Dos and don’ts of buying two-wheeler insurance online
If you own a two-wheeler, no matter what type, taking out a valid insurance policy is mandatory under the law in India. It provides financial coverage against physical damage to the vehicle in case of mishaps or accidents; a common occurrence gave the worsening traffic scenario in the country. And what better way than to take the online route. Right? But be careful of a few key aspects.
In today’s digital age when everything from clothes, electronics to flight tickets can be bought online why not an insurance policy for your two-wheeler? The online mode is time-saving, extremely convenient and above all cost-effective. Having said that, it is important nonetheless to be well-informed and buy the right plan. Read on for certain dos and don’ts to keep in mind before going ahead with the online transaction.
- Do Extensive Research:
For starters do a thorough research and learn the nitty-gritty of the whole insurance procedure. Also, scrutinize the terms/conditions and read the important details of the insurance policy to be aware of what is covered. Next use online portals to compare coverage’s, specifics, quotes, features, and discounts of various plans to snag the best deal.
- Ask About Add-Ons:
Look out for the right add-ons. Aspects of agency repairs, roadside assistance, towing services, accessories cover, the return of invoice value, pillion rider cover for co-passengers and more are add-ons. These can be extremely beneficial when taking out a two wheeler insurance online policy.
- Opt for Comprehensive Plan:
The insurance policies available for two-wheelers in India include the Third Party Liability Cover & Comprehensive Plan. The former (standard plan with lower premium rates) covers the damage to the third party’s vehicle, injuries sustained or demise of that person. The comprehensive plan, on the other hand, is a good bet given it is a complete package that encompasses third-party liabilities along with personal accident coverage.
- Don’t Focus on Low Premiums:
Don’t opt for the cheapest insurance plan as it is not always the best. Instead of focusing on low premiums, check out the features, scope of the coverage and policy inclusions/exclusions. All this will enable you to select a plan that is best for your specific needs.
- Don’t Provide False Information:
Deception is a big no-no. Be truthful when furnishing information pertaining to your two-wheeler. It is important to remember that background checks are conducted. In the event of false declarations being unearthed, the policy can be cancelled. Also, it may trigger disputes at the time of claims for any loss or damage incurred to the vehicle.
- Don’t Opt for Big Deductibles:
When it comes to voluntary deductibles, keeping an affordable amount is a smart option. While taking a higher deductible appears more attractive since it slashes the premium cost substantially, it is best sidestepped if you want to avail all the benefits of your policy and avoid monetary loss when the claim arises.
Buying a two wheeler insurance online can be a tad perplexing especially for a newbie. But the above dos and don’ts and a little caution can make the whole procedure easier.