Want to protect your two-wheeler without running from one office to another? Getting insurance online is now quick and seamless, helping you protect your two-wheeler from theft, accidents, and natural disasters with ease. This protection is essential not only to meet legal requirements but also to avoid unexpected expenses.
Purchasing two-wheeler insurance online lets you compare policies, select coverage that fits your needs, and complete the entire process from the comfort of your home. This blog will walk you through the key steps to make buying insurance smooth, simple, and reliable.
Start by Choosing the Right Policy Type
When buying two-wheeler insurance online, the first decision is selecting the right policy type. The two main options are:
- Third-party insurance: Mandatory by law, this covers damages or injuries caused to others but does not cover your vehicle.
- Comprehensive Insurance: Offers wider protection, covering third-party liabilities as well as damages to your two-wheeler, including theft, fire, accidents, and natural disasters.
If your two-wheeler is, comprehensive insurance is usually the better choice to avoid unexpected repair or replacement costs. Carefully consider your vehicle’s condition and your budget before making this important decision.
Research and Compare Insurers Thoroughly
Before finalising your two-wheeler insurance online, it is important to research and compare different insurance providers. This step ensures that you get the best coverage at a competitive price. When comparing insurers, focus on:
- Premium amounts and coverage benefits
- Insured Declared Value (IDV) options
- Claim settlement ratios and average claim processing times
- Customer reviews and service quality
Also, check if the insurer offers additional conveniences such as cashless repair services and easy policy renewal. Taking the time to compare these factors helps you choose a reliable insurer that meets your specific requirements.
Evaluate Optional Add-On Covers
When purchasing two-wheeler insurance online, consider if you need any optional add-on covers to enhance your policy. These additional covers offer extra protection beyond the standard benefits. Common add-ons include:
- Zero Depreciation Cover: Ensures full claim amount without deduction for depreciation on parts replaced during repairs.
- Roadside Assistance: Provides help during vehicle breakdowns or emergencies, such as towing or minor repairs.
- Personal Accident Cover: Offers financial compensation in case of injury to the rider or pillion passenger.
- Engine and Gearbox Protection: Covers repairs for mechanical failures not caused by accidents.
While add-ons increase your premium, they can be valuable in reducing out-of-pocket expenses during claims. Choose add-ons that best suit your needs and budget.
Use Online Tools to Calculate Premium & Set the Right IDV
A key step when buying two-wheeler insurance online is understanding how your premium is calculated. The IDV represents the current market value of your two-wheeler after accounting for depreciation. It plays a crucial role because:
- Setting an accurate IDV ensures you receive a fair claim amount in case of damage or theft.
- A low IDV might result in lower claim payouts.
- A high IDV increases your premium unnecessarily.
To get the best balance between coverage and cost, use the online calculators provided by insurers to estimate your premium based on the correct IDV for your vehicle.
Provide Accurate Personal and Vehicle Details
When filling out the application to buy two-wheeler insurance online, ensure all personal and vehicle details are entered accurately. This includes:
- Your full name and contact information
- Vehicle registration number
- Engine and chassis numbers
- Make, model, and year of manufacture
Providing correct information is essential to avoid any delays or issues with policy issuance and claim settlements. Mistakes or omissions may lead to claim rejections or policy cancellation, so double-check all details before submitting your application.
Review Policy Terms and Conditions Carefully
Before making the final payment, take time to read through the policy documents thoroughly. Even when buying two-wheeler insurance online, it’s important not to skip this step, as it ensures you fully understand what you’re purchasing.
Pay close attention to:
- What is included and excluded in the coverage
- Claim procedures and required documents
- Deductibles and policy limits
- Renewal terms and any applicable waiting periods
If anything is unclear, reach out to the insurer’s customer support for clarification. Understanding the terms in advance helps prevent misunderstandings during claim settlement and ensures the policy meets your expectations.
Understand the Claims Process and Network Garages
Understanding how to raise a claim is just as important as buying the policy itself. When you purchase two-wheeler insurance online, take some time to familiarise yourself with the insurer’s claim process and their network of garages.
Here are key points to check:
- Cashless Claim Facilities: See if the insurer has tie-ups with garages near your area where repairs can be done without paying upfront.
- Reimbursement Claims: If you choose a garage outside the network, you may have to pay the cost first and then submit documents for reimbursement.
- Required Documents: Typically include the policy document, FIR (in case of theft or major damage), repair bills, and a duly filled claim form.
- Time Limits: Most insurers require you to report the incident within a specific time. Delays can lead to rejections.
Knowing the process in advance helps ensure a smooth experience if you ever need to file a claim.
Preserve Your No-Claim Bonus (NCB) and Renew on Time
A key advantage of maintaining a claim-free insurance history is the No-Claim Bonus (NCB). This is a discount offered on your premium during renewal for every year you do not file a claim. When buying or renewing your two-wheeler insurance online, it’s important to keep this benefit in mind.
Here’s what you should know:
- NCB typically starts at 20% and can go up to 50% over consecutive claim-free years
- It applies only to own damage cover, not third-party cover
- If you miss renewing your policy within 90 days of expiry, the NCB benefit is lost
To avoid losing your bonus, set reminders for timely renewal and always check that your NCB is correctly reflected when you get your renewal quote.
Choose Coverage That Moves with You
Securing two-wheeler insurance online doesn’t have to be complicated. With the right approach, you can find a policy that matches your needs, fits your budget, and offers reliable protection for your ride. From understanding coverage types to knowing how claims work, every step helps you stay prepared on the road.
Taking a few moments to compare options, go through the details, and renew on time can make all the difference. When you’re ready, trusted online insurance brokers like Jio Insurance Broking Ltd. help you explore plans, adjust your coverage, and get insured with ease.
Image by t0masx1 from Pixabay (Free for commercial use)
Image published on August 25, 2021
