Wednesday, 12 June 2019

Top 5 Benefits of Bike Insurance Online Renewal




According to the law, third party insurance is obligatory for two-wheelers. However, the policy could be extended to protect the vehicle and the motorist in case of any accident, damage due to natural disasters like fire, storm, flood or man-made disasters like burglary, strike, theft etc. by opting for a comprehensive insurance policy.


Buying a Two-Wheeler Insurance Policy Online




Two wheeler insurances are annual contracts and it requires to be renewed every year. This will protect you from third party claims in case of any accident and help you to stay protected financially and health-wise in case of accidents, natural calamities and if the vehicle gets totalled. At this digitised age, it's simply few clicks away to travel for Bike insurance on-line renewal and also the method is fast and problem free.



The benefits of renewing your policy online includes:


1) Get the renewal done on-line at your convenience

 
Since the previous policy knowledge is already entered within the information throughout the previous purchase, it's smallest effort to extra service for the renewal policy.
While renewing your policy:
• Check the accuracy of data like Insured Declared Value or IDV of the car, your No Claim Bonus, etc.
• Check if further options square measure required to be enclosed within the renewal policy like riders, etc.
• Pay the premium by using debit or credit card
And you are through. This makes bike insurance on-line renewal extremely fast and convenient!



2) You receive policy instantly

 
Unlike earlier time when the policy used to be mailed to the insurer and took several days to reach, now as soon as you make an online payment for policy renewal, digitally signed policy is issued to the customer instantaneously as a PDF document. You can save it on your system as well as take a print out and retain the hard copy also.
A printout of the policy is as good as the original one and the authenticity of the same does not vary. Also, there is no delay between the premium payment and receiving the policy document. So, even if you renew your policy at the last minute, you can continue to enjoy riding your two-wheeler without having to worry about your policy bond.



3) Selection of coverage

 
For two wheelers, taking a third-party insurance is mandatory as per Motor Vehicle Act 1961. This makes the vehicle owner protected against third party claim just in case of any accident.
However, the owner will select comprehensive coverage to shield self and also the vehicle just in case of some unwanted happenings. Additional coverage for seat rider and nil depreciation or increased coverage for accessories and spare elements also are attainable whereas reviving policy on-line. Additional coverage takes very little further value however goes within the great distance towards protection.
So, if you opt to renew your policy online, you have the advantage of weighing the pros and cons of the riders and its benefits vis-à-vis the cost and then opt for the plan which best suits your needs!



4) Getting the best quote

 
Traditionally people used to renew their two-wheeler insurance policy with the same person that he had purchased it from. This was due to the sheer convenience.
However, with the advent of online renewal of your existing two-wheeler insurance policy, you can now compare the various plans offered and then opt for the one which gives you the best option as per your cost-benefit analysis. You do not need to depend solely on your advisor and trust that he is providing you the best quote. The same can be verified online as well!



5) Avail discount

 
Insurance companies that are approved by Insurance Regulatory and Development Authority provide discounts on premium if you have installed certain devises like anti-theft system. This discount could be availed at the time of online renewal and can be opted for if your vehicle is equipped. With online renewal, all possible options are there in front of you and you can make the most suitable choice accordingly.



Apart from these, some insurers provide with the facility of cashless repair if mentioned in the renewed policy. Bike insurance on-line renewal doesn't would like any review of the vehicle, neither needs any documentation if revived at intervals ninety days of expiration. Online policy renewal gives you the opportunity to compare the different policies offered and select the one best fits for you. Assistance from insurer's call centres is the added service you get when you go for online renewal.

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