Change in Bike Impact on Two-Wheeler Insurance Premium | PayBima

Is Two-Wheeler Insurance Premium Affected by the Change in Bikes in India

Bought a new bike and you’re not happy with it? The best option for you is to go and change the bike. There is nothing wrong with maintaining the bike you own in terms of performance and appearance. The only mistake you should avoid is not checking the RTO rules for changing bikes before going to any change. No matter what type of two-wheeler insurance policy you have purchased, there is always a chance that your insurance premiums will increase if you modify your bike in some way. Why does this happen and how?

In this post, we want to help you understand how changing bikes affects you two wheeler insurance?

Why Should You Buy Two Wheeler Insurance?

Whether you admit it or not, driving a two-wheeler is always more dangerous than driving a four-wheeler. You as a two-wheeler driver not only put yourself, but others on the road, and your vehicle is at risk every time you drive your bike or two-wheeler. To reduce the risk of an accident, injury, loss, or risk to others, cyclists should purchase two-wheeler insurance.

Today, all the popular insurance companies offer two wheeler insurance online. It’s their way of encouraging more and more people to choose hassle-free bike insurance with little or zero paperwork. Before buying two-wheeler insurance, make sure you calculate your premiums using a reliable online insurance calculator.

What is a Bike Replacement?

Sometimes the bike that a person buys does not fit well with his performance or beauty. Sometimes, if both of these are satisfactory, the cyclist is worried about the bike being stolen. So, one solution to all three problems of performance, aesthetics, and theft, is the right bike modification. With a little modification of the bike, the car can satisfy you in terms of performance and beauty. Also, with the right security systems, you can avoid the possibility of your bike being stolen. These are also important bike changes for the modern cyclist.

Legally Modified Types of Bicycles in India

Now that you know what bike swapping is, it’s time to learn more about the different types of bike swapping in India. Legal bike modifications in India can be of three main types and they are:

  1. Updates: The most common bike modification that a cyclist often chooses depends on their performance. In order to speed up and improve the performance of their bikes, cyclists put in place ways to increase the speed and flexibility of their bikes. Naturally, the speed of the bike increases the chances of accidents too. So, according to the bike modification laws in India, bike insurance rates go up for such bike modifications.
  2. Changes to Aesthetics: Many cyclists buy a bike but then become unhappy with the look of the bike. Then they choose to customize their bikes by installing a new seat cover, adding headlights, or changing the color of the bike. With more features, the chance of bike theft increases. According to the RTO’s bike modification rules, when there is an increase in the chances of bike theft due to the cosmetic modification of the bike, the cost of bike insurance will increase.
  3. Security Updates: The third type of bike modification that cyclists get on their bike is the safety modification. For any cyclist, a bicycle is a precious commodity and they do not want it to be stolen. Therefore, they choose to install the best security measures such as advanced alarms and locks. Those who choose to install ARAI or the Automotive Research Association of India’s popular anti-theft tools and systems on their bikes are in for a treat. With these devices, the chances of their bike being stolen are reduced, and so is the amount of bike insurance. However, as mentioned this only applies if the security systems are ARAI approved systems.

Effects of Bicycle Changes on Two-Way Insurance

You have an idea of ​​how a bike modification can affect your two-wheeler insurance. With every change in bike size or size, there is a chance that your two-wheeler insurance coverage will go up or down. However, keep in mind that not all types of bike modifications change your two-wheeler insurance coverage. Some of the ways that a bike modification can change your two-wheeler insurance are:

  1. ARAI Safeguards: Surprisingly, some bike modifications can reduce your premiums, such as fitting an ARAI approved safety system to your bike. These systems reduce the chances of bike theft, and therefore lower insurance rates.
  2. Wheelchair Adaptation: Similarly, if you replace your bike due to some disability, chances are that the insurance will not increase your premiums. There is a possibility that the insurer will give you a discount on your two wheeler insurance premiums for changing the bike for disability reasons.
  3. Bike Insurance Increases with Increase in IDV: Another thing to remember is that when a bike modification increases the IDV or Insured Declared Value of your bike, the insurance premium will definitely increase.

Know More: 5 Important Points to Compare Two-Way Insurance Online in India

Insurance Companies Two Two Two Two Two

Here is a list of the best two-wheeler insurance companies that will adjust the insurance price based on the changes in your bike:

The end

In short, one thing is a clear insurance policy for bike modifications that go hand in hand. Any changes you choose will affect your two wheeler insurance premiums in some way. If you want to lower the amount of your two-wheeler insurance, you need to install ARAI protection system on your bike or two-wheeler. After all, if you add functionality or beauty to the bike, be prepared to shell out more for the premium insurance premium. A quick tip for you here is that whenever you want to change a bike, check the Insurance Policies for Bike Changer India and make an informed decision.

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