7 Reasons To Buy Your Next Two-Wheeler Insurance Policy Online
As per National Family Health Survey, one-third of Indian households own a two-wheeler. With so many bikes on the road, accidents are always possible. Because of this risk, all two-wheeler owners must have two-wheeler insurance.
The Insurance Regulatory and Development Authority of India (IRDAI) has made it mandatory for two-wheeler owners to have a third-party liability policy to provide financial protection. You can visit the official website of IRDAI for further details.
Purchasing bike insurance online can be easy. Before discussing the benefits of buying insurance online, let us first understand the factors to keep in mind while purchasing any bike insurance online:-
- Coverage: When purchasing two-wheeler insurance, you should compare the insurance coverage to the premium amount. Third-party liability insurance can be less expensive than comprehensive i However, the coverage and benefits of a comprehensive policy may be worth the extra money.
- Enter your two-wheeler information: You must enter your bike’s registration number to determine the premium amount for your two-wheeler.
- Compare Prices: One of the most significant benefits of buying bike insurance online can be the ability to compare quotes from various insurers easily. You can get all the information in one place by visiting an online insurance aggregator. Every new biker should do a bike insurance check online to understand the policy coverage clearly.
- Search for add-on covers: Add-on covers provide an additional layer of financial protection for your two-wheeler. Add-on coverages may only be available with comprehensive policies.
- Decide on a policy term: The next step is to choose a policy term. You can choose between one-year and multi-year i If you select a multi-year policy, you can save on premium payments. One can insure a two-wheeler for a maximum of three years.
* Standard T&C Apply
Now let’s look at the seven reasons to buy your bike insurance online.
- Paperless transaction: No paperwork may be required because the entire process is done online. You can upload a picture of the required documents when filling out your information. After the payment is made, you receive a copy of your policy via email. *
- No documents lost: Purchasing an insurance policy online ensures no paperwork is lost. In addition, you can save time in an emergency by producing your policy copy with a single click. *
- No inspection: A physical inspection of your vehicle may be scheduled when you purchase insurance offline. The IRDA has mandated this procedure. However, you can bypass this step if you buy a two-wheeler insurance policy online. *
- Support is available 24*7: It is critical to have consistent support for claim assistance available around the clock. You can take advantage of the insurers’ 24*7 customer service when purchasing online. There is also a toll-free number where you can contact your insurer for immediate assistance. *
- Quick claim settlement: It is critical to have sufficient funds in an emergency. The time the insurer takes to respond online can be reduced with a completely digital process. Because your policy is available online, the possibility of a delay due to missing paperwork may be reduced. *
- Renewal without the hassle: You typically need to renew your two-wheeler insurance at the end of each year. When you buy online, you could be reminded of the expiry date several weeks before it occurs. This ensures that your bike is always insured. *
- Transfer of No–Claim Bonus (NCB): If you decide to change insurers at the time of renewal, you can instantly transfer your accumulated NCB. *
* Standard T&C Apply
All in all, purchasing a two-wheeler policy online may look confusing for first-time buyers. However, the convenience of digital platforms and instant payment make it an easy experience.
‘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. ‘