Before buying a motorcycle insurance policy, you must consider certain factors, the primary one being purchasing a policy online or offline. With all the technological improvements, purchasing bike insurance online is much easier and quicker. But to continue your two-wheeler insurance coverage, you need to renew it too. Otherwise, the policy will soon lapse and make you uninsured against legal and financial complications that you may face when riding your bike.
However, with the increasing number of fraud cases, you must be conscious of several security components. Therefore, picking a trustworthy and reliable insurance provider to safeguard your motorcycle is essential.
This blog will focus on how to be safe when buying or renewing bike insurance. So, let's get started.
Points to Keep in Mind for Safe Buying or Renewal of Two-wheeler Insurance Online
Safety is a matter for nearly all individuals regarding internet payments. With growing awareness, the graph of fraud is steadily improving. In certain areas, you may have even observed the label, "be conscious of fraud".
- Once you buy/renew a two-wheeler insurance policy, check to see your insurer's authorised signature in the policy's scanned documents.
- After a discussion with the insurer, you can get a clear image of the policy norms and any uncertainties regarding your insurance policy.
- Always remember to request the transaction receipt or costs from the insurer. It ensures transparency and authenticity of the transaction.
- You also need to be wary of the information given on the website. Look for customer reviews to verify the insurer's authenticity and services before you purchase a policy from them.
- Check whether the insurer is registered with the IRDAI for the insurance business. Instances of non-registered insurers have emerged in the past. So, steer clear of this hassle by checking its authenticity online.
Advantages of Buying Two-wheeler Insurance Online
Your bike requires insurance when you purchase it, and the insurance policy must also be renewed annually by paying a yearly fee. You can even buy multi-year bike insurance policy whose term can be three to five years. Doing this prevents you from the hassle of renewing every year. Besides, the overall premium remains lower compared to the sum of premiums paid annually for the time the long-term bike insurance remains active.
Online policies are more convenient to buy as you don't have to wait in line, fill out a form or deal with the insurance agent in person.
Make sure you are careful when entering your personal information in the online application form for a two-wheeler insurance policy. Once you have received the policy, be sure to double-check all the information to ensure there aren't any mistakes.
The digitisation within the sector has made applying for and renewing insurance for your vehicle easier. You get the following safety benefits when buying your policy online:
Typically, purchasing insurance for a two-wheeler offline is a great struggle. The presence of agents usually makes it troublesome to apply for and renew automobile insurance due to the lengthy process and administration formalities involved. Additionally, keeping track of all the physical documents made the offline process a hassle. Making an online purchase of insurance is easier, as you will have to submit digital copies of your documentation, and you will also receive an e-copy of your insurance.
Secure the Best Deal for Your Needs
While purchasing bike insurance online, you have the liberty to evaluate various insurance coverage options and the price of every insurance policy. Internet testimonials and scores concerning a business will give you a better idea of the quality of its services.
Read more - Is Online Bike Renewal Really Safe?
Non-stop Customer Service
The best thing about selecting an online insurance policy may be the non-stop customer care option for queries. If something goes wrong, you do not have to stress. You can contact customer care for guidance immediately by email, phone or chat.
No Broker Charges
The standard technique consists of agents and intermediaries and other high-quality screening methods. Online two-wheeler insurance excludes agents and intermediaries, eliminating brokerage costs. It reduces the overall premium amount that you would have to pay.
Bike insurance companies know that an online purchaser must exert more effort than a traditional buyer to acquire the right policy. Hence, they provide greater transparency with their online offerings. The product's attributes are described in detail so that the customer knows exactly what they are purchasing.
Avoids Claim Rejection
Claims rejections are the worst nightmare for any policy buyer. However, the positive side is that if you pick the right policy and fill in the application correctly, your chances of rejection are reduced. You can easily pick the right policy online is easy as you can compare a plethora of alternatives based on coverage, premium, and other features. There are times when bike insurance claims are rejected because the insured does not provide exact information when applying. Also, rejections can occur when the insured is unaware of the available deductions and other areas not covered under the bike insurance policy.
The Last Word
The electronic world makes our life simpler and less complicated. The same applies to insurance too. However, with all the benefits, drawbacks are part and parcel.
Paytm Insurance protects you by confirming the originality and sincerity of the insurance business. So, before buying or renewing insurance, look at the information provided and ensure there's no fraud. Be vigilant and don't disclose your data or account specifics to anyone.