Being a two-wheeler owner, you must be fully aware of the importance of a bike insurance cover. Needless to say, it has been explicitly mentioned as a legal requirement in the Motor Vehicles Act. Let’s face it, the decision to buy the policy comes with its own share of hesitation and confusion. One of the foremost among them is whether to buy it online or offline. With everything becoming online, right from ordering food to schooling to doctor’s consultation, even insurance policies can be purchased with the click of a button. But are they genuine enough or will you become a victim of online fraud? These and many other misconceptions will be sorted in this article. Read on.
What are the Common Myths Surrounding the Purchase of Bike Insurance, Be It Online or Offline?
Purchasing a Two-wheeler Insurance Online is Very Cumbersome
On the contrary, opting for bike insurance online is much easier than buying it in person. Just visit the website of the insurer that you are interested in or you can also choose to download their mobile app. Share the details of your bike and previous policy details (if any) and voila! you are done. Your vehicle will get insured instantly without any involvement of paperwork whatsoever.
Online Insurance Policies Lack Personal Assistance
Absolutely not! Often this is the most widespread rumour that has no truth to it. Offline plans do have insurance agents and officials in the branch to guide you in your policy selection, however, online policies have 24/7 customer support. They are available at all times, via e-mail or phone to ensure a seamless buying process. Whether you have queries regarding the features of a particular plan or payment processes, the customer support will put all your doubts to rest.
One Needs to be Tech Savvy
Wrong again. All you need to know is how to operate a computer and the internet. The insurance provider lists out each and every detail so that the process may seem like a cakewalk. Just a few swipes and clicks, and you’ll be well on your way owning the insurance policy. Moreover, apart from computers, you can even get the job done on internet-based smartphones. Plus, the number of steps involved is lesser than that of the offline method.
Buying Online Policies is Expensive
If one actually sits down to do the calculations, it is comparatively cheaper than its offline counterpart. The reason being the absence of middle-men i.e. the insurance agents as the insurance company is directly dealing with the customer. This also eliminates the different layers through which a policy is marketed. Plus, you save on the commission that you would otherwise shell out to the agents. Instead, these can be translated as savings into your premium.
The Choices are very Limited
It is exactly the opposite. When you buy insurance online you have the option of comparing different insurance plans, add-on covers, and services, giving you the power to choose suitable bike insurance for your vehicle. Just fill in the required details of your bike and get tailor-made insurance plans. Buying bike insurance online provides a wide range of insurance plans and their benefits so that you can make an informed decision.
Online Bike Insurance is Unsafe
This is a gross misconception. To be on the safer side, before you invest in a bike insurance policy, you must verify the details of the insurer with the rules listed on Insurance Regulatory and Development Authority of India (IRDAI). All the genuine insurance companies are registered there. Your transaction will be completely safe as they offer the most secure environment to buy insurance online. On the contrary you must be more wary about buying insurance via brokers or agents. You may or may not personally know them and they might deviate you for their own gain, thereby resulting in a wrong choice for you.
The Settlement Process can be Quite Complicated
Just as buying the policy online is hassle-free, so is the process of claim applications. It might not be immediate, but surely it can take a couple of hours, depending on how established your insurance provider is. Since there are no physical documents to exchange hands, faster approvals for insurance settlements are very much possible. Visit the site or their app and upload the pictures of the damaged vehicle and apply for the bike insurance claim. If the damages are minor, the claim will be settled instantly.
It can be very Time Consuming
As a matter of fact, chasing the brokers or agents to buy the bike insurance policy can be very time consuming. Whereas, if you were to buy it online, the purchase can be done in a matter of a few minutes from the comfort of your own home. You needn’t bother stepping out at all.
Now that most of your myths are busted, be assured that the online method is meant to make your life easier with its hassle-free approach. Everything is out there on the site or the 24/7 customer support that will guide you at every step. Access a comprehensive bike insurance coverage for your two-wheeler as per your requirements and enjoy the ease of transactions. In simple words, you should really consider getting two-wheeler insurance online rather than offline, given the simplicity and benefits it provides.