Top Benefits of Comprehensive Online Bike Insurance Policy

Two-wheelers are convenient vehicle options for short travels. But with conveniences come certain risks and uncertainties. You cannot negate the risk of road accidents. Maintaining a valid two wheeler bike insurance policy provides a solid safeguard against such unfortunate circumstances. Not only because it is a legal compulsion, but it is necessary to maintain a bike policy for your own good. You can easily compare insurance online and avail yourself the best.

Types of Bike Plans

There are two types of bike insurance policies

  1. Third-party policy
  2. Comprehensive policy

The third-party plan covers the liabilities for all the injuries, loss and damages done to any property or person by someone else’s vehicle. But it does not offer any personal coverage. Therefore, it serves no good in respect of protecting the vehicle.

A comprehensive insurance plan covers personal damages, loss and even offers protection to your vehicle. In case of any damage or loss due to natural calamities, man-made incidents or loss, theft, this plan offers coverage.

However, you may or may not opt to buy a comprehensive plan, but maintaining a third-party policy is mandatory from the legal perspective.

Benefits of Buying a Two wheeler Bike Insurance Policy

  1. Protects your vehicle from damages and losses due to manmade activities including, riots, theft, etc.
  2. Covers the damage/loss of your vehicle because of natural calamities like earthquakes, floods, hurricanes, etc.
  3. Bears all the associated expenses incurred during damage repair of the insured vehicle. In case of absolute loss or irreparable damage, you can claim for the IDV.
  4. Offers coverage for personal injuries, as per the rider of the plan. It also covers medical expenses in case of an accident.
  5. There is the facility of coverage to death and disability, that covers the medical expenses of the rider during an accident with the concerned vehicle. Moreover, it also offers financial assistance in case of partial or total disability of the rider because of a bike accident. The nominee will receive the death benefit if the rider dies.
  6. It also encompasses all the benefits of the third-party plan.

Buying or renewing a comprehensive two-wheeler bike insurance is just a matter of minutes nowadays. Purchasing online bike policy has become the new trend.  Moreover, the outbreak of pandemics has popularized it even further.

Benefits of Online Bike Policy

  1. Minimal paperwork : Online bike policy requires minimal paperwork and follows a very simple procedure. The payment options are also secured, involving nominal risk. The entire process is quite user-friendly and hassle-free.
  2. Comparison : Compare insurance online with several plans of different companies on the internet and choose what works best for you.
  3. Discounts : The customers enjoy certain special discounts and rebates for online purchases. This makes the plan further cost-effective. Compare insurance online to settle for the best.
  4. Easy renewal : You receive signals before your due date so that your policy renewal turn never misses its chance.
  5. Amendments : You can flexibly make the necessary amendments by fulfilling an endorsement form digitally.

Although the online medium is simple, you have to keep an eye open for fraudulent messages and offers. After each payment, you have to ensure to keep the receipt for better tracking and avoiding any future obligations.

Jul 14, 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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