Should You Renew Your Bike Insurance Plan Online or Offline?
The world is changing at a breakneck pace and operating on various devices, including your smartphone, has become easier and more cost-effective. Online services have allowed people to work at incredible speeds by removing time constraints. One of these services is purchasing two-wheeler insurance online. In a matter of minutes, you can compare, choose, and pay for your two-wheeler insurance online.
Renewal of bike insurance online allows you to compare various premium quotes from different insurers and view the coverage offered and the list of network workshops. Every insurance company nowadays has a solid security system to ensure your transaction is safe with them. Buying insurance offline is not trustworthy anymore and may include additional costs. On the contrary, online two-wheeler insurance renewal can give you a discount of up to 50%.
Another feature of online renewal of two-wheeler insurance is that it doesn’t involve any paperwork. This means that you don't have to compile files and folders of the documentation of your bike, ID, address, etc. You can download these documents and renew your two-wheeler insurance online from the comfort of your own home. Despite all these benefits, some do go offline when renewing bike insurance. That makes online vs offline renewal bike insurance a debate among people. Let's compare these options for more clarity.
Online vs Offline Renewal of Bike Insurance
Here is a quick comparison between renewing a two-wheeler policy online and offline:
| Sr No. | Feature | Two-wheeler Insurance: Online | Two-wheeler Insurance: Offline |
| 1 | Comparison | A quick comparison of multiple options | Manual comparisons of fewer options |
| 2 | Premium | Lower due to no brokerage or commission involved. | More due to agent brokerage or commission. |
| 3 | Application | Only an online application is required, and there is no separate paperwork. | You may have to fill out the manual proposal form and compile a separate set of documents (hard copies) to submit to the agent. |
| 4 | Policy document | If there is no inspection to be conducted, you will instantly receive your policy document by email or message. | In case of inspection, the process of acquiring your policy document may take 5 to 7 working days or even more. |
| 5 | Renewal | You can go for an instant two-wheeler insurance renewal. | You may have to wait for 5-6 days. |
| 6 | Raising a claim | You can process claims immediately through the mobile app or the website of the insurer. | You will have to fill out a claim form and prepare the documentation for manual claims. |
| 7 | Premium Calculator | The premium charged will likely tally with the results provided by the premium calculator. | There will be differences between the premium shown in the calculator and the one you will pay |
Read more - Is Online Bike Renewal Really Safe?
Advantages of Renewing Your Bike Insurance Online
The traditional route would require the insured to invest more time and money. He must spend enough time selecting and reviewing the insurance coverage, manually filling out the forms, getting the insurance company's approval, and finally, the printed copy of the policy is mailed. It's a long process.
However, technology has several advantages, including allowing for the online renewal of two-wheeler insurance. Here are some benefits you can enjoy by renewing your two-wheeler insurance policy.
- Quick comparisons - You can conveniently compare two-wheeler insurance policies, their premiums, claims process, coverage, etc., of different insurance companies and select the best one.
- Renewal from a different insurer – If, for any reason, you are not satisfied with your existing insurance coverage, you can renew it from another insurance company.
- Purchase add-ons – No harm in choosing some valuable add-ons provided by your insurer, and with the click of a button, you can add them to your bike insurance.
- No paperwork: With online bike insurance, you don't have to do any paperwork. All relevant information is online and can be verified by the insurance company using the appropriate portals.
- Online help – You get access to a 24/7 online support team who will answer your questions and also assist you with quick claims assistance.
Conclusion
Remember that the world is going digital, and buying and renewing your bike insurance online gives you quick access and saves you the hassle of carrying physical policy documents. In terms of online or offline bike insurance, it is better to buy and renew two-wheeler insurance online than to opt for the traditional method. You also get to pay low premiums and save on time, cost, and effort when you renew your two-wheeler insurance online.
Read more - Is it Safe to Purchase or Renew Your Two-wheeler Insurance Online?
Add ons for your Two Wheeler Insurance
Purchasing two-wheeler insurance plans give you the leverage of comparing various insurers and their plans. You also get a good deal on the purchase and renewal, as the insurer brokerage or commission does not have to be paid.
It is highly recommended to check the IRDAI registration number from the insurance company's online portal and verify it on the IRDAI website. In addition, you can contact the insurance company and have your doubts clarified if there are any.
Yes, absolutely! It's a great idea to purchase or renew bike insurance online from a verifiable insurer through a website or mobile app and make payments online.
Purchasing or renewing two-wheeler insurance online is much less time-consuming and saves you additional effort, inconvenience, hassle, and money.
You can check the renewal status of your two-wheeler insurance online by visiting the insurance company's website and looking for suitable coverage. The same will be physically posted to your address and emailed to you.