Before you zero down on a bike insurance policy for your bike, you may want to decide how to buy it. Whether you’ll buy it online or offline? Let us highlight the benefits and significant differences of both these methods to make it easier for you to pick.
Advantages of online bike insurance
Online motor insurance comes with a slew of benefits such as:
One of the greatest benefits of purchasing bike insurance online is the chance to make a point-to-point comparison between insurance plans from different insurers. There are several motor insurance providers, and making a list of each product’s features for comparison is difficult and time-consuming. However, in the online buying process, you can use an insurance aggregator website to acquire information about various products offered by different insurers in a tabular manner, in one place, making comparison easier.
Do you know that when you buy bike insurance offline, you pay a higher price for the premium? That is because the agent’s commission is included in your motor insurance premium amount. However, there are no middlemen or intermediaries during an online purchase, and the money you pay goes directly to your insurer. This way, an online insurance purchase helps you save a significant amount.
Another benefit of making an online purchase is that there is little or no paperwork involved. You do not need photocopies of multiple documents for submission. Just go to the official website of your preferred insurer, navigate to the bike insurance section, share your details, upload a softcopy of a few documents, and get instant bike insurance.
Round the clock assistance
Why wait until the following day to get your queries answered when the solutions are right at your fingertips? Nowadays, bike insurance websites have a chatbot feature that solves your general queries in real-time. Apart from that, they also provide you with a toll-free number on their website, calling on which you can get 24×7 assistance. Let’s say if you are looking for Honda insurance for your two-wheeler, you can call their customer care executives, and they will help you select the right one. However, all these facilities are missing when you go for an offline motor insurance purchase.
One of the most common reasons people put off purchasing insurance is a lack of time due to their hectic schedules. The online option eliminates the need to take a day off from your office to visit an insurer or schedule an appointment with a motor insurance agent. Customers can get instant coverage via the website or mobile application from the comfort of their homes.
Advantages of offline insurance
Buying bike insurance offline also has a few pros that are listed below.
Understanding the provisions of bike insurance is sometimes tough. You may not feel confident relying on chatbots or motor insurance blogs available on the insurer’s website to make a purchase decision. Given this, many people still prefer a traditional insurance purchase as it allows them to communicate directly with an insurer’s representative or insurance agents. A one-on-one conversation is far superior to offline communication over the phone or chat when it comes to doubt clearance.
The traditional method of bike insurance policy purchase involves heavy paperwork. However, with the help of representatives or agents, the complex paperwork can be made easier. In an offline method, you get assistance for almost everything from filling out forms to submitting important papers.
Another benefit of offline purchase is door service. If you have a strong relationship with the insurer or the bike insurance agent, you may be able to handle everything from the comfort of your own home.
Online vs offline methods: Key differences
|Parameters||Offline Method||Online Method|
|Application process||You need to file a separate proposal form in addition to the application form.||All your details can be shared at once under one form.|
|Policy issuance||The policy is issued in 5 to 7 days, and if an inspection is required, the duration gets extended by a few more days.||If no inspection is required, the policy is issued immediately.|
|Policy renewal||The policy is renewed in 5 to 7 days, and if an inspection is required, the duration gets extended by a few more days.||If no inspection is required; the policy is renewed immediately.|
|Claim process||You need to visit the insurer’s branch to fill out an offline claim settlement form.||A self-inspection option is available, and you can raise an instant claim through the insurer’s app or website.|
Both online and offline methods have their own set of advantages. However, when you compare the two options, you will notice that buying bike insurance online is far better in many ways than buying motor insurance offline.