If you are a two-wheeler owner, then you might be well aware that bike insurance plays a crucial role throughout. Without it, there is no point in driving your vehicle on the road. Moreover, in the current digital times, a simple insurance download app does everything for you. It is a quick and hassle-free way to buy your two-wheeler vehicle insurance.
Long gone are the days when people actually used to visit official sites physically in order to avail such insurance. Nowadays, your internet-equipped smartphone does all the work for you. So, if you are considering saving some bucks by not getting one, you are on the wrong track.
What is bike insurance online?
As the term implies, it is a type of insurance that offers financial protection against damage or losses that may occur to your two wheeler. It also includes third-party liabilities that may arise due to accidents involving your vehicle.
When it comes to such type of insurance, there are different types available such as third-party insurance, comprehensive insurance, and own damage insurance. Moreover, as per Indian law, third-party insurance is compulsory as it covers damages or injuries caused to third parties in case of an accident involving your vehicle.
This insurance needs to be renewed on an annual basis. The period for this insurance is usually for a year, and at the end of the policy period, one needs to renew it in order to enjoy the benefits. Therefore, keep in mind that it is essential to renew it before the term ends to ensure that there is no break in the policy coverage.
Why is bike insurance renewal online essential?
Renewing bike insurance ensures that you continue to enjoy the perks of insurance coverage for damages or losses that may occur to your motorcycle or third-party liabilities arising due to accidents involving your vehicle.
As per the law in India, as mentioned above, third-party insurance is mandatory. Therefore, renewing your bike insurance policy ensures that you are compliant with the law. This helps in avoiding any kind of legal hassles.
Renewing bike insurance via internet allows one to accumulate a no-claim bonus (NCB) for every claim-free year. It is a discount on the premium amount you can avail of during the renewal.
How to renew your bike insurance policy online in 5 easy steps?
The overall procedure of bike insurance renewal online has become super easy nowadays. If you have an internet-enabled smartphone in your hand with the right application downloaded in it, you are more than good to go. In my personal experience, I used the Bajaj Finserv application and believe me, it is super convenient to use.
- Download the application from the App Store/Play Store on your device
- Sign up with your mobile number
- After logging in, go to the insurance bazaar
- Tap on bike
- Enter the required details