The process of purchasing an insurance policy was way different a few years ago than it is today. Ever since things have turned digital, you don’t have to worry about contacting an insurance agent and filling lengthy forms to buy an insurance policy. The traditional method is now modernized and you can instantly buy bike insurance online.
Nonetheless, you must be aware of the various aspects of your bike insurance policy before purchasing it online. Given below are 5 things you must check when you buy bike insurance online
- Correct Information
If you feel that even a single piece of information on the policy document is incorrect, you can contact your insurer directly and get the changes made. This includes your personal and contact information.
- Details of your Two-Wheeler
This section will contain the make, model, registration number, and other information about the bike. You need to ensure the details are correct because even a single error can cause trouble when the need to file a claim arises.
- Intermediary Information
You can purchase a two-wheeler insurance policy from brokers, car dealers, web aggregators, or even directly from the insurer’s website. If you go for the last option, i.e. if you buy bike insurance online from the insurer’s website, then it will be considered a direct purchase. But in case you buy the policy from an intermediary, these details will be mentioned in this particular section.
- Policy Details
This particular section will consist of your policy number, among other things, including your address and contact number. An important feature to check in this particular section would be the policy term, i.e. the start date as well as the end date of your two-wheeler insurance policy.
- Insured Declared Value and Premium
The Insured Declared Value (IDV) is the maximum sum insured of the two-wheeler. You will receive this amount in the event of total loss or theft. If you see a variance in the mentioned IDV, get it corrected. The IDV also plays a vital role in the calculation of the premium. Hence, it would be prudent to understand what is IDV in bike insurance
and ensure that these details have been mentioned correctly.
Today, most insurance companies don’t send a hard copy of your policy documents. This is ideal as the storage of physical documents can be cumbersome. On the contrary, you can now download the soft copy of your two-wheeler insurance policy directly from the internet once you’ve made the payment. You also receive the legal documents in your registered email inbox. And if you require the physical copy at all, you are free to take a printout of the same and keep it with you.
Make it a point to renew your two-wheeler insurance policy from time-to-time. There are many perks to buying bike insurance online. For starters, you get to understand if two insurers are offering the same coverage at different rates. You can make use of a two wheeler insurance premium calculator
to calculate the approximate cost of the policy and modify it as per your choice. Now, get two wheeler insurance premium quotes easily at home and make an informed decision.