A two-wheeler insurance policy covers the insured against a variety of damages that may occur to the vehicle or its rider in a range of unforeseen events like an accident, theft, and other natural and manmade events. It also protects the policyholder against any liabilities arising out of damages or losses caused to a third party.
Though buying a motorcycle insurance is mandatory as per the Motor Vehicles Act of 1988, it should not be only seen as a statutory requirement. An insurance policy can have several benefits for the insured. In case of damage to the vehicle due to an accident or any other event as stated in the policy, the expenses on repair can be really high. All those expenses will need to be borne by the owner of the vehicle in case they do not have an active insurance policy. Also, an insurance policy can be of great help as it may offer personal accident cover that can be utilised in difficult times.
Buying a two-wheeler insurance policy online can be easier than you think. Before buying a policy from a particular insurer, do compare the available policies online with respect to the coverage offered, the benefits of the policy and the premium cost. Also, do not blindly go by the premium and give enough attention to the inclusions and exclusions of the policy.
While there is no standard procedure to buy an insurance policy on the Internet, below explained is the general process to buy a motorcycle insurance policy online:
Step 1: Visit the website of the insurance provider > Look for 'Two-wheeler Insurance' in the website menu > Click 'Buy Two-Wheeler Insurance Policy Online' and you will be redirected to the relevant page.
Step 2: Fill in the basic details such as make and model of the vehicle, registration number of the two-wheeler, city of vehicle registration, age of the vehicle, cubic capacity of the vehicle, and more. Certain insurers also allow you to choose the add-on covers that you require with your insurance policy. After submitting the details, you can calculate the premium for your two-wheeler insurance policy.
Step 3: If you are comfortable with the amount of premium displayed on your screen, you may go ahead and fill up your personal details, policy details, contact details, vehicle details and more. These details include:
Step 4: Read the policy related terms and conditions and click 'I Agree'/'I Accept' checkbox. You may then submit your application and proceed further to the payment section.
Step 5: To make the payment, select your preferred payment mode and follow the steps as directed on the website.
You can easily get your two-wheeler insurance by following the above-mentioned steps. The process would not take much time and you will get your policy document immediately.
Just like you buy an insurance policy online, you can also renew your motor insurance policy online and save significant time. The online insurance renewal process hardly involves major paperwork and you may also skip vehicle inspection if your insurer allows you. To get rid of the hassles of annual policy renewal, you may opt for the long-term insurance policy for a period of up to three years. You can compare the various alternatives available through different neutral online insurance portals and choose the one that best suits your requirement.
With the ongoing Internet boom, buying a bike insurance policy is not as complicated as it used to be. Now people can easily buy a two-wheeler insurance online without wasting their precious time as in the case of offline purchase or renewal of the policy. Here are the two important types of bike insurance policies you must know about.
To enhance the scope of your two-wheeler insurance policy, you may also opt for certain additional insurance covers. These add-on covers can be added to your insurance policy with the payment of a certain amount of additional premium. Some of the add-on covers are mentioned below:
Buying an insurance policy through offline channels can get very complex as it involves a tedious process and consumes a significant amount of time. On the other hand, buying a two-wheeler insurance online can have several benefits. Some of which are explained below:
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