January 2023


Renew Bike Insurance Online: The Process

During 2021, two wheelers have accounted for maximum fatal road accidents (69,240 deaths), contributing 44.5% of total road accidental deaths, followed by cars (23,531 deaths) (15.1%) and trucks/lorries (14,622 deaths) (9.4%).[1] This statistic shows that motorcycle riders are highly vulnerable to being involved in an accident.

With insurance, you are protected against financial loss in the event that your vehicle gets stolen, damaged, or otherwise compromised in any way. It can also protect you against damages to any person or property belonging to a third party that you may be held responsible for. For a convenient and easy way, it is always recommended to buy bike insurance online.

In addition, if you ride your bike without being covered by third-party liability insurance at least, you could be subject to significant fines. When you renew your insurance policy for your motorcycle in a timely manner, you keep yourself protected against unanticipated costs. The procedure for renewing your bike insurance online is outlined in this guide.

How to renew bike insurance online:

1) Renewing your bike insurance policy via online portals

To update your motorcycle insurance policy online, you can follow these steps:

  1. Go to the website of your insurance provider.
  2. Enter the specifics of your existing policy.
  3. Include add-ons if you wish to.
  4. Keep in mind that your vehicle’s Insured Declared Value (IDV) serves as the basis for the premium estimate that is provided.
  5. You may be eligible for a No-Claim Bonus if you did not file any claims during the prior year.
  6. You can make a payment online using your credit card, debit card, or through internet banking.
  7. Get a printout of the transaction for your records.
  8. You would shortly receive an email with the digitally signed soft copy of your insurance policy. Within a few days, you may also get the hard copy mailed to you by the insurance company.

* Standard T&C Apply 

2) Download the official mobile application of your insurance provider

Download the app offered by your insurance provider to ensure that you could be notified far in advance of any lapses in coverage that may occur. Even if you do not have access to a desktop computer or laptop, you can use the mobile app for bike insurance renewal while you are on the move. Although the specific actions could vary from one provider to the next, the essential approach will be the following:

  1. Download the official mobile app of your insurance provider
  2. Fill in all the relevant details pertaining to your bike and your existing insurance policy
  3. Accept all the terms and conditions
  4. You can use net banking or a card to pay the cited premium
  5. You can expect to get an instant confirmation of the renewal, as well as a digital copy of the policy, in your mail

* Standard T&C Apply

As you can see, the renewal of your bike insurance online or through an app is a hassle-free process that usually only takes a few minutes and guarantees that you will never be without coverage. You can also do a bike insurance check online for various policies before choosing one.

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

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Car Insurance Basics: IDV and Its Impact on Your Car Insurance Policy

IDV stands for Insured Declared Value, which is the approximate market value of the vehicle at any given time. This is the sum insured by the insurance company under the entire policy.

Let’s say, you bought an SUV car for Rs. 30 lakh and got it covered by Bajaj Allianz car insurance. However, after a year, its depreciated market price drops to Rs. 24 Lakh. If you file a claim at that time, you are eligible for the same insurance benefit of Rs. 24 Lakh. In the event of significant damage or total loss of the vehicle, full coverage may be available.

IDV in insurance is determined by the vehicle’s age and market value. For example, there are four different models of a particular car. The most recent or advanced model will be more expensive than others. As a result, the insurance company would provide more coverage for that model than for the others. As a result, the IDV for car insurance may be high.

Furthermore, regardless of model type, all vehicles experience gradual wear and tear. As a result, its value depreciates over time. The IDV in car insurance decreases as the cars get older. You can calculate your vehicle’s IDV right now using an online car insurance calculator.

The significance of IDV: IDV full form in insurance is Insured Declared Value. The IDV is significant because it represents the maximum coverage provided. It is determined by the depreciation value and the car’s current market value. When purchasing an insurance policy for a car or any other domestic four-wheeler vehicle, the IDV is determined by the insurance provider. *

If the IDV is high, it means more coverage and as a result, higher car insurance prices. *

Should you opt for low IDVs in car insurance?

People frequently choose low IDVs in auto insurance on purpose. They undervalue their vehicles to avoid paying higher premiums. Although you can reduce the IDV based on depreciation, you should never undervalue your vehicle. To have a lower IDV, it should be at least its current market value.

Lower IDV has low premiums because it provides less coverage. If your vehicle sustains significant damage or is totalled, your insurance payout may be reduced. It could be less than the car’s actual value. In this case, you may suffer a financial loss. You will be compensated as per the Insured Declared Value in the insurance policy. *

Therefore, never undervalue your four-wheelers and never settle for a lower IDV. This will limit your maximum claim and coverage even if you could be eligible for more. * Standard T&C Apply

Factors Influencing IDV in Car Insurance:

  1. The car’s manufacturer, make, and model.
  2. The registration year determines the vehicle’s age.
  • In car insurance, the city of registration is essential for IDV because market prices differ in different states and cities.
  1. The car’s depreciation rate
  2. Surveyors/car dealers determine the depreciation value over five years based on the vehicle’s condition.
  3. The Insurance coverage varies depending on the insurer. The insured can negotiate the policy’s limitation and maximum cap.

* Standard T&C Apply

The maximum coverage amount in car insurance is determined by the IDV. It is the actual sum that the insurance companies will compensate in the event of a theft or significant vehicle damage. It is the amount that your car is worth. Therefore, it is crucial to calculate IDV correctly and buy your policy from a reliable provider.

Do check out Bajaj Allianz car insurance policies as they have a high claim settlement ratio of 98%.

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

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Choose the Right Truck for Your Construction Business with the Help of these 4 Tips

Construction projects vary in terms of size and scope, from large-scale buildings to residential remodels. And in order to finish projects right on time, you will need more than just understanding the commercial construction glossary. You will have to depend on heavy trucks to dig trenches, move materials, and efficiently carry out other tasks.

But with a lot of options in the market, it might be difficult to know the best trucks to buy for your construction company. This is why it is best to look at the following tips to ensure you choose the right trucks:

1.     Have a Reasonable Budget

Commercial trucks serve as utility vehicles. That means they are more costly than regular trucks. If you are looking to buy several trucks, you might want to speak to a financial advisor in your company to help you set a budget.

A good budget should be based on the growth projects of a business. This way, all the trucks you buy will meet the needs of your company for many years to come. Plus, whether you are looking to buy a used or new commercial truck, it will still be best to have a good budget.

2.     Consider the Truck’s Condition

Remember, this is a commercial truck meant for your construction business. So you might want a truck that reflects the value of your construction business. This is especially true if you will be branding it in a way.

Getting a truck, which is in poor condition will make your construction business look bad. You don’t have to get a brand-new truck. But this doesn’t mean you get a truck, which is in bad condition, either.

3.     Look at the Kind of Construction Services You Provide

Before you research every truck, which boasts more toughness and raw power than excavator advertisements, it will be a great idea to consider what your trucks should do for you.

Overlooking the hauling capacity and the weight of material may cost you cash in fuel, repairs, and time. So the best way to get the right truck for your construction business is to know whether it will be delivering bulky and heavy materials to a work site.

If most of the supplies are stored and delivered onside, choose a truck that will meet the requirements of your construction work and save you cash on upfront costs.

4.     Prioritize the Truck’s Durability

As far as buying a commercial truck for your construction business is concerned, the power and the engine’s durability are important.

In other words, you will need a commercial truck, which can last longer so as to ensure your business saves on the cost in the long run.

Whether you prefer new or used commercial construction trucks, their durability must be the key factor before getting one.

In a Nutshell!

Commercial trucks are specialized vehicles with open and deep beds, making them helpful in various specialized industries, including construction. But not every commercial truck is created the same. Some are light and medium, while others are heavy-duty. It will be upon you to know your business needs before buying the right truck for your construction company.

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How to Find the Best Tire Store in Austin, TX

Selecting an ideal tire for your car can be challenging, especially if you are a first-timer. Nevertheless, understanding the basics can help you save money and time. Your car’s specifications and how you use it will highly determine the type of tire you get. Visit the best tire store in Austin, TX, and have a professional assist you in getting the perfect tire for your car. Regardless of where you are purchasing your tires, whether at your local store or online, it is best to get the necessary information. Remember that cheap items are not always the best deal. This article will provide you with tips on how to find the best store in Austin, TX.

Customer Service

While most car owners might not know, the process of purchasing tires does not end with installation. Just like other car-related things, understanding and service go a long way after the actual sale. Whether buying from an online retail store or locally, ensure that the after-sale services will be up to your expectations. These include services such as extended warranties and roadside assistance. Austin tire store will provide the best customer service in Texas, guaranteeing customer satisfaction.

Information Provided

It can be tempting to purchase the cheapest tire in the store and move on with life. However, it is essential to remember that tires include the only part of a vehicle designed to get into contact with the road surface. Thus, there is a crucial part, and they significantly influence your car’s safety and operation. It would be best to match your car tires with your location’s terrain and the car’s use.

Shipping Time

You are likely to keep an eye on your car’s tire condition and know when it’s time to acquire a new set, especially if you are a proactive car geek. If you want to purchase your tires online, it is best to research the maximum time it can take for them to be delivered to you. Waiting for the shipment days to deplete when you desperately need the tires for your car to operate is not the best idea. Your level of urgency should determine where you get the tires. On the other hand, find a store that takes a short period, if not immediately, to deliver the tires.


The best tire store should provide car tires at an affordable price. The quality of the tires should be good, and they should not exaggerate the prices for any reason. Due to the high levels of competition on the market, you will likely find some tire stores selling tires at low prices. However, the tires might be low quality or even counterfeit. Always conduct proper research on a particular store to find out the specifications of what they sell. Also, read customer reviews on their website to evaluate how good or bad their services are. Visit the Austin tire store and get quality tires at very affordable prices.

Consequently, you can ask your friends to refer you to the best tire stores near you. Remember that you should not compromise quality for a lower price. This is because the item might turn out extremely expensive in the long term.

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