5 min read
Satya has a bike, and the insurance is getting due for the renewal process. Since he is very busy, he doesn’t have time to visit an insurance office. He came to know about the online renewal process and followed the instructions correctly, which helped him save time and effort.
Insurance is necessary for those who have two-wheelers not only because it a legal obligation but also because it helps to get financial protection against damage, accident, theft, natural calamities, etc. However, it is wise to choose the right type of insurance that caters to a person’s needs. One should always compare the policies online to get a more inclusive two-wheeler insurance plan at best prices.
1. No-claim bonus: Insurance companies offer a no-claim bonus feature for policyholders when they don’t claim amounts within a policy year. A policyholder can earn this bonus for every claim-free year, which gets accumulated over time.
2. Quick claims settlement: Having two-wheeler insurance provides ways to ensure quick settlements and an efficient claim process helping us save on time.
3. Add-on covers: Two-wheeler insurance policies come with add-on covers, thereby showing methods to get more protection. Some of them include personal accident cover, third-party legal liability, loss or damage due to man-made calamities, etc.
4. Peace of mind: Having two-wheeler insurance allows a person to ensure peace of mind from lawsuits and high legal expenses. It even helps to get compensation for the injuries caused by accidents and other mishaps on the roads.
Below are some key advantages of buying bike insurance plan online –
While buying a two-wheeler insurance plan, one should know about the types available in the market before investing money. Insurance companies offer two types of plans for two-wheelers allowing a person to select the best one accordingly. The options are third-party bike insurance and comprehensive bike insurance. Therefore, it is crucial to get the details of two-wheeler insurance plans offered by insurance firms in detail before proceeding.
Here we have tried to explain how to renew two-wheeler insurance online correctly. Customers can lower expenses when they renew an insurance policy as there are many competitors in the market offering plans at very competitive rates. Also when you choose to do an online renewal you can choose to do it instantaneously without putting an effort to visit the insurance provider’s office. So you do not procrastinate and avoid fines and penalties by getting the renewal done in time.
Step 1: A policyholder should visit the official website of an insurance company when he/she wants to renew his/her policy. Anyone who is not able to find the website can use a common platform that approves insurance payments.
Step 2: Policyholders should enter their vehicle details in the renewal form. Make sure that you enter the information correctly.
Step 3: After entering the details, a policyholder can check the free insurance quotes that will help choose the right one among. In addition, guidelines on how to pay bike insurance online are available for policyholders after comparing the quotes.
Step 4: In the fourth step, policyholders should fill their details under the ”owner details” section. This in turn will display the information of vehicles immediately.
Step 5: A vehicle owner should enter his/her previous policy details to make a payment online for another term.
Step 6: A policyholder can also choose to buy add-on riders that will help get advanced protection from potential risks.
Step 7: After filling in all the details, review the details for accuracy before proceeding with the online payment.
Policyholders should know the factors that can affect their bike insurance renewal online in detail. Some of them include a no-claim bonus, a two-wheeler insurance claim, and transfer of bike ownership. It is essential to know how to renew bike insurance online after expiry in detail. Having the correct type of two-wheeler insurance allows a policyholder to safeguard his/her bike from potential risks. Also, it enables him/her to minimize losses caused by accidents, theft, natural calamities, and so on.
Renewing two-wheeler insurance online is gaining popularity because of the ease of process. It is however crucial to follow the guidelines while doing a bike insurance renewal. You can always get expert advice from PayBima for smooth and seamless insurance buying experience.
Found this post informational? Browse PayBima Blogs to read interesting posts related to Health Insurance, Car Insurance, Bike Insurance, Term Life Insurance and Investment section. You can visit PayBima to Buy Insurance Online.
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PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
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