Motorcycle Insurance

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Looking At The Pros And Cons Of Not Changing Your
Vehicle Insurance Provider
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• In India, it is mandatory for every motorist to
  have at least a basic Bike Insurance policy.
  Apart from the legal compliance, having this type
  of coverage can truly protect your finances if
  your car suffers damages in a mishap or due to
  other calamities. Bike insurance needs to be
  renewed each year. During renewal, vehicle owners
  often wonder if they need to change insurance
  providers or whether they should stick with their
  current plan. This decision may vary from person
  to person depending on each ones needs.
• In this article, we will list out the pros and
  cons of not changing your vehicle insurance
  provider so that you can make an informed
  decision.

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Pros of not Changing your Vehicle Insurance
Provider

• If you stick with the tried and tested insurance
• provider whom you have known so well all along,
• you may enjoy the following benefits
• Loyalty discounts as per insurance providers
  terms
• Bundle discounts for maintaining other types of
  insurance products under one roof with the same
  provider
• Ease of communication with familiar names and
  faces at the insurance company
• In-depth knowledge of the same car insurance
  policy that you have had for so many years
• Comfort of automatic policy renewals that ensure
  your coverage is always active.

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Cons of not Changing your Vehicle Insurance
Provider

• We often hear people advise us to look around and
• explore other options of Motorcycle Insurance
• before renewing an existing policy. This is
  because
• there can be certain downsides to simply
  continuing
• with your existing coverage. These downsides may
• include
• Missing out on better coverage options offered by
  competitor companies
• Skipping on the opportunity to benefit from
  better customer service, especially if you are
  dissatisfied with your current provider
• Paying more for the same insurance policy simply
  due to the comfort of continuing it each year
• Losing out on coverage if your insurance provider
  has revised their policy details.

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• Do bear in mind that certain benefits such as
  the no-claim bonus (NCB) will be enjoyed even
  if you choose to change providers. Moreover,
  switching between insurance companies is free of
  cost. Should you choose to jump over to another
  plan before your current policy expires, you may
  get a reimbursement of the premium on your old
  plan.

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• It is advisable to keep your current insurance
• provider informed well in advance should
• you decide to switch policies and go
• elsewhere. Doing this is often considered to
• be good practice as your current provider
• gets an opportunity to inquire into what has
• led you to this decision. They may also try to
• retain your loyalty by offering you certain
• discounts or benefits in addition to what you
• already get.

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• Do keep these points in mind when deciding
  whether to switch between bike insurance
  companies. Make sure you research well and reach
  a decision that truly works for you. We hope this
  article has been helpful. Drive safe and take
  care.