1) Clean riding record:
You should have a clean riding record as the insurance companies also look at your riding nature. Insurers prefer people who are less involved with accidents and collisions. Companies do not want to burden itself from paying recurring claims of a person. If you have a clean riding record companies will charge a lower amount of premium compared to others.
2) Riding association:
If you are a member of riding association then you may get a discount on the premium payment. Some companies waive up to 5% of the payment if one is a member of the riding association.
3) 3 year two-wheeler Insurance:
Usually, companies offer 1-year insurance for two-wheelers but nowadays 3-year two-wheeler insurances are also available. These 3 years two wheeler insurance proves to be cheaper than 1-year insurances. One can save up to 20% on the premium to be paid if he/she takes a three year two wheeler insurance.
4) Voluntary excess:
In order to reduce the premium amount, one can opt for payment of the higher voluntary excess amount. Excess is the amount which the insured is liable to pay at the time of claim.
5) Ensuring vehicle’s security:
If a person gets his vehicle secured from theft and burglary then insurance companies are likely to charge a lower amount of premiums from you as they are assured that you have taken all the necessary measures to protect your bike from the risk of getting it stolen. One can invest in ARAI-approved security features to be eligible for lower insurance premiums.
6) Avoid small claims:
One will be to reduce his/her premium if he/she avoids small claims like repair of the vehicle because of scratches or dents. The chances of reduction in the premium increase when you renew the policy increases because of the no-claim bonus.
7) Pay the premium in one lump sum:
If you pay your premium in one lump sum after purchasing the policy then it will cost you less from the way of payment of premium in monthly instalments.