How to Choose The Best Two-wheeler Insurance Online?

3 min read

In the post-pandemic year of 2021, it is essential to opt for a good insurance policy for your two-wheeler, as most two-wheelers have been largely in operational due to the lockdown. So, it is imperative to choose carefully while opting for the best two-wheeler insurance plan online in 2021. As per the current mandate of the Motor Vehicles Department, every two-wheeler plying on the road must possess an active insurance policy. The owner of the vehicle must follow this custom, failing which is punishable under the law. Amidst today’s digital trend, buying and renewing two-wheeler insurance is quick, simple and hassle-free. Without any external interference, you can complete the task with just a few clicks on your smartphone/laptop. But, to ensure maximum benefit, you must compare two wheeler insurance online.

Comparing different policies will give you an accurate picture and reveal how best your purpose will be served. In addition, there are specific tips and tricks that you must consider for the two wheeler policy compare practice.

1.Policy coverage

Your two wheeler policy compare journey must primarily focus on the amount of policy coverage. The analysis needs to focus on the budget and your coverage requirement. Most insurers over comprehensive plans with competitive pricing. However, when you compare two wheeler insurance plans, remember to check for optimum benefits.

2.The cost of the insurance

You must compare insurance policy digitally to know the best insurance cost. Careful research will reveal the most cost-effective policy that will perfectly suit your purpose. In addition, it will show what kind of coverage the company provides. Once the minimum-priced plan is located, advisors suggest double-checking the coverage issue. The coverage should not be compensated for the low price of the policy. Therefore, it is advised to compare two wheeler insurance before settling for any particular plan.

3.Check online reviews

One of the most dependable ways to compare insurance policy is to read the online reviews well. Before you settle for a particular plan, you must consider other people’s experiences, company status, claim settlement ratio, and percentage. Even if the plan seems favourable to you, you must read the negative reviews and make an informed decision.

4.Consider the add-ons

The policy-add-ons are certain additional benefits that are offered by all insurance companies based on differing circumstances. When you compare insurance policy for two-wheelers, you must ascertain the add-ons offered. There are various types of add-ons, including zero depreciation coverage, NCB or No Claim Bonus, emergency roadside assistance coverage, etc.

5.Fast and simple

Compared to other mediums, the online two wheeler policy compare is much more time-effective and straightforward. You can make an informed, unbiased decision by yourself, without any external intervention of any agent.

6.Calculate the premium

You have the liberty to avail the premium calculator facility online. Without any ambiguity, you can assess your premium cost right at the moment. As the needs differ with each user,  this is a handy and helpful tool for making a decision.

6.IDV

IDV, i.e., the Insured Declared Value, is another deciding factor for choosing the right plan. It determines the sum assured during the total loss or theft of the concerned vehicle. Therefore, IDV is directly proportional to the premium value.

These are some of the most critical aspects that you need to consider while comparing two-wheeler insurance plans online. Once you have weighed all the pros and cons, it is much easier for you to opt for the best two-wheeler insurance plan online in 2021.

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Gayatri Prabhu, Head-Digital Business at Mahindra Insurance Brokers Limited (MIBL) is one those few digital leaders who has the width and depth that is required to execute an ROI driven holistic digital strategy. She cuts through the noise, identifies the critical levers and leads her team to successful execution of the defined strategy. Her core mantra to win new and retain existing customers is: understand the consumer behavior and craft experiences around it.

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