Top 5 Benefits of Online Bicycle Insurance Renewal
By law, third-party insurance is mandatory for two-wheeled vehicles. However, the policy could be extended to protect the vehicle and driver in the event of an accident, damage due to natural disasters such as fire, storm, flood, or man-made disasters such as theft, strike, theft, etc. by opting for an all-risk insurance policy.
Buy a two-wheeler insurance policy online
Two-wheeler insurance is an annual contract and requires renewal each year. This will protect you from third party claims in the event of any accident and will help keep you financially and health protected in the event of accidents, natural calamities and if the vehicle is destroyed. In today’s digital age, renewing bike insurance online is just a few clicks away, and the process is quick and hassle-free.
The benefits of renewing your policy online include:
1) Renew online at your convenience.
Since the data from the previous policy was already entered into the database during the previous purchase, minimal effort is required to complete the renewal policy.
When renewing your policy:
• Check the accuracy of data such as the Insured Declared Value or the IDV of the car, its No Claim Bond, etc.
• Check if it is necessary to include additional features in the renewal policy, such as annexes, etc.
• Pay the premium with a debit or credit card
And you’re finished. This makes online bicycle insurance renewal really fast and convenient!
2) You receive the policy instantly.
Unlike before, when the policy used to be mailed to the insurer and would take several days to arrive, now, as soon as you make an online policy renewal payment, the digitally signed policy is instantly issued to the customer as a PDF document. You can save it to your system, as well as print it out and keep the hard copy.
A printed copy of the policy is as good as the original and the authenticity of the policy does not change. In addition, there is no delay between the payment of the premium and the receipt of the policy document. So even if you renew your policy at the last minute, you can still enjoy riding your two-wheeler without worrying about your policy bond.
3) Selection of coverage.
For two-wheelers, third-party insurance is required under the Motor Vehicle Act 1961. This protects the vehicle owner against third-party claims in the event of an accident.
However, the owner can opt for comprehensive coverage to protect himself and the vehicle in case something undesirable happens. It is also possible to obtain additional coverage for the companion and zero depreciation or enhanced coverage for accessories and parts while renewing the policy online. The additional coverage comes at a small additional cost, but it goes a long way toward protection.
So if you choose to renew your policy online, you have the advantage of weighing the pros and cons of riders and their benefits versus cost and then opting for the plan that best suits your needs.
4) Get the best quote.
Traditionally people used to renew their two-wheeler insurance policy with the same person they bought it from. This was due to sheer convenience.
However, with the advent of online renewal of your existing two-wheeler insurance policy, you can now compare the various plans on offer and then opt for the one that gives you the best deal based on your cost-benefit analysis. You don’t need to rely solely on your adviser and trust that he is giving you the best quote. The same can be checked online too!
5) Take advantage of the discount.
Insurance companies approved by the Insurance Development and Regulation Authority provide premium discounts if you have installed certain currencies, such as an anti-theft system. This discount can be taken at the time of online renewal and may be eligible if your vehicle is equipped. With online renewal, all possible options are in front of you and you can make the most appropriate decision accordingly.
In addition to these, some insurers provide the possibility of cashless repair if it is mentioned in the renewed policy. Online bicycle insurance renewal does not require any vehicle inspection, nor does it require any documentation if renewed within 90 days of expiration. Online policy renewal gives you the opportunity to compare the different policies on offer and select the one that best suits your needs. Insurance call center support is the extra service you get when you apply for renewal online.