Two Wheeler Insurance

Online v/s Offline Bike Insurance

Nov 15, 2021

A common confusion among those buying new bike insurance or renewing their expired one is whether they should do it online or offline. Some people prefer the traditional way of meeting an agent while others do it online. Just like ordering food and clothes, buying bike insurance online is quickly becoming the most convenient choice. 

So, let’s compare the benefits of online and offline insurance and find out:

Offline Process and its Benefits:  

Until a few years ago, the only way to buy products was offline. People physically saw, touched, or experienced them before buying. Direct communication was important to build trust in a brand. Most of the benefits of buying offline are associated with these traditional habits.

Benefits of the offline process include - 

   1.  Communication with an Agent: 

The greatest advantage of buying bike insurance offline is that you get to have one-on-one interaction with the insurance agent. Since insurance is an important purchase, it is important to understand the coverage as well as the exclusions from an expert. These agents also use the local language to explain the complicated jargon, which makes it easier to make the buying decision.

   2. Easy Documentation Process: 

The documentation process for bike insurance used to be very complicated. Failing to produce one document or even a small error in the application form delayed the entire process. To avoid this, most people relied on agents to collect and submit the necessary documents.

Online Process and its Benefits:  

Although people continue to buy insurance offline, their number is decreasing. As compared to offline, buying a policy online saves both time and money. Apart from the discounts, here are some additional benefits - 

Benefits of Online Bike Insurance -

   1.  Compare Before Buying: 

While buying online insurance, you can easily compare different insurers and their policies. You can even compare the premium rates for long term multi-year policy and single year policy with the tools available. Multiple filters help you shortlist the insurer and even set a budget. This means you can select a plan that best suits your requirements without having to depend on an agent. 

   2. Extra Savings:

Usually, the premium that you pay for bike insurance includes the commission of the insurance agent. Since there are middle-men or agents involved while buying insurance online, you can get the same plan for cheaper. Since the market is competitive, insurers regularly offer additional discounts to help you save more.

*PRO-TIP: All online insurers are regulated by IRDAI (Insurance Regulatory and Development Authority) and policies issues are 100% original. 

   3. Paperless Process:

Unlike before, the documentation process is now simplified. Like any other website, you only need to provide some basic details and upload photographs / scanned copies of some necessary documents. This saves time and the scope for error is almost zero. Once all your documents are submitted, you can pay the premium online through net-banking or your credit or debit card.

    4. Soft Copy of Bike Insurance Policy: 

Since there are no agents involved, your bike insurance policy will never be lost or misplaced. As soon as your payment is successful, you will receive a copy of your policy within minutes on your registered email ID. In case of an emergency, you can save time and produce your policy copy with a simple click.

    5. 24x7 Assistance: 

To ensure the most reliable customer service, all insurance providers offer 24x7 assistance. In case of major issues like theft or accidents, you can connect with an insurance expert instantly. All you need to do is dial a dedicated toll-free number. 

Table Comparing the Benefits of Online and Offline Bike Insurance:  

BenefitsOnline InsurerOffline Insurer
Compare Quotes from Different InsurersAvailableNot Available
Discount on Premium AmountAvailable Not Available 
24*7 customer support Available Not Available 

Summary: 

Comparing the benefits, buying bike insurance online seems the obvious choice. However, it is important to read and understand the terms and conditions well before making any payment. Most online insurance providers offer free consultation services to help you make an informed decision.

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