequent offense can lead to insurers concluding that you are not committed to safe driving.
Hence, make sure to pay the challans on time and follow the traffic rules strictly, as failure to do so may result in higher premium amounts. Discipline while driving can help protect your safety and credibility as a driver, thereby lowering your premium.
2. By Riding with Valid Bike Insurance
According to the Motor Vehicle Act 2019, a third-party bike insurance policy is compulsory for your vehicle. It would provide financial protection against injuries, death, or property damage caused to another person during an accident.
From an insurer’s viewpoint, if you have a record of riding without any valid insurance policy, this shows irresponsible behavior. Consequently, they might perceive you as being a high-risk rider. Hence, when you apply or get your bike insurance policy renewed, they will quote higher premiums.
3. By Limiting Rash Driving
Reckless driving is dangerous, and it can also put others at risk. Insurance companies can assess the behaviour of a driver, and good driving behavior reduces the premium amount. On the other hand, rash driving indicates that you are more likely to be involved in accidents, for which insurance companies charge more premium in order to cover that risk.
Other than the financial repercussions, rash driving can lead to serious injuries, prolonged legal issues, or even fatal results. Safe driving is beneficial for your safety and well-being. It eventually helps you keep your bike insurance premium low, as it indicates a lesser chance of making a claim.
4. By Avoiding Negligence and Drunk Riding
Getting involved in an accident due to drunk riding could dramatically ruin your riding record. These are major red flags for insurance providers because they show that the rider has not met the basic and minimum roadway safety standards.
When an offense is filed, your riding records get affected, and the insurers consider you as a high-risk rider. This often results in increased premiums, strict terms for coverage, and, in some cases even denial of coverage. Hence, be focused while riding on the road, which is one of the decisive factors in premium rates.
Tips for Safe Riding Habits to Lower Bike Insurance Premium
When you ride responsibly, you naturally reduce the risk of accidents. Some of the essential riding safety tips in India to lower your bike insurance premium are explained as follows:
1. Follow Traffic Rules
Insurance companies refer to your history of traffic violations to understand your riding performance and set your insurance premiums accordingly. Therefore, it is always advisable to follow the traffic rules strictly to avoid higher premiums. You should abide by the traffic rules properly in order to get suitable bike insurance.
2. Pay Your Challans on Time
Challans represent the fines imposed on traffic violations by officials. Insurance companies track these challans in your name to understand your violation history. Not paying a challan affects your riding behaviour, as this shows leniency in traffic rules.
Therefore, if there is any challan issued in your name, it is necessary that you pay it before the due date on time to avoid cancellation of the insurance policy or higher premiums.
3. Never Ride Rashly
Nowadays, several youngsters often engage in rash driving without knowing the repercussions. Such type of driving may increase your bike insurance premium as it falls under improper driving practice. To enjoy the benefits of lower premium and better coverage, drive safely.
4. Be Careful with Road Accident History
Road accidents caused by negligence reflect negatively on your bike riding record. Bike insurance companies check the history of accidents due to negligence or intoxication. So, you should be careful while riding a bike and should not get involved in accidents. Else you have to pay a higher premium.
5. Minimise Regular Claims
Frequent claims with the insurance firm show that you have a record of accidents and subsequent damages. The insurer takes your claim history into account while determining your premium amount. For having a good track record, it is recommended not to claim minor damages.
Further, insurance companies incentivize safe and responsible riders by offering a No Claim Bonus. If you do not file any claim during the policy year, the renewal premium is reduced by the insurer.
Understanding these riding safety tips in India, besides following traffic guidelines, will help you gain lower bike insurance premiums. With disciplined riding behaviour, you are not only protecting your life and well-being but are also portraying yourself as a low-risk rider, and ultimately getting you cheaper bike insurance premiums in the long run.
Deputy Editor at Bike India and Car India. Food for the body. Fuel for the soul. IG/t: @BikeIndia f: /BikeIndia
Jim Gorde – who has written 323 posts on Bike India.
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