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  • Online vs Offline Two-Wheeler Insurance: Which one to choose?

    Published on January 31, 2019

    For the ones looking out for two-wheeler insurance, one of the biggest dilemmas that they must encounter is to choose between online or offline mode. We are already a part of a world which is fast moving towards becoming virtual. In this day and age, it doesn’t take a lot to understand why insurers are moving to online offerings.

    Though in India, people traditionally have believed in buying a product after seeing or experiencing it. Thus, a lot of people still rely on insurance agents to do all the work on their behalf, without realizing that buying online has a lot of benefits.

    Buying Insurance

    There should be no doubts about buying a two wheeler insurance . The Motor Vehicles Act of 1988 mandates all bikes in the country to have valid insurance on them always. Firstly, riding without a two-wheeler insurance is illegal in the country. Secondly, it offers you much-needed coverage. You can buy the third-party liability policy and get the bare minimum coverage. Or pay a slightly higher premium and get a comprehensive plan and get much better coverage.

    Benefits of Buying Online

    Shifting your focus to online two-wheeler insurance has a lot of benefits as mentioned. The following are some of the major benefits that you will see right from the start.

    1. Buying insurance online is definitely Time-Saving

    The entire policy buying process is condensed when it comes to online. This means that you would spend much less time buying a policy online as compared to the offline model.

    2.DIY: Do it yourself: NO dependence on external people

    Since there are no agents influencing your decision, online two wheeler insurance acts as a do it yourself project. This is helpful in the long run since you would be aware of your policy and things would not come as a shock later on.

    1. Lower Premium than offline policies

    In the online model, insurers do not have to pay for intermediaries. This calls for a reduction in premiums. Insurers save on overheads, distribution channels and so many other expenses. The end result is a more affordable plan.

    1. Lesser Paperwork than offline policies

    The websites that insurers have been intuitive, to say the least. The online forms require only limited information and ensure that you can get through them quickly. Unlike the offline mode, the online mode doesn’t require photocopies of other documents, making them much easier.

    1. Better Service from Online Portals

    Since there is an online portal, you can get all your policy related details from the same. Insurers also have interactive tools to remind you of two-wheeler insurance renewal as well. You can pay your premiums online as well.

    1. Power of comparison

    One of the biggest benefits of buying a two-wheeler insurance online is the ability to compare bike insurance policies easily before buying. Comparing policies lets you learn about them in bit more detail. Along with it, you can save a considerable amount of money as well. When you compare bike insurance, you would receive quotations from different insurers for the same bike. Thus, you can buy a policy that is affordable and offers good features at the same time.

    7.Read online reviews and then take an informed decision

    If you are not too convinced about a policy, you can search for online reviews. These reviews are posted by fellow policyholders who have had prior experience with insurers and their policies. This will allow you to take a more informed decision.

    8.Know your Policy Details well

    A good number of policy claims are rejected due to lack of sufficient details or mismatch of the same. The presence of an online portal ensures that you can check the policy details at any point in time. This would allow you to fill the details carefully and reduce the chances of claim rejections.

     

    On a concluding note, you can expect to receive the two-wheeler policy documents in your inbox within few minutes of paying the premiums.