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Benefits of Buying Bike Insurance Online

By Finserv MARKETS - Jan 31,2019
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Gone are the days when you had to visit agents, dealers or insurance offices to buy a bike insurance policy. Since the introduction of online insurance policies, buying a policy is just a matter of a few minutes. All major motor insurance providers now offer bike insurance plans online. Buying an insurance online is not only convenient but also entails several other benefits. If you are planning to buy a policy soon, here are the top reasons to buy a policy online:

  • Help You Make an Informed Decision
  • Saves Times
  • Lowers Cost
  • 24×7 Assistance
  • Less Paperwork
  • Easy Renewal

Helps You Make an Informed Decision

Whether you are looking for information about insurance products or specifications such as risk coverage, terms & conditions, exclusions etc., you can easily find such details online. All you need to do is visit the insurance provider’s website and peruse the policy details carefully. The easy availability of information online helps you make an informed purchase decision. Choosing the right policy is essential so as to get the right coverage at the right price.

Saves Time

You can apply for a bike insurance policy online in just a few minutes. Moreover, online insurance providers offer secure payment gateways that don’t require time-consuming paperwork and documentation. The processing is done instantaneously, and your bike can get covered quickly.

Lowers Cost

Lower cost is one of the most important online bike insurance benefits. Since online purchase does not involve agents and other middlemen, the cost of buying two-wheeler insurance online is lower. Additionally, the cost of processing is also lower for an Online Insurance Policy and most insurance providers choose to pass on this saving to their customers. Consequently, customers who buy insurance policies online enjoy lower premiums. Some insurance providers also incentivize online purchase by offering customers money-saving offers and discounts. This further lowers the cost of online insurance.

24×7 Assistance

When you apply for a policy online, most insurance providers offer 24×7 bike roadside assistance from a dedicated customer support team. If you have any doubts regarding the policy or the application process, you and get it answered directly from the specialists.

Less Paperwork

If you buy a bike insurance policy online, the paperwork and processing time reduces drastically. You can buy the policy online in just a few clicks and make the payment securely. Since online transactions are conducted directly with the company, the documentation required is minimal.

Easy Renewal

At times, many people end up forgetting to renew their insurance policies on time. When you opt for an insurance online, the insurer will send you email reminders so that you don’t miss renewing your insurance. Also, online insurance providers offer convenient online renewal and payments, which can be carried out within a matter of minutes. Therefore, when you have an online bike insurance policy you don’t have to worry about the policy lapsing. Read how to renew bike insurance online in just a few simple steps.

In case you miss your two wheeler insurance renewal before the expiry date, then it is regarded as a break-in case. If you choose to renew your expired two-wheeler insurance online (within the grace period), then the inspection of your vehicle is not mandatory. However, your policy period will start after 3 days of receiving the payment by insurance company.

Head over to our website to get more tips on how to buy bike insurance online and get a free quote today!

Read our top blogs to know more about two wheeler insurance in India:

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522