Buying bike two wheeler insurance has never been this easy. Policyholders can now buy an insurance policy for their two wheelers from the comfort of their home or office. However, if they are looking for competitive premiums for their insurance policies, they need to consider several other factors as well.
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Every vehicle plying on the road is required to have a valid third-party insurance cover under the Motor Vehicles Act 2019. This cover pays for injuries to a third person, loss of life and damage to goods caused during the accident.
A bike insurance will help you provide financial protection to the car and cover damages caused to the rider, passengers or passers by during an accident. It also pays for damages caused by accidents, debris, burglary, man-made/natural calamities, fire, and third party liability.
How to Choose Two Wheeler Insurance Policy?
Buying a two wheeler insurance policy requires thorough research. To select the most suitable two wheeler insurance policy, you should evaluate your needs and compare several two wheeler insurance plans online. Here are some tips that can help you choose a two wheeler insurance policy according to your needs and budget:
- Know your coverage requirements – Assess your needs and budget so that you can choose between different types of two wheeler insurance plans that best suit you. While assessing your needs, you should consider various factors such as your two wheeler usage, your expenses, liabilities etc.
- Choose Add-ons Wisely – Add-on covers help you enhance the coverage of your two wheeler insurance policy. You can opt for an add-on cover for your two wheeler insurance policy in lieu of an additional premium. Common add-on covers in two wheeler insurance are zero depreciation cover, personal accident cover for rear occupants and towing cover.
- Choose a Reliable Insurance Company – It is extremely important to check the claim settlement ratio while choosing a reliable two wheeler insurance company online. This ensures that claim settlement is hassle free.
- Compare Two Wheeler Insurance Plans Online – It is important to compare different two wheeler insurance policies online to make the best buying decision. You can compare different plans on the basis of inclusions, exclusions, premiums etc.
- Read Online Reviews – Reading online reviews from verified customers who have bought two wheeler insurance policies will help you decide whether you are going for the right two wheeler insurance policy or not. Therefore, it is recommended to read the positive and negative comments online so that you can decide which is best for you.
Bike Insurance Policy Online Benefits
The bike insurance plans available in India are very wide. They offer different types of covers. One of the biggest benefits that you will get here is that you can get these plans online. Online two wheeler insurance is very common and most of the people buy their bike insurance policy online. Why is it so popular and why should you consider getting motorcycle insurance quotes online as well? let’s find out.
Two wheeler insurance is not a one-time job, it requires timely renewal. If you are not able to renew your policy on time, your two wheeler insurance policy will lapse and become invalid. You will not be able to claim any coverage benefit under a lapsed two wheeler insurance policy until you renew it.
Key Highlights of Two Wheeler Insurance Policy
Following are the highlights of bike insurance plans:
|Own Damage Cover||Provides financial protection in case of damage to own bike|
|Third-Party Cover||Provides cover for any damages in case of third party death, disability, or destruction of property due to an accident|
|Personal Accident Cover||Amount paid in case of death or disability due to accident|
|Add-ons||For enhanced coverage, additional benefits can be purchased by paying an additional premium. Some of the add-ons include NCB protection cover, return to invoice, engine cover etc.|
|No Claim Bonus (NCB)||With this benefit, you can avail a discount on the next year’s premium if you do not claim it. With each claim-free year, you will be able to enjoy NCB of 20%-50% for 5 consecutive years|
Why Should You Buy A Comprehensive Bike Insurance Policy?
Following are the reasons why you should buy a comprehensive two-wheeler insurance policy:
- Cover for Third-Party Liability – A comprehensive bike insurance policy covers you against third-party liabilities.
- Own Damage Cover – A comprehensive two wheeler insurance policy covers you against the expenses incurred due to loss or damage to your bike.
- Cashless Repair – You can avail cashless repair at any network garage across India with a comprehensive bike insurance policy.
- Add-on Cover – Comprehensive two wheeler insurance policy comes with various add-on benefits like return on invoice cover, consumables cover, zero depreciation cover, engine and gear protection cover, breakdown assistance cover and zero depreciation cover. You can buy these add-ons by paying an additional premium at the time of purchasing the policy. These add-ons are not required to be purchased but are preferred to increase coverage.
- No Claim Bonus – A bike insurance policy offers you a no-claim bonus for every year between 20%-50% of the unclaimed for 5 consecutive years.
How to buy a bike insurance policy online
If you want to buy 2 wheeler insurance online, you must first compare motorcycle insurance quotes online and then decide which policy is better for your needs. Here is the complete process:
assess your needs
Before buying a bike insurance policy online, make sure you assess your needs yourself. If you have an older bike that you want to replace soon, you may want to purchase a third-party liability plan. If you have a new and expensive bike, a comprehensive plan would be better suited. This is why you need to understand your requirements before buying two wheeler insurance online.
make a budget
Similarly, you need to make a budget before buying a plan. Bike plans are available in different price ranges and you have to see which plan matches your financial capabilities. Doing so will help you narrow down your search to find the best insurance plan quick and easy.
Once you know your needs and your budget, you can start shopping for your two wheeler insurance policy online. You can log on to the portal of any reliable insurance aggregator. If you are sure about a particular insurance provider from which you want to buy a bike plan, you can also directly visit their website.
enter your requirements
Next, you need to enter your details. These are simple details like your name, age and place of residence. Apart from this, you need to enter some basic details about your bike such as its make and model number. If you have an existing bike insurance plan, you need to mention that as well.
After entering all the details, the result will be shown to you. Scan through the plans and shortlist the schemes that you find most useful.
Next, and one of the most important things to do is compare. You need to compare bike insurance online before buying a plan. Never make the mistake of buying the first plan you see. Compare prices of all plans. Also compare features. Then, compare the ratings and reviews of the insurance provider. You need to select a good insurance provider to buy the plan as doing so will help you get the best plan from the best insurer.
And finally, you have to shop. The online platforms are secure and you can pay for the bike insurance plan you choose online. The policy will be issued then and there and you can enjoy an excellent bike insurance cover from that point onwards.
It is extremely easy to find the best option for you and then buy the ideal bike insurance policy online. Follow the steps mentioned above and your work will be done quickly and easily.
Benefits of buying bike two wheeler insurance online
As mentioned above, you get many benefits when you get two wheeler insurance online. Here are some of those benefits:
- a lot to choose from
There are different types of online two wheeler insurance plans to choose from. You can opt for Third Party Liability Cover or Comprehensive Over. When buying online, you get to choose from a variety of plans that are available in both these categories. This makes it very easy for you to find the right cover without running from place to place.
- Compare option
Another great advantage of getting two wheeler insurance online is that you can compare quotes. When you compare motorcycle insurance quotes online, you get the best plan at the best rate. You should never buy an insurance plan without doing a comparison because then you will not be aware of the better options. So compare, find the best plan and then make a smart purchase.
Bike insurance online is quite cheap. You can get some of the best motorcycle insurance covers at very low rates. This is helpful because you don’t end up paying extra money. Online plans are cheaper as they are sold directly by the insurance provider, without any agent involvement, so you do not pay a brokerage amount. By doing this, you also get to conduct a fair election, which proves to be very helpful in the long run.
- Option to add rider
The next advantage of buying two wheeler insurance online is that you get a chance to add riders to the base policy. Riders are add-on covers that help you customize your plan. You can add popular bike insurance riders like Personal Accident Rider, Engine Protection Rider, Zero Depreciation Rider etc. to your bike plan. Choose the best and most efficient rider and tailor the bike plan better suited to your needs.
- simple document
Since the plan is available online, you need not worry about going to the insurance provider’s office with hefty files of documents. The paperwork is very easy when you buy your motor insurance plan online. You just have to enter some details in the application form and don’t have to worry about submitting any physical documents. This is indeed a huge and very convenient advantage of buying two wheeler insurance online.
- digital access
When you buy your two wheeler insurance online, you can access the plan anytime from your phone or laptop. Apart from purchasing, you can also renew the plan online. You can choose to add or drop riders online and you can also claim online. When you have an online bike plan you don’t have to worry about traveling to your insurer’s office, standing in long queues etc as everything can be done with the click of a few buttons.
- easy to upgrade
Buying bike insurance online is not only easy, but renewing it is also very easy. When renewing, all you have to do is compare motorcycle insurance quotes and see which insurer is offering the best deal. If you are happy with your existing insurance provider, you can continue with the plan you have. Otherwise, during the upgrade, you can change the plan. All this can be done online in a fast and hassle free manner.
- discount available
There are many discounts available on motor insurance online. You get no claim bonus. Also, if you become a member of an automobile association, you can expect to get a discount on the premium. Discounts are also available for bike owners who install safety gadgets in their vehicles. These discounts make online two wheeler insurance policies very attractive and beneficial.
- quick and convenient
It hardly takes you a few minutes to compare and buy two-wheeler insurance online. This is another great advantage of buying your motorcycle insurance cover online. You can buy the plan at any time of the day or night from the comfort of your home and it proves to be extremely convenient for you.
- comprehensive list of covers
And last but not least, you get a huge list of covers under comprehensive online bike plans. These include third party liability cover, personal accident cover, own damage cover, etc. You can also get riders and expand the coverage in online two wheeler insurance policies.
Keeping these things in mind, it can easily be said that taking a bike insurance policy online proves to be a very good step.
How to Calculate Bike Insurance Premium?
It is very easy to calculate bike insurance premium online with Premium Calculator. It is a free tool that not only allows you to calculate the premium for a bike insurance policy, but also compares the benefits. Though premium is not the only factor on which you need to choose a bike insurance policy, calculating it in advance can help you manage money for the future.
To calculate bike insurance premium online, you need to navigate to bike insurance premium calculator page, provide important details like manufacturer, sum insured, make, model, variant, date of registration, product type, add-on cover etc. and have to click. ‘See citation’. Quotes will be generated immediately.
Following are the benefits of using bike insurance premium calculator:
- Helps you make the right buying decision
- Allows you to customize your bike insurance policy and view premium changes
- Makes it easy to compare different bike insurance plans online