Discounts on the insurance can substantially reduce the financial burden your pocket will have to bear. Factors like anti-theft system, gear lock system, good driving record etc., can reduce the annual premium of the vehicle insurance by up to 5%. This is because these factors enhance the safety of the car; the insurer, thus, reduces the cost of the premium and this benefit is utilised by the consumer. Make sure you check for the same before buying.

Besides further adding protection to your vehicle, add-ons allow you to customise your vehicle as per your needs. Many insurers provide recommendation based on your need, the age of the vehicle, its age and several other factors. These small add-ons, like roadside assistance, nil-depreciation, and personal cover, provide a substantial amount of benefits over and above the main policy. While such add-ons may increase the premium of the vehicle insurance, these are well-worth the cost as these provide extra protection to both your vehicle and you.

The premium of a vehicle is decided on the bases of IDV, or Insured Declared Value. While renewing the insurance, the agent might decrease the IDV vehicle in order to lower your vehicle's premium. This is called undervaluing and is not advisable because undervaluing can be a hindrance when you are claiming the right amount for the loss incurred by you. This in turn can lead to your vehicle being treated as a write off in case of an accident. It is true that lower IDV means a lower premium and higher IDV means a higher premium. However, if you wish to lower your premium, undervaluing the car is certainly not the way to go.

With two wheeler insurance easily available online nowadays, you can save more on your insurance. Moreover, insurance providers selling vehicle insurance online, enable you to manage and pay your vehicle insurance online, making it much more convenient than the traditional route.