Taking an insurance policy on your bike means that you and your vehicle are protected by your insurance provider in the event of an accident or if your bike sustains any damages. But taking an insurance policy means timely payments of your insurance premium. If premiums are not paid regularly, causing your policy to lapse, you are then at the risk of bearing the total cost of damages in the event of an accident or theft.
Sometimes you might not be able to physically go to your insurance provider to renew your policy due to an emergency, or a tight schedule. That’s no longer a problem. As the world goes digital, we have too! You can now renew your insurance policy with us online, and here are few reasons why renewing your insurance online would benefit you.
Sometimes, you might be unable to renew your insurance policy physically due to unavoidable situations, or even unexpected situations like the current pandemic. Under these circumstances, it is best to renew it online, because you still need to own insurance even if you aren’t using your bike much, as it will cover the financial loss in case of any damages to your two-wheeler due to natural disasters or theft. You can make timely payments online before your policy expires, to keep you protected at all times.
2.Get complete support when you make a claim
Under the IRDAI’s Insurance Amendment Act, taking an insurance policy on your vehicle is mandatory. All two-wheeler owners must own at least a Third Party Liability insurance policy, and like all policies, this needs to be renewed as well. Your policy becomes inactive if you do not renew it, and riding your two-wheeler without valid insurance is unlawful and could result in a hefty fine or even imprisonment. Furthermore, an inactive policy means you will have to bear the total loss incurred as your insurance provider would be unable to help you.
By renewing your insurance online, you would ensure that you are covered at all times so your insurance provider would be able to offer you support and financial coverage when you make a claim, and you can avoid the penalties of not owning valid insurance.
If an unfortunate situation takes place where damages were incurred by your bike or to the property of others, the first thing that you’re expected to hand out is your insurance details to make a claim. By renewing your policy online, you would have a soft copy of your insurance policy details with you at all times, making the process quick and easy, without the hassle of rifling through numerous papers.
4.No bike inspection
Before you take a new insurance policy or renew your existing one, you would have to get your bike inspected by the insurance provider so that they would be able to determine the value of your bike and state your premium accordingly. When you renew your insurance online before the expiry date, you would not have to get your two-wheeler inspected, which means that your bike insurance premium wouldn’t increase.
5.Get access to the Cashless Claim Garage Network
With Chola MS, you get access to our authorised garages near you in case your bike sustains any damages and needs repairs. The cashless claim facility means we will cover the cost of repairing your insured two-wheeler on your behalf, so you won’t have to.
It’s time to go digital - to ensure maximum safety and protection for you and your vehicle. Start by renewing your insurance policy from the comfort of your own home, for timely payments, and to get support from your insurance provider at all times.