You Need To Know This 5-step Process For Your Online Bike Insurance

by Kanika Shelatkar Insurance Consultant

Everything in this modern world is faster, better and much easier to achieve, thanks to digitization. And when it comes to being completely digital and easily accessible, bike insurance process is very well advanced. It is the law that every vehicle owner must have insurance for the same. However, it is your budget, the kind of coverage you seek, your needs in terms of en cashing, renewal and more, and your choice that decides which provider to approach for buy online bike insurance or renewal.

Following are some quick and easy steps which will get you the insurance policy for bike, or even any other vehicle, in little to no time!

Know your requirements

Every two-wheeler insurance has a little something different, based on the providers you are getting the quote from. It’s ideal to know what kind of benefits and coverage you are seeking, and then start hunting for the perfect insurance. There are options to pay a higher premium and increase the Insured Declared Value of a vehicle, but it is better to know if that is the right option for you. Make sure that the sum assured, type of additional riders and the type of insurance you want, is according to your needs, and suits your bike the best.

Compare policies

Be it a higher claim settlement ratio or conveniently located office, you should know what benefits you are looking for in your bike insurance. Comparing plans from different insurance providers will help you accurately determine the pros and cons of the quotation you have been presented. Right from the coverage that the insurer is offering to the riders, and from the premium paying facilities to the advantages you get on renewing the policy, you can compare all of this and more.

Gain insights

Usually, online two-wheeler insurance policies are prevalent in today’s world, but that can in no way refrain you from doing your due diligence. Once you are done comparing quotes and picking the provider you want to purchase insurance from, make it a point to visit their website, check their reviews online and get a good view into their products, services and most importantly, check their claim settlement policies and current claim settlement ratio. Better the ratio, more are the chances of you getting your claim settled.

Review the documents

It is an excellent practice to review records before making the final commitment by signing on the dotted lines! You can also check all the boxes that are ticked, which may include riders that you may or may not need. Give a thorough glance to all the documents and make sure that your 2-wheeler insurance policy and the terms and conditions are good to go.

Pay premium

After thoroughly checking the documents, getting insights on your coverage, clauses and doing recon on the provider, if all seems well then you can proceed to pay the premium. The beauty of online insurance or even bike insurance renewal is that you can also pay the premium online, in the comfort of your homes.