The Advantages of Buying Bike Insurance Online
The Advantages of Buying Bike Insurance Online: Convenience and More
Everything is digital nowadays. The advent of online services has revolutionised numerous industries. It has reshaped how we gain access and engage with services. Gone are the days when people used to go to places and stand in queues to obtain various services. Now, everything is contained within our grasp, in the form of a cellphone or a personal computer, thanks to online services. And bike insurance is no exception. In this article, we will be discussing the advantages of buying bike insurance online.
Table of Contents
Advantages of buying bike insurance online
1 . Minimum time consumption
The first and foremost advantage of buying bike insurance online is its time-saving ability. Traditional insurance purchase methods used to be arduous and time-consuming. The time consumed for commutation, waiting in queues, discussions with the insurance agent, etc., is eliminated. With the arrival of the internet, buying a new bike insurance policy is just a few clicks away with the help of electronic gadgets such as a mobile, tablet, laptop, etc., and an internet connection. Visit the official site of the insurance provider, check the policies available, and pay for the one that meets your requirements. There you go. It's done in a matter of minutes.
2. Minimum paperwork
The traditional approach to buying bike insurance involves plenty of paperwork, including filling out forms, submitting photocopies, and documents such as identification proofs, vehicle registration papers, address verification, etc. This is a very tedious and time-consuming process. But when it comes to buying bike insurance online, a lot of time is saved due to minimal or no paperwork. Insurance companies that provide online services ensure a reduced documentation requirement, providing a quick and hassle-free purchasing experience.
3. Policy comparison
Buying bike insurance online offers you the benefit of comparing different insurance service providers. You can look into each of their reviews, feedback and customer experiences, consider various options, and analyse important factors such as the claim ratio, coverage offered, policy terms, premium, etc. It makes you choose the best insurance option for your two-wheeler that suits your requirements.
4. Cost reduction
Costs are greatly reduced when buying bike insurance online. The reason is that in the traditional approach, insurance companies must pay insurance agents, which results in higher costs for buying insurance premiums. When you buy bike insurance online, agents and other intermediary costs are taken out of the equation, thereby reducing costs significantly and paving the way for a seamless customer experience.
5. Uninterrupted 24*7 customer assistance
Insurance companies offer 24*7 customer assistance service to ensure customers resolve their bike insurance-related queries. Either the company provides the facility of online chatting or a telephonic interview through a toll-free number with a customer service representative. This ensures the customer's doubts and queries are resolved quickly and efficiently.
6. Enhanced payment security
Insurance companies have high-end security systems and encryption technologies to ensure safe transactions during the purchase of bike insurance premiums. The policyholder's financial information remains safeguarded, and the transaction process occurs quickly and without lag.
7. Enhanced customisation options
Buying bike insurance online offers customers several diverse customisation options. This enables them to create tailor-made insurance policies to suit their requirements. Customers can choose between third-party and comprehensive coverage, which includes add-ons such as roadside assistance, personal accident cover, etc. This option provides a lot of flexibility for customers to choose a policy of their choice, unlike traditional methods, which have a one-size-fits-all approach.
8. Easy policy renewals
The convenience and efficiency of online platforms when it comes to buying bike insurance don't end with just the initial purchase of the policy premium. Policyholders receive timely reminders online or automated notifications via either email or SMS to renew their policy whenever the policy is close to expiration. This ensures policyholders are well-informed about the need for policy renewal. Besides, like purchasing, policy renewal is done quickly and efficiently without much hassle.
9. Transparent premium calculation
Transparency in premium calculation allows policyholders to get a clear and complete understanding of how their coverage choices influence the cost of insurance premiums. Getting immediate information on premium calculations helps them make well-informed decisions based on their budget. Policyholders can thereby choose which premium to choose or which add-on to attach to the premium. This is a valuable advantage for budget-conscious policy buyers.
10. Digital documentation
Customers receive their policy documents online almost immediately via email without needing a physical copy of the document. This also makes access to the document easy whenever needed. Digital documentation also has the additional benefits of easy accessibility, environmental sustainability, and enhanced security.
Conclusion
The digital era has greatly changed the insurance industry, redefining how insurance products are purchased and experienced. The increase in bike insurance sales online is a testament to the remarkable benefits the digital era brings to the industry. In this fast-paced world, the online purchase of bike insurance has also been a boon for customers, with its time and cost efficiency and ease of purchase. This is bound to evolve even further, considering how technology keeps evolving over the years.
Frequently asked questions
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What are the documents needed to buy bike insurance online?
To purchase bike insurance online, you will need the following documents:
- Policyholder's details
- Policy holder's driving license information
- Vehicle's registration number
- Vehicle's registration certificate (RC) number
- Previous insurance policy number (if applicable)
2. What is a Digi locker?
Digi locker is a digital platform initiated by the Ministry of Electronics and Information Technology. It is used to store and access digital versions of various documents, including driver's licenses, vehicle registration certificates, etc.
3. What is a no-claim bonus?
No Claim Bonus is essentially a discount that insurance providers offer to policyholders who have not made any claims against their motor insurance policies during a specific period.
4. How many claims can be raised in a bike insurance policy in a year?
There are no restrictions on the number of claims raised in a bike insurance policy. However, repeated claims can affect the policyholder's no-claim bonus and premium amount at the time of renewal.
5. What is zero depreciation cover?
Zero depreciation cover also called Nil depreciation cover, is an add-on that covers the whole cost of repairs for the vehicle insured without taking depreciation into account.
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