Many people are worried when it comes to doing online transactions. This is due to lack of awareness about such online platform and people tend to waste lot of time by shopping for various things offline. People are also generally afraid about the safety of the transaction, as the seller may not be authorized to sell such products. However, when it comes to buying insurance online, you need not be worried as everything is done as per the guidelines of IRDAI. The companies selling online insurance redirect the customers to the insurance service providers and they are having the necessary permission from IRDAI to sell such products. In this regard, you need not worry about anything when you choose bike insurance online as everything will be done on secured platform. Let us look into the detailed procedure of how to buy insurance online so that you can save both time and money in future.
Current situation of bike insurance buyers in India
There are lot of steps involved in buying bike insurance and most people visit the office of the insurance company to get the policy. This can be a time consuming process and you may not get the best deal in the first attempt. In that case, you may end up visiting multiple offices to get the suitable insurance policy for your bike. Even when you want to buy the policy from reputed service providers like National bike insurance, you may not find the office near to your place. Many people spend a lot of time in this process and they also have to wait for long hours at the insurance company office to complete the transaction. As most of the insurance companies are closed during weekends and general holidays, you have to take off from your working day to complete the process. The problem can become even more complicated if you are not residing in a metro city as many service providers do not have offices in towns and rural areas. Only few people are choosing the smart option of buying the policy online and most others are still using the conventional method to buy bike insurance.
Is online insurance different from conventional plans?
The bike insurance you purchase from online portals is no different from the regular plans you purchase directly from the insurance companies. Even when you buy bike insurance online, you will be buying the policy from the insurance companies itself and it will only be passed through the online insurance aggregators. The online companies in this situation act like brokers and they get some commission for selling the insurance products. From the customer point of view, the biggest advantage with buying insurance online comes with being able to choose from multiple plans which is not possible when you choose the conventional method of buying insurance. In the regular method, you will not get different plans in one place and you have to visit the office of the relevant companies to know about the plans and check the features. However, with online sellers, everything you need is available in one platform and you can select any company of your choice and buy it online to save time and money.
What are the benefits of choosing online insurance?
There are numerous benefits of choosing online insurance plans and you can see some of them listed below. This will not only help you to save time spent on the process but also money as you can get some discounts when you buy the policy through online sellers.
- Save time with online insurance
Normally, people spend close to a week when it comes to buying insurance directly from the insurance companies. This is due to the fact that you have to visit many offices before you can get some idea about the different plans trending in the market. You will be in a position to compare the plans in this manner and you can call the insurance companies to get the quotes for various plans. This can be completely avoided by choosing bike insurance online as you can get to see various plans in one place and you can conveniently compare and filter the options as per your individual needs. The comparison and other tasks can be completed within few hours and you can easily buy the policy in quick time through the online sellers.
- One stop solution for all information
When you visit the online portals that provide information about various insurance plans, you can get all the required information in one place. All you need to do is to mention your needs in the relevant columns and the suitable plans will be displayed in the list. You can then go ahead and compare the options and select the best one suited for your needs. After this, you can even get quotes for the selected plans and this completes your research required to buy the insurance plan. In this way, every information you need about the insurance policy is available on the portal.
- Easy to filter different options in market
With so many options available in the market, it can become a difficult task to filter the plans. However, when you choose the services of online insurance aggregators, it becomes easy to filter the options and you can get to see the features of various plans in one place. You can choose the suitable filter options provided in the portal and rule out the plans that are not suited for your needs. It is easy to select the plans based on your budget, tenure of the policy, sum assured and other aspects. In this way, you can arrive at the best plan that will do complete justice for your investment in the policy.
- Get free quotes for many plans
When you want to get quotes for policies from National bike insurance or any other reputed company, you need not visit the office of the service provider. All you need to do is to mention your requirement and personal details on the online portal that provides information about insurance plans. They will send the quotes from different companies as per your needs and you can compare them to choose the best option.
- Compare the features of different plans
It is also easy to compare the features of multiple plans when you choose to buy bike insurance online as all the information is available in single platform. Make sure to compare the sum assured amount offered from each plan and check the rates for each one of them. In the same manner, you can even check the added covers offered by the plan and select the suitable option for your two wheeler.
- Save money with online insurance
The major advantage you get with shopping online for insurance is that you can get good discount on the premium. This is usually available even for renewals and you can choose this option in future for the policy renewal. The insurance companies get added customers due to the efforts of such online brokers and they offer some discounts to promote the sales of insurance plans. When customers buy policy online, it will save the manpower required to process the application and the companies pass on the benefits to the customers in the form of discounts.
- Easy to buy insurance online
By providing your basic information, it is very easy to buy bike insurance policy online and you can save lots of time in this manner. The payment for the premium can be made through your online banking account and you can immediately get receipt for the transaction. After the insurance application is processed by the service provider, the formalities will be completed and they will send the policy document to your mail address.
- Easy to renew insurance online
You can even choose the online option for renewal of insurance plans and this will help you to renew the plans in a timely manner. Most people do not renew the policy on time as they are out of town or get busy with other tasks. However, with the online option, you can renew the policy from any location and this will help you to avoid further problems. The insurance policy will not lapse in this manner and you need not pay any penalty for late renewals.
Is it safe to buy online insurance in India?
After considering all the factors, it can be safely assumed that buying insurance online in India is very safe and you need not worry about anything when you choose reliable service providers. There are many online brokers who are authorized from IRDAI to provide such services and you can deal with anyone of them to buy bike insurance policy and other plans. The online brokers will only make it easy for you to search different plans and you will be dealing directly with the service provider when it comes to making payment for the selected plan. The payment will be processed online through secured gateway network and you need not worry about anything while using your online bank account to make the payment for the premium.
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