How Does Bike Modification Impact Two-Wheeler Insurance Premium?

How Does Bike Modification Impact Two-Wheeler Insurance Premium?

If you have a motorbike, you know the whole thrill of owning one. It’s a style statement and adds a certain trendiness to your personality. It’s only natural then that you’d want to make some modifications in your bike from time to time to enhance its look, feel and performance. However, did you know that if you choose to make any change to your two-wheeler, you need to inform your insurer as well? Yes, any modifications to the original bike you own has a direct impact on your bike insurance. This post details more on how such changes have a direct effect on your purchased bike insurance online.

How Changes in Bike Appearance Impact its Insurance

While some bike-owners are perfectly happy with the way their bike looks at the time of purchase, there are some adventurous riders who constantly want to experiment with its appearance. For instance, some may want to change the bike color to make it look more classy, while some others may change the seat cover to give it a different look. Some may play around with the headlights to make them look flashy. 

You’re free to do whatever you like; however your insurance company views it as an opportunity to increase the premium rate on your bike insurance online plan. This is because an attractive-looking bike only draws more attention, thereby increasing the risk of theft, and this is exactly what insurers fear. Besides, by improving your bike appearance, you have also increased its market value, which would inevitably change the insurance premium as well.

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How Performance Enhancement Impacts Bike Insurance

It’s not just how the bike looks that matters, but also how it makes you feel when you ride it on the road. Who doesn’t like racing a motorbike down wide and empty roads? This is why some bikers make modifications in their two wheelers to enhance its performance. 

The result – the bike becomes faster in speed and also delivers improved fuel-efficiency. With regard to your insurance provider, such upgrades are often viewed as “risky” considering that higher bike speed may amount to higher chances of road accidents.

As such, your bike insurance policy may need to be modified to include this higher risk, thereby increasing the premium cost for you on your plan.

How Security Fittings Can Impact Bike Insurance Online

The risk of vehicle theft is inevitable anywhere. This is why most bikers, particularly after making upgrades to its aesthetic value, prefer making some security arrangements to safeguard their vehicle. A few examples include additional security locks or beeper alarm systems to prevent any risk of bike theft.

With the installation of these devices and gadgets, your bike is now classified as low-risk by your insurance provider. This means that the company now has reduced responsibility for your two-wheeler and would therefore need to charge a correspondingly lower premium rate for insurance.

How Additional External Fittings Can Increase Bike Insurance Premium

You may want to get some extra accessories/fittings for your bike from time to time, as and when the need arises. For instance, if you take long road trips often, getting a luggage carrier fitted to your bike would be very helpful. Make sure to inform your insurer accordingly since any external fittings are likely to raise the premium rates on your bike insurance online as well. 

How Modifications Made for the Differently Abled Impact Insurance

If the two-wheeler is going to be ridden by someone with a disability, certain changes may need to be done to make the vehicle suitable for their use. In this case, the good news is that your insurer would give special consideration to the modification made and would not demand additional premium rate on bike insurance. 

Moreover, you may even be in luck to obtain a special discount while purchasing your bike insurance online. Some insurance companies offer this privilege to encourage free movement among differently abled people and to help them feel independent. Do make sure to check with your insurer about any discount offers in this case during purchasing or renewing your bike insurance plan.

Summing Up

It’s always a good idea to intimate your insurer each time you go ahead with making any modification, minor or huge, to your current bike. This may or may not have a direct impact on your purchased insurance policy; however, it’s always good to check. PayBima offers excellent guidance and support in buying and renewing bike insurance online. Visit the website for more details.    

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