If you are the owner of a motorcycle, you may be aware that you need to hold an insurance policy for the same. Mainly, third-party liability is mandatory, according to the Motor Vehicle Act of 1988. Buying a comprehensive plan protects you financially from accident, vehicle damages, or theft. Today, you can buy bike insurance online as well. But there are some simple steps you need to follow –
1. Research and compare
Before you buy online bike insurance, make sure you compare the different insurers. Research about the reputation of the company you select, check consumers reviews and find the claim settlement ratio. You can find this information on feedback forums and insurance company portal. While doing the research, also check how much different policies cost. It is better to select a policy which fits your budget and offers the kind of coverage you seek.
2. Website of the preferred insurance provider
After finalising the preferred insurer, visit their portal where you can begin the process of buying two-wheeler insurance. There is a good chance that your preferred insurance company may offer other kinds of policies like health, general, and four-wheeler insurance. Find the tab where you can buy the insurance for your motorcycle and click on it.
3. Enter details on the form
Once you land on the 2-wheeler insurance page, you need to click on the form for inputting the details which are your name, address, and phone number in the personal contact section. You then need to add your vehicle information such as registration number, the name, model, year of manufacture, and type of motorcycle, i.e. geared or non-geared. Once done, click submit, and you get redirected to a new page.
4. Select the type of policy
You have the option to choose between third-party and comprehensive plan. While the law says third-party liability is compulsory, there are no provisions for damage or injury to self. Hence, many opt for comprehensive plans as it offers coverage to you and your asset along with third-party asset and person. You can also include some add-ons for additional protection. It is never a good idea to drive on the Indian roads without a comprehensive plan.
5. Pay insurance premiums
The process of buying online two wheeler insurance reaches the final stage, where you need to pay the premiums. Once you have selected the add-ons and the policy, pay the premiums through credit or debit card or net banking account. It takes a few seconds for the payment to get processed, after which you receive the soft copy of the agreement on your e-mail. The physical copy gets sent via post to your address.
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