6 factors that affect the premium of a bike insurance policy.

 


Understanding your premium is the first step towards getting the perfect bike insurance coverage. However, if you are a newcomer to the world of insurance, you can easily get confused about the insurance premiums and wonder how the premium price is even related to anything else other than just the services it can cover!


Nonetheless, to make things clearer, here are 6 factors that affect the premium you pay for your bike insurance -

 

1)    Bike’s condition and characteristics - High-end models of bikes that have a higher than average Cubic Capacity(CC), would have a higher premium than the bike models that are more commonly seen on the road. The number of kilometres the bike has driven, its fuel type, the modifications, and even the bike’s current market price are considered when evaluating the premium.

Residential security -  Your insurance premium can go up significantly if you do not have a designated parking spot and have to park your bike in the open. The area of your residence also matters. If robbery and theft are not very uncommon in your neighbourhood, the premium will be calculated according to the risks involved.

Original:- 6 factors that affect the premium of a bike insurance policy.


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