In India, many people rely on their insurance advisor or agent to purchase an insurance policy, and bike insurance is no different. However, you must know that the advisors charge a hefty fee for their services, which increases your overall insurance cost.
Today, as insurance companies offer online services, buying a policy has become easier than ever before. However, many people still hesitate to purchase a policy online mainly because they have many misconceptions and they believe in the various myths.
In this write-up, we will address the common myths associated with buying bike insurance online and shed light on the truth behind them.
You need to be an internet savvy
While it is true you must have basic knowledge of using the internet, and computer, you need not be an expert. Today, the insurance companies in India have made the insurance buying process simple for all.
To purchase a policy, you must visit the company’s website, choose a plan, submit an application form with relevant details and KYC documents, and make the payment to complete the process. It is that simple. Once the payment is successful, the insurer will send you the policy documents on your email.
Buying bike insurance online is expensive
When you buy a third-party bike insurance or a comprehensive policy online, you directly purchase it from the insurance company. Thus, buying insurance online may work out to be cheaper
Also, there may be special discounts on online insurance policies, which you may not get otherwise when you buy offline. To top it all, when you purchase a two-wheeler insurance policy, you need not deal with extensive paperwork or run around from pillar to post to complete the process; instead you can renew, raise a claim, from the comfort of your home with just a click of a few buttons.
Claim settlement process for online policy is complicated
The claim settlement process varies from one insurer to another, and whether you buy the policy online or offline, you must strictly comply with the process. If you have the necessary documents and follow the process correctly, you can get your claim approved without any hassles.
You cannot renew the policy online
The process you want to follow to renew your bike insurance policy is entirely your choice. Even if you purchase a policy offline, you can renew it online and vice versa. However, it is better to do it online. It helps save valuable time and effort, and you can also make informed renewal decisions.
If you feel another insurer is offering the coverage at a lower price or is offering better benefits, you can switch to a different insurer. Also, you can easily apply your accrued NCB (no-claim bonus) and get a valuable discount on the premium.
Buying bike insurance online is not safe
Many people believe that buying insurance online is unsafe and it can compromise their confidential data. However, the truth is the insurance companies spend a hefty amount on security measures.
The payment process is fully encrypted and all your data remains secure. However, to be safe, it is better to purchase a policy from a reputed and credible insurance company only, like Kotak General Insurance.
As stated above, these are only myths. So, don’t pay heed to any misinformation you may read online and buy your policy online without any hassles. At Kotak General Insurance, we provide complete assistance to our customers in choosing the right policy to suit their needs. You can reach out to our customer support representative through online chat or toll free phone number, and we would be happy to help you.
Disclaimer: The content provided is for education and informational purpose only, none of the information contained in our blog amounts to any form of opinion or advice. Please go through policy related documents carefully or consult an expert before making any insurance-related decisions.