Two-wheelers are cool and stylish. Moreover, they are economical as compared to cars. When you buy a brand-new bike, the next thing you need to do is buy an insurance cover. Buying can be a tedious process, but you can do it online without any hassle. Read further to how you can buy two-wheeler insurance online.
Have you purchased a bike recently? Then, you must know the fact that vehicle insurance is a mandate in India, according to the Motor Vehicles Act. Before plying it on the road, you should have an insurance cover. It is vital because bikes are more vulnerable to road accidents.
You never know when someone would bump into your vehicle. You may suffer minor injuries, but your bike gets damaged severely due to the mishap. In such a situation, would you depend on your savings for repair and replacement cost that would go into lakhs? This will preferably be a wrong move.
Bike insurance is, therefore, of utmost importance. Before you buy thetwo wheeler insurance online, you should know that there are two types of two-wheeler policies:
- Third-party Insurance: This type of policy is mandatory in India, whether you own a new or a second-hand vehicle. Third-party insurance offers cover against legal liability that may arise if a third-party person dies or suffers bodily injuries due to an accident. It also covers damage caused to third-party’s property.
- Comprehensive insurance: This type of policy extends insurance cover to the policyholder, its property, as well as third-party liabilities. Since it is a comprehensive cover, the insurer will compensate for the damages caused by man-made or natural calamities. Under this policy, you can choose add-ons or riders to enhance the insurance cover.
If you’re planning to buy insurance online, below are some of the reasons for buying two-wheeler insurance online:
- More options, less confusion: The digital world is full of information. Search for the best bike insurance companies, compare quotes, benefits and budget to arrive at a buying decision. Online buying gives you the power to choose a policy depending on your needs. Considering your budget requirements, you can select a particular insurance quote.
- Easy paperwork: You can trust online buying as it saves you from the tedious process of signing and submitting documents. It gives you the flexibility to upload documents and process the verification digitally.
- Low premiums: One of the benefits of buying two-wheeler insurance onlineis that it helps you eliminate travel costs, brokerage commission, and other overhead costs. This helps to lower your premium rate and saves your time.
- Quick & trustworthy: When you search for two-wheeler insurance online, you will find many top-rated companies and aggregators offering policies at the competitive prices. To find a reliable and trustworthy company, you must check the following key points:
- The company or aggregator should be registered with the Insurance and Regulatory Authority of India (IRDAI)
- Check online reviews,
- Policy benefits,
- Policy verification links,
- Claim settlement ratio
- Check for add-on covers,
- Compare premium rates
Buying two-wheeler insurance onlineis easy and quick as compared to the offline process. If you’re planning to buy one, do it online to save money and time.
