Tips to get Bike Insurance without Inspection :
As per market research, most two-wheeler drivers never bother to buy an insurance even though two-wheeler insurance is mandatory, and an accident without insurance cover could set their bank balance off by lakhs of rupees. One of the reasons is that when you go for a two-wheeler insurance in the traditional offline method, as part of the procedure, a physical inspection of your vehicle needs to be conducted. Insurance companies are mandated by the Insurance Regulatory and Development Authority (IRDA) to conduct this inspection while reinstating lapsed policies and selling new policies. But if you do not have the time to subject your vehicle for inspection, there is a way to skirt the process altogether. That is to buy a two-wheeler insurance policy online.
- Online purchase of policy: Most insurance companies now offer insurance policies online. These include Bajaj Allianz, HDFC Ergo, ICICI Lombard, Reliance General Insurance and National Insurance Company. To apply for a two-wheeler insurance policy online, you do not need to take your vehicle for an inspection. It is also a simpler and convenient process as you only need to create an application and submit with your personal details, driving licence details and information about your vehicle. There is also minimal paperwork and requires no agent or middleman whose commission you would have to bear. One of the biggest advantages of online policies is that you can pay the premiums and renew the policy on-the-go. All you need is a good internet connection and you can finish the payment even from your bed.
- Research for the best rates: Before buying an online insurance policy, ensure that you do a lot of research to get the best deals. The aim should be not only to find a policy with low premium amount, but also to find a policy that offers the maximum protection at a low price. Sites such as BankBazaar are ideal spots to find out details about various insurance plans and compare the benefits of policies from various insurance companies.
- Read terms and conditions: Before you commit to a policy, read the terms and conditions to see when the policy cover begins. Many companies allow a claim to be made on online policies only after 3 days of buying the policy.