Wish to buy an online two-wheeler insurance policy? Here’s how to go about it! Through the Motor Vehicles Act of 1988, the Government of India has made it compulsory for every two-wheeler owner to have an insurance policy. So, if you have recently bought a new bike, you will have to buy insurance coverage before taking your new ride out for a spin. Just like other insurance policies, a two-wheeler coverage secures the policyholder against financial losses caused due to unfortunate events. This means the insurer will bear the expenses of injuries and damages if the insured party meets with an accident. Now, you can easily buy insurance online. All you need is your smartphone or laptop. With a few clicks, you can secure your vehicle within minutes from the comfort of your home. To help you with the process, here is a step-by-step procedure for buying an online two-wheeler insurance policy.
Step 1 - Identify your need It is important to understand what kind of coverage you need. One of the main motives behind you getting your vehicle insured is to protect yourself from personal as well as third-party damage costs. So, understand the type of insurance that will be best suited for your needs. Third-party insurance is mandatory and only covers the losses sustained by the thirdparty in an accident. However, if you buy comprehensive insurance, you can enjoy more extensive coverage that extends to protect your own twowheeler as well. So, it ideally makes sense to purchase comprehensive coverage. Step 2 - Do some research on insurance terminology Before buying an online two-wheeler insurance policy, it is important to equip yourself with the basic knowledge about bike insurance. First, familiarize yourself with different terms used by insurance companies like IDV (Insured Declared Value), NCB (No Claim Bonus), Zero depreciation, etc. Once you have thorough knowledge, you can explore the market based on your requirements and needs. Doing research will help you buy the right policy suited for you and your vehicle. Step 3 - Choose an insurance provider It is important to choose the right insurance company while buying online two-wheeler insurance. A dependable insurance company will help you get the best assistance during emergency situations. An ideal insurance provider should have excellent pre- and post-sales services. To verify this point, you may check the company’s website for reviews. You can also use aggregator websites to make a comparison. Once you are satisfied with your choice, head over to their website to explore their plans and premiums. Step 4 – Fill the form Once you have selected the policy of your choice, fill up the insurance application form. Do keep all your personal information ready, such as your ID, bike registration papers, make and model details, and so on. After you
have filled the form, do check to see whether your have made any errors. If all looks good, go ahead to submit. Step 5 - Payment The final step of purchasing an online two-wheeler insurance policy is the payment. After making the payment, you will receive a soft copy of the policy at your email address. You can print it out and keep a copy in your bike storage too. We hope that this article helps you while buying online two-wheeler insurance . All the best!