If you are a bike owner in India, you ought to have bike insurance. It is a legal requirement. But, apart from complying with the law, there are many benefits of buying insurance online. Read on to know more.
Today, almost all the major insurance companies in India offer online services. Buying insurance online saves both time and effort. Listed below are a few benefits of purchasing bike insurance online.
Compare the plans
One of the significant benefits of buying anything online (including insurance policy) is that you have the liberty to compare the products side-by-side and make an informed buying decision. When it comes to buying an insurance policy, you can compare the different plans offered by the insurer, know their features, pros and cons and buy the one that best suits your needs and has an affordable premium.
Unbiased information
When you purchase an insurance policy from an insurance agent or by visiting the insurance office, the agent may try to sell you a plan that may not be suitable for you. They may try to sell you a particular policy that may yield them a high commission. Similarly, the insurance representative at the insurance office may not provide all the necessary information about the plan they are trying to sell. This is why buying bike insurance online is beneficial. You get complete details of the plan, in terms of features, inclusions, exclusions, etc. You can assess your needs and choose the best policy accordingly.
Cost-effective
When you buy insurance through a broker, you may have to pay brokerage fees, which may increase your overall insurance cost significantly. Also, there is a risk that you may be dealing with an unauthorised agent who may sell you a substandard insurance policy.
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But, when you buy a policy online, you directly deal with the insurance company, and you can avoid paying any additional fees. Also, if you have any doubts with the buying process, you can contact the customer care service and seek assistance to complete the process.
Payment security
One of the major concerns that most people have about buying an insurance policy is the safety of their money. But, you need not worry about it. Today, all reputed insurance companies have a secured payment gateway on their website that ensures the safety of your transactions and vital banking details. You can make payment through credit/debit card, third-party payment gateway, and internet banking, and will get a receipt of the payment on your e-mail or registered mobile number.
Minimal documentation
This is another significant benefit of buying an insurance policy online. When you purchase insurance online, you need not have to go through complicated paper works; you must fill the form online, comply with the KYC norms, and upon verification, the insurer will issue the policy. The policy-related documents will be sent to you on e-mail.
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Thus, when you buy insurance online, you can choose the policy to suit your needs at a cost-effective price. So, get your insurance policy now, and get your bike and yourself protection against accidents.
