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Given the fact that there are plenty of options in the market, it is better to compare and buy a bike insurance policy online. When you compare bike insurance from different companies, you can know which policy offers the best coverage and has the most affordable premium.
Since you can purchase bike insurance online, comparing the policies is easy. However, if you are confused about how to compare, the following tips will be useful.
Many people tend to make insurance purchase decisions based on the premium alone. However, it is not the only factor to consider. When you compare bike insurance online, consider the coverage offer along with the premium charged for it.
You must also look for the additional built-in coverage offered by different policies and choose the one that has maximum coverage benefits. In a nutshell, buy a two wheeler insurance that offers extensive coverage at the lowest premium.
Add-ons or riders are additional coverage options that you can voluntarily add to existing policy by paying an additional premium. Add-ons allow you to extend the coverage of your regular bike insurance policy and get protection against specific risks that may not be covered otherwise.
So, when you compare bike insurance online you must find out which policy or the insurer offers the add-ons you want. If multiple companies offer the same add-on, compare the prices for it. The premium rates may vary, and you can choose a policy that has the lowest premium for the add-on.
Another important factor to consider while comparing bike insurance policy is the network of garages that the insurance company has. If you want to avail of a cashless claim benefit, you must get your bike repaired at the garage that has a tie-up with the insurer.
If the insurance company has a vast network of garages, finding one near your locality would be easier. Cashless claim simplifies the settlement process and the insurer pays the garage directly as per the policy terms.
Over the years, the insurance industry in India has evolved significantly; it has become customer-centric. Today, insurance companies are more than willing to offer customised services and plans to suit the customer's specific needs.
Today, as the insurance companies offer online services, there is 100% transparency in terms of the charges involved, premium rates, the processes involved and the services offered. So, when you compare bike insurance plans, look for an insurer that has a simple and hassle-free claim settlement process, needs minimal documents, and assures support at all stages.
We at Kotak General Insurance have built-in online customer support through chat where you can speak to our representative to clear doubts and seek help while choosing the right policy to suit your needs.
So, if you are a first-time bike insurance buyer or want to change your policy during renewal, consider the factors discussed above while comparing policies. This will help you make an informed purchase decision. Also, never forget to read the policy documents before you sign them.
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