Two-wheelers are the most preferred modes of transportation. They are fast and save lots of time compared to bulky four-wheelers and other large vehicles. One can quickly skim through traffic. Owning a two-wheeler and using it regularly has its demerits. Two-wheeler riders are known to be the most vulnerable to accidents and fatality. While purchasing a two-wheeler, people consider several factors, including the mileage offered, design, and price. However, there are some more factors to consider while buying car insurance policy online. Some investment is mandatory to ensure the rider’s safety. This investment is known as two-wheeler insurance. It is wise to make an informed decision before investing in the right insurance policy.
What is a bike insurance policy?
In simple words, an insurance policy is an agreement between two parties, namely the insurance company and an individual. The insurer covers the damages caused to the two-wheeler by theft, natural disasters, and accidents. Owning an uninsured two-wheeler is illegal, which is why it is necessary to ensure the vehicles.
Purchasing bike insurance comes with a set of limitations. It involves a series of tedious steps like contacting an insurance agent, understanding the various policies, choosing the suitable one, buying it, and waiting for the documents to arrive through a courier. However, purchasing bike insurance online comes to the rescue. It has several advantages over proceeding offline. While buying bike insurance online, customers have the option of comparing several bike insurance policies while also saving lots of time.
Buying an efficient as well as budget-friendly bike insurance policy can be a menace. The best way to figure out the right one is to compare all the bike insurance plans available.
Reasons to compare bike insurance policy before zeroing down on one:
Besides the fact that customers save a lot of time, there are other significant reasons why customers must compare bike insurance plans. Here are a few:
The coverage offered:
When customers compare bike insurance plans online, they get a catalog of all the possible policies to make a choice. The coverage offered by each bike insurance policy differs based on the company. Here, the customers must understand their requirements and decide on a budget to allocate to their bike insurance. Applying these two filters makes it easier to filter out the bike insurance online, which is manually tricky.
It is advisable to determine the cover before proceeding to compare bike insurance online. Generally, bike insurance covers are either comprehensive or liability type. In the longer run, it is the comprehensive cover that comes in handy. It covers all the losses incurred by the customer’s vehicle irrespective of the source that has caused it. Again, the policies under these covers vary based on the company opted for by the user. Several companies offer add-ons that can enhance the efficiency of the plan.
The best insurer
Reliability is a crucial factor in any agreement. A company’s brand name plays a significant role in determining its reliability. When customers compare bike insurance online, they come across several potential insurers. A background check of social media profiles and customer testimonials and reviews can determine the reliability. These will speak a lot about the reliability as well as the reputation of the insurer.
Though the agreement is standardized, the add-ons vary depending on the budget and the company. Comparing the add-ons will give customers an extra set of benefits. The add-ons could range from offers and easy pickups to hassle-free customer care services and quick damage repairs. The web portals of major insurance companies have a rating system for their customers. Taking a look at these ratings is the right way of determining the efficiency of the insurance and the add-ons.
IDV stands for Insured Declared Value. It is the maximum amount that the insurer claims to release if the buyer loses his vehicle to theft or if the damages are beyond repair. Comparing the company’s Insured Declared Value helps the customers make a well thought and informed decision before investing in their insurance policy.
How to approach insurers?
Many insurers sell their insurance plans online. While settling the claim, it is the customer’s responsibility to meet and coordinate with the insurer. It may sound easy, is tiresome. It requires lots of off-shore effort. Customers may have to locate the center, coordinate with the agent and fix a time slot. After settling the claim, they may not find sufficient customer support from the company.
A one-stop solution to this is PayBima. PayBima is an insurance broker that helps its customers avoid these problems. It has tie-ups with several leading insurance companies. Agents at PayBima ensure their customers get support and the required help throughout their insurance policy tenure. They also ensure that there is unbiased guidance given to their customers during the time of claim. There are no hidden costs or quotations. In simple words, PayBima is a reliable insurance broker for bike insurance policies.