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Key Features Of Buying Online Bike Insurance

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A two-wheeler is probably the fastest and convenient way of commuting on the busy Indian roads. It is estimated that nearly 21.18 million units of two-wheelers were sold in the year financial year 2019. It is interesting to note that Pune, a city in India has more vehicles than the people living in the metropolitan. It is estimated that the major cities in India are home to around 2.5 million motorcycles each. India was estimated to have nearly 190 million units of two-wheelers as of 2016, and the number must have certainly exceeded the 200 million mark by now.

 

Need For Online Bike Insurance

With the rising number in sales of two-wheelers, there has been a steady rise in challans and accidents of two-wheelers as well. That is why it is crucial to have your vehicle insured to cover the losses in any unfortunate scenarios. This is the reason why vehicle insurance was made mandatory in the 1988’s Motor Vehicle Act. Buying online 2 wheeler insurance is one of the easiest processes that can be done with a few mouse clicks. So let us look at some key benefits and features of getting bike insurance online.

 

Key Features of Online Bike Insurance

To cover any damages and liabilities for the policyholder, the policy providers take the utmost priority to provide the best services and benefits that are inclusive in the policy. Some of the notable features are:

 

·        Liability Coverage

This is the most basic objective of the policy wherein the coverage is provided for any damage that occurs in case of any accidents. This also includes the damages caused to other people involved in the accident, provided that you are at fault.

 

·        Comprehensive Coverage

This segment of policy covers the damages caused to your two-wheeler. The damages are mainly of two types, one that involved collision and another is the non-collision based damages and both of the damages are covered under this segment.

 

·        Instant Policy Documents

In the physical process of applying for insurance, you’ll certainly have to go from desk to desk with tons of paperwork to do. But in the case of online 2 wheeler insurance, the whole process is quick and requires very minimum paperwork and the documents will be available online as soon as the policy is bought.

 

·        No Obligatory Coverage

Generally, most of the offline policies include sections that are not a priority for the policyholder and simply increase the total value of insurance. When getting bike insurance online, you can select the coverages that you require and pay accordingly.

 

·        Personal Accident Cover

A personal accident cover is the most crucial part of a policy and is a mandatory field to choose from. This provides coverage for any injuries that are caused on the road while on your two-wheeler. The amount of coverage can vary from type of insurance you opt for but the basic coverage is of around INR 15 Lakhs.

 

·        Hassle-Free Transfer of NCB

NCB stands for No Claim Bonus, which in essence means that in the case of no accidents and damage during the policy period, the policyholder is given a reward. This amount of reward depends based upon the policy provider but generally ranges from 20% to 50% on the own damage premium.

 

·        Offers and Discounts

The total price you pay for your insurance policy can go down with the offers and discounts that you can find online. Also, you can avail memberships that can benefit you on policy renewals and referrals as well. Certain policies can even get you good deals to buy new two-wheelers as well.

 

·        Easy Renewal

For renewals of two-wheeler insurance within a certain period of time, there won’t be a need for inspection and documentation. This makes it simple and quick for you to renew the insurance without any inconvenience.

 

General Insurance Rates In The Market

Over the last year, the lightweight two-wheeler policy cost around INR 500 to 700. Whereas the heavy two-wheelers, i.e the 150cc to 300cc range’s policy cost vary between INR 1000 to 2000. So look for your vehicle’s specifications and you can look for the detailed policy pricing.

 

Therefore, buying an online policy makes it easier for you to compare the different policies suitable for your needs and choose the best one. Moreover, you can even renew it easily without any hassle-free processes and any extra charges

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Disclaimer :The information published on this website is for the public's reference only. Content of this information is to provide an overview of your Insurance needs and should not be relied upon for personal, medical, legal or financial decisions and you should consult an appropriate professional for specific advice for Travel/Health/Motor. Bharti AXA General Insurance Company Limited makes no representations about the suitability, reliability, timeliness, and accuracy of the information, travel, services, or any other items mentioned on this subject for any purpose whatsoever.

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