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A Simple Guide to Two-Wheeler Insurance Online

There is nothing that beats the comfort and convenience of riding a bike when it comes to the daily commute. Our bikes are our best friends and we take the utmost care to maintain them. Taking care of one’s two-wheeler extends to also ensuring the overall safety of our bikes by getting insurance. Many people make the mistake of skipping their purchase or renewal of bike insurance by considering it as an additional dent in the wallet. Now that the government of India has made it mandatory for all bike owners to own insurance, it is important to remember that riding around without one is an offense which attracts a penalty.

Those who evade buying two-wheeler insurance have a mistaken view that it is only an expense and miss understanding the benefits that it bestows on them as a vehicle owner. Though purchasing insurance can cost you some money in the beginning, it can save you a lot of money in the event of mishaps or unfortunate circumstances that result in a physical injury to you or damage to your bike. Also, insurance provides monetary assistance in case of theft or any damage to a third-party in case of an accident and protects you from all the liabilities involved.

Buying a policy online:

Thanks to technology, buying a two-wheeler insurance policy has been made easier and hassle-free. Applying for a policy online will save you a lot of time and being able to consider all your policy options, you can make informed choices and even save some money. If you don’t go to the right people offline, there are chances that you may be duped or misled into buying a wrong policy. When you purchase a policy online, you have the liberty to compare the rates and features of all the policies available and make a choice without needing to depend on an intermediary.

Renewing your policy online:

Renewal is nowadays very easy to do online. For instance, on our Chola MS website, pop ups guide our customers to fill in the renewal form, making it a hassle free experience. The renewal form will typically require information about your old policy, so keep that document or details at hand when you begin the online renewal process. Do take a moment to double-check that all the details you’ve entered in the form are correct and that you select the correct plan that you would like to opt for. Once you finish your recheck of details, you will be prompted to make the payment online. One of the best parts of doing your renewal online is you don’t need to hunt for your cheque book or make an entry in challan. With a few clicks you can pay using a variety of easy payment options. As soon as the transaction gets completed, the renewed policy is sent in a PDF via mail. Save the document and it is advisable to have a printed copy with you, while riding. Some insurance providers also have a mobile app from where the renewal procedure can be done.

Claiming Insurance Online:

In the event of an unfortunate event involving the bike, you can claim your insurance money by either of the two processes - Cashless claim or Reimbursement claim.

In a cashless claim, the money is directly sent to the garage where the repair is done. Further, a cashless claim can be availed only if the repairs are done in the garages authorized by your insurance provider.

In case of a reimbursement claim, the repairs can be done in the garage of your choice. The expenses are to be borne by the insurance holder and can be later claimed by your insurance provider.

Advantages of Buying a Two-wheeler Insurance policy online:

Buying a Two-wheeler Insurance policy online can be a lot more convenient and beneficial compared to buying one offline. Listed below are the the advantages of getting a two-wheeler insurance policy online.

  • Price Comparison: Shopping online generally can be very beneficial due to the fact that you can compare the prices and benefits that are listed by all the different insurance providers and decide better which of these would suit you the best.
  • Premium Calculation: One of the major advantages of getting two-wheeler insurance online is that it makes the math easy. It will help you calculate the premium and give you an exact estimate of the costs involved.
  • Easy Renewal: It is in human nature to err and forget things. With the numerous things running constantly in our minds, it can be difficult to keep track of the renewal dates and most importantly to get it renewed at the earliest to avoid penalty. Getting insurance online makes that easier for you.
  • Easy Access: During an offline renewal or policy claim, sometimes we do not get all our documents instantly and have to take a trip or two to finish the procedure. But, that is not the case with insuring online. Online insurers mail your documents right after the completion of the process making it easy to access it.
  • Easy Payment: One of the major advantages that make online insurance attractive is the fact that it allows us to make payments in any mode that we are comfortable with.
  • No Extra Charges: An online renewal transaction will help save you money by not having you paying extra money than the intended amount during the renewal process.
  • Online Support: All the insurance providers have an online support system that will provide you with all the help and assistance you would need throughout the process, in case of any doubts and confusion.
  • No Inspection: It is natural for us to sometimes forget to carry or not possess a document that might be required for the renewal process. Getting a policy online solves this problem for there is no inspection or documentation required for the process.

On a final note, with the policy being mandatory for riding a bike, it is better to get insurance online, which is a much faster and hassle-free process. For once the easy way out also gives you all the benefits too.

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