How would I be benefited with online bike insurance renewal?

The Motor Vehicles Act, 1988, mandates every two-wheeler to have a third party liability insurance in order to ride their vehicle on road legally. Whether, it is mandatory or not, it is always a good idea to have bike insurance,as you never know when might come across as an unfavorable incidents. Having insurance does not prevent you from such incidents, but makes you financially protected in case if such event happens. If you already have insurance and it is about to get expired, renewing it online could provide you with quite some benefits.

Benefits of online bike insurance renewal

Online bike insurance renewal takes convenience to a whole new level with hosts of features for you to choose from. Some of the major benefits of buying bike insurance online are outlined as below:

More Affordable

Since you are renewing the insurance online, the administration and paper work costs are too high due to the intermediaries involved in the long chain of buying insurance offline. When you purchase a policy only the insurance company will pass on these benefits to the consumers by reducing the insurance premiums

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Easy Comparison

Online bike insurance renewal allows you to compare premium prices and features among various insurance providers. This ensures that you get the best offers for your bike insurance purchase.

Convenience

One of the biggest advantages of renewing your insurance online is the comfort and convenience it comes with. You don’t need to book any appointments and can buy or renew the insurance from anywhere at any time. Even on the go through your mobile. It also reduces errors which are at times part of the policy document, as you are the one who fills up the application forms.

Instant Access to Policy

In the traditional mode of buying policies, you would get access only to your cover letter and the policy document after certain duration of time, usually 10 to 14 days. Renewing insurance online cuts down that time dramatically. As soon as you renew your insurance, within a few minutes you can have your copy of your insurance policy. The quicker process is something that most online insurance buyers appreciate the most.

Additional Add-on Cover

With your normal bike insurance, you can opt to buy add-on covers, which enhance your policy and add more benefits. Most of the add-on covers come at a minimal extra cost, but the benefits provided far outweigh them. You can opt for insurance for the pillion rider or coverage for your special accessories or even spare parts.  There is an additional cover that you can opt for zero depreciation cover.

Discounts

The IRDA or the governing body for insurances in India outlines few clauses, where one can get additional discounts, apart from No Claim Bonus (NCB). If you are a member of certain automotive associations, then you might stand a chance to get some discounts. If you have installed approved anti-theft device on your bike, you can avail additional discounts.

NCB

If you had bike insurance previously and had not claimed during that tenure, you can are eligible for No Claims Bonus (NCB). It must be kept in mind that the no claims bonus is provided to the insured and not the vehicle. Since you did not claim any insurance in the previous term, it implies you were riding safely and thus the bonus as a reward. It is the insurance company’s way of saying thank you for driving safely.

Renewing your bike insurance online not only provides you with lots of conveniences but also makes sure you benefit from additional features. Comparing bike insurance online makes it easier for you take more informed decision and more economical one also. Getting comprehensive bike insurance makes a better case for itself, as you can get your bike covered against incidents and also get a cover for third-party liability.

 

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