Articles
Why is it better to buy two-wheeler insurance online?
by Kanika Shelatkar Insurance ConsultantTwo-wheelers are the first choice for most
of the middle-income groups. These vehicles get used widely in cities where
public transportation systems are infrequent. All the bike owners must comply
with the Motor Vehicles Act of 1988 and buy two-wheeler insurance. You can buy a
comprehensive plan, which is optional, but a third-party one is mandatory. It
is better to buy them online and following are the reasons why –
Compare different insurers
Before buying two wheeler
insurance online, it is imperative to compare different providers. Every
company has its positives and negatives, and you can view these details online.
Check the consumer reviews, claim settlement ratios, and find if the reputation
of the insurance companies and level of services they offer by doing thorough
research. Buying the policy online enables you to do detailed analysis and get
a better deal instead of blindly opting for an insurer and plan suggested by
the dealer or an agent.
A policy that fits your budget
By opting for an online two wheeler
insurance policy, you give yourself the chance to select a plan that suits
your budget. You can make a well-researched decision whether a comprehensive or
third-party plan fits the bill. Most of the insurers provide the same kind of
policies, but the add-ons differ, and the associated costs with them vary as
well. Compare the plans and find the one that fits your budget.
Do not rely on agents
Apart from bike dealers and insurance
companies, agents are selling the bike policy as well. Agents selling them
typically charge a commission for their services. This adds to the overall cost
of the plan. Moreover, agents could get biased and suggest expensive plans for
gaining a higher commission. Your agent might not understand your requirements
completely and could recommend a policy that will cost a lot but offers minimum
coverage. It is, therefore, better to buy the insurance plan online instead of
paying the commission to an agent who may not cater to your needs.
Hassle-free process
The procedure for buying two-wheeler
insurance online is hassle-free. Once done with the research, you need to visit
the concerned insurer website, fill necessary personal details and vehicle
details, select the type of insurance, add-on riders, and make the premium
payment. Once selected these details, you can pay for the policy using your
credit or debit card or net banking.
Easy renewal
Besides buying the policy, you can renew
them two-wheeler insurance online as well. If you choose to continue the policy
with the same insurance company, the system saves your information, and the
renewal gets done in seconds. You could also use the NCB benefits. Nowadays,
with the help of two-wheeler insurance app such as LGI LivMobile App, you can
renew or buy the policy on the go.
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About Kanika Shelatkar 
Insurance Consultant
11 connections, 0 recommendations, 73 honor points.Joined APSense since, March 18th, 2019, From mumbai, India.
Created on Sep 22nd 2020 10:57. Viewed 355 times.
