How to Buy Two wheeler Insurance Online!
For the everyday commute, nothing compares to the ease and
comfort of riding a bike. Taking care of one's two-wheeler includes obtaining
insurance to guarantee the general safety of our bikes. Nowadays, thanks to
technological advancements, we can purchase nearly anything online. The same is
true for financial tools like insurance. To safeguard yourself and your
family’s assets, it is simple to purchase two wheeler insurance
online.
Even though getting insurance can initially be expensive, it
can save you a significant amount if an accident results in your physical
injury or your two-wheeler being damaged. Additionally, bike insurance bought in
lieu of bike insurance premium shields you from all associated obligations and
provides financial help in the case of theft or any harm to a third party
because of an accident.
H2: Steps to Buy Two-wheeler
Insurance Online
1. Know about your
insurance needs: One
can find primarily two types of two-wheeler insurance online. These include comprehensive bike insurance
and third-party bike insurance. Two-wheeler insurance for third parties only
offers financial security against third-party losses following an accident. A
comprehensive two-wheeler insurance coverage will provide financial protection
for both your losses and third-party liabilities. You must comprehend both
forms of bike insurance premiums before purchasing them.
2. Evaluate your options: Check out the official websites of
the insurance company you are interested in and browse the section for
two-wheeler insurance once you've decided on the insurance you want to get. The
majority of well-known insurers have user-friendly websites that make it simple
to apply for two-wheeler insurance online.
3. Complete the required procedure: When you reach the homepage for bike
insurance on the insurance company's website, go to the buy insurance option to
purchase a new bike insurance policy or choose to renew. Once you've made your
decision, you'll need to submit your name, your bike's registration number,
your contact info, and any other details the insurance company requires.
4. Select the insurance coverage: After providing the necessary
information about yourself and the vehicle, you must decide which type of
insurance coverage you want to purchase. Remember that you can purchase a
variety of add-on coverages to your comprehensive two-wheeler insurance policy,
including, among others, the zero-depreciation cover, the consumables add-on,
etc.
5. Complete the transaction: Once you've decided on a two-wheeler
insurance plan, upload the proper documents, including your driving license and
Aadhaar card. To finish the transaction, you will then need to pay the bike
insurance premium.
H2: Benefits of Purchasing Two-wheeler
Insurance Online
•Easy user interface and access:Occasionally,
while renewing a policy offline or filing a claim, we may not immediately get
all of the required documents and must make one or more trips to complete the
process. This is not the issue with two-wheeler insurance online, though.
Online insurance companies make it simple to access your documentation by
mailing them to you as soon as the process is complete.
•Cost comparison: Comparing rates and features offered by several insurance
companies online will help you choose the one that best suits your needs.
•Calculation of premium: Calculating the bike insurance
premium is made simple by purchasing two-wheeler insurance online, which is one
of its many benefits. It can assist you in determining the premium and provide
a precise estimate of the associated costs.
• Quick and easy payment option: The ability to pay for insurance
online using any method that suits you best is one of its main benefits.
•Virtual assistance: If you have any questions or
concerns throughout the procedure, all insurance companies have a customer
support system that will give you all the assistance you require.
•Simple renewal process: It is common for people to make
mistakes and forget things. With so many things continually in our thoughts, it
can be challenging to remember when things need to be renewed and, more
crucially, when they need to be renewed to avoid penalties. Online insurance
purchasing makes this process simpler for you.
•No additional fees: By preventing you from paying more
than the intended amount during the procedure, an online transaction will help
you save money.
H2: Five Things to Keep in Mind
Before Buying Insurance Online
1. IDV - Insured's Declared Value is referred to as IDV. IDV for a
two-wheeler is based on the vehicle's ex-showroom price and is determined by
the make, model, sub-model, and date of registration of the two-wheeler.
2. NCB - For each year of your policy without filing a claim, the
insurance company will provide you a discount known as an NCB (No Claim Bonus).
This discount is only available for the OD (Own Damage) premium.
3. Third-party insurance - The Motor Vehicles Act requires
third-party bike insurance, which is a mandatory insurance policy for your
bike. It covers loss, damage, and other liabilities originating from your
two-wheeler that affect a third party's vehicle or property.
4. Deductible - This is the sum that you must pay for every and every claim.
This deductible is required. No matter the vehicle's CC (Cubic Capacity). When
purchasing or renewing a policy, you have the option of selecting a voluntary
deductible, which is the sum you decide to pay out of pocket for each claim you
file. This will lead to an extra discount on the premium.
5. Added covers: Insurance providers offer additional
insurance coverage that can improve your two-wheeler’s insurance coverage.
Two-wheeler insurance will cover any harm your two-wheeler
may cause to you, your vehicle as well as a third party's person or property.
Depending on your needs, you may select from a variety of bike insurance
options and, according to the chosen bike insurance plan, can pay your bike insurance premium online.
Disclaimer - The above information is for illustrative purposes only. For more details, please refer to the policy wordings and prospectus before concluding the sales.
