Bikes are the vehicle of choice for most middle income groups. These vehicles are used widely in cities where public transportation systems are less than adequate. All bike owners must comply with the Motor Vehicles Act of 1988 and get a third party insurance policy. You can also buy a comprehensive bike insurance policy, which is optional. It’s better to buy online bike insurance and here are 5 reasons why.
- You can easily compare the different insurance providers
Before you buy your bike insurance policy, it is very important that you compare the different providers. Each insurance company has its own pluses and minuses and you can get these details online. You can check customer reviews, claim settlement ratios and find out the reputation of the insurance companies and the level of service they provide, by doing some basic research on the Internet. Buying insurance online allows you to do detailed research and get a better deal instead of just choosing an insurance provider and plan suggested by your bike dealer or insurance agent.
- You can select a policy that fits your budget
By opting to buy online 2-wheeler insurance, you are giving yourself the chance to select an insurance policy that suits your budget. You can make an unbiased, well-researched decision whether you need a comprehensive or a basic, third party policy. Most insurance providers offer more or less the same type of policies, but the add-ons may differ and costs associated with them may be different too. You can compare policies and find one that fits your budget and provide optimum coverage.
- You don’t have to rely on agent recommendations or pay any commission
Agents selling two-wheeler insurance policies generally charge a commission for their services. This can add to the actual cost of the policy. Moreover, agents can also be biased and may suggest expensive policies that can help them get higher commissions. Your agent may not understand your requirements fully well and may recommend a policy that may cost a lot but provide minimum coverage. It’s therefore better to buy your insurance policy online instead of paying a commission to an agent who may not be equipped to cater to your needs.
- The process of buying the policy is simple
The process of buying online bike insurance is indeed simple. After comparing the various insurance providers, you just need to visit their website to buy the policy. Fill in your basic personal details – name and contact number, and then enter your vehicle number, make, model and year of manufacture. You can then select the type of insurance policy you want and the add-on covers that can provide additional coverage. Once you’ve selected these details, you can easily pay for the policy using your credit or debit card or through net banking.
- Come renewal time, you can renew the policy on your own
Apart from purchasing the policy, you can also renew the two wheeler insurance policy online. If you choose to renew your policy with the same insurance company, the system saves your information and the renewal can be completed in seconds. You also accrue no-claims bonus benefits and modify your policy online upon renewal.
In conclusion, buying and renewing online 2-wheeler insurance is the more convenient choice. You do not have to visit the offices of your insurance company or meet your insurance agent for the same. As is apparent, the online purchase method is simple and the policy can be purchased in a matter of minutes.