Before purchasing, one must understand all about bike insurance to make an informed decision. The country’s road conditions have worsened, and everyday accidents are caused due to rash driving, making it mandatory for bike owners in India to buy insurance.
When your bike is involved in an accident, insurance safeguards you and your two-wheeler against unanticipated events like accidents, theft, and even death, including the damages caused to a third party.
Kinds of two wheeler insurance
Third-party bike insurance
If you are seeking Third-party two-wheeler insurance is mandatory in India according to the Motor Vehicle Act 1988. It covers your liability towards a third-party vehicle/owner or any property damage, injury, disability, or death of the owner/driver/ pillion rider. It doesn’t cover any damages to your own insured vehicle.
2. Comprehensive cover
Comprehensive insurance includes the insured as well as third-party liability. It protects the insured from any damages to the vehicle or themselves. It also safeguards the insured against any theft, fire, natural calamity, or damage in transit, plus any liability to the third-party owner or vehicle. It also provides add-on features for wider coverage.
Fortes to scrutinise before selecting the best plan for your two-wheeler
It is crucial to understand the claim process, whether online or offline. Online claim filing is a hassle-free medium- it’s just a tap away from your smartphone. That is why it is easy to claim online rather than going to the office and doing the whole process.
2. Cashless or reimbursement plans
A cashless plan is where the insured doesn’t have to pay anything; it is directly settled between the insurance company and the garage. In a reimbursement plan, the amount towards damages is paid by the insured and reimbursed afterwards by the company. More significantly, one should know the claim settlement history of the insurance company before finalising. This gives an insight if it is easy to deal with the insurance company in case of a claim.
3. Add on covers
These add-on features demand an extra premium and can provide additional coverage to you and your vehicle, which is otherwise not covered by your policy. These include no claim bonus, roadside assistance, zero depreciation cover, return to invoice, daily allowance benefit, engine protection, or EMI protection.
So go for the company that provides the add-on cover you require.
Why purchase two-wheeler insurance online
- Quick issuance saves time, money, and effort.
- Just compare it online and buy/renew your two-wheeler insurance
- No need for a physical inspection
- No more middlemen
- No extra charges
- No previous policy details required
- Quick claim settlement
- You get the policy delivered to your doorstep.
The process to buy or renew bike insurance online
Step 1: Visit the website.
Visit the company’s website if you have decided the insurer or a mediator website where you can compare and buy the best policy.
Step 2: Enter your bike details.
- Bike registration number
- Get quotes
- Select your bike manufacturer
- Bike model
- Vehicle variant (Deluxe, electric, or STD)
- Enter vehicle registration year
Step 3: Enter your policy details and if your current policy has expired.
Step 4: Select the type of plan and duration.
Third-party or a comprehensive plan and tenure.
Step 5: Select the insurer.
Premium quotes from various Bike insurance companies will be displayed.
Step 6: Add on covers.
Select all the add-on covers that you require for yourself and your vehicle.
Step 7: Select the company name.
Selecting the company that best fits your requirements with the add-on covers you need and provides a fair claim settlement ratio at the best possible quote.
Click on the determined company name.
Step 8: Add personal details.
Share details such as name, mobile number, email ID, communication address, and pin code.
Step 9: Add nominee details.
Nominee name and relation with them.
Step 10: Is your vehicle Financed
If your vehicle is on Loan,
Type Yes otherwise, No.
Step 11: Enter your two-wheeler details.
Previous policy company name
Insurance policy number
Policy expiry date
Mention if you have taken a claim in previous years
The discount you got on the No Claim Bonus
If you have transferred your vehicle, yes or no.
Step 12: Buy now.
Your premium is displayed according to the information filled; you can click on Buy Now.
Step 13: Choose the payment mode.
You can choose from various options available like debit, credit, net banking, UPI, Paytm, etc.
Step 14: The policy will be issued and mailed.
As soon as payment is made, you get the soft copy of your insurance, the same is emailed to you, and the hard copy is sent to you by courier.
Step 15: Customer support
If you get stuck anywhere, you can call for assistance at the given number.
To Sum Up
Several companies provide bike insurance.