If you own a two-wheeler, you may be aware that you need to own bike insurance too. Third party insurance is mandatory for all vehicle owners as per the Motor Vehicles Act. Buying comprehensive insurance protects you financially in the event of an accident, vehicle damage or loss of vehicle. Today, you can buy insurance for your bike online. Just follow these below mentioned steps.

Step 1 – Research and compare

Before you buy online bike insurance, it is important that you compare the different insurance providers. You need to research about the reputation of the insurance company you are choosing, check customer reviews and find out the claim settlement ratio. You can find all this information on feedback forums on the Internet and the website of the insurance company. While doing this research, you must also check how much the different policies may cost you. It is better to select a policy that fits your budget and provides the type of coverage you need.

Step 2 – Go to the website of your preferred insurance provider

After finalizing your preferred insurance provider, you need to visit their website where you can begin the process of buying online 2-wheeler insurance. There’s a good chance that your preferred insurance provider may also be providing other types of insurance such as health, general and car insurance. You need to find the tab where you can purchase insurance for your bike and click on it.

Step 3 – Enter the details on the online policy purchase form

Once you are on the 2 wheeler insurance page, you can start filling the online form. You need to enter basic details in this form. Generally, you just need to provide your name, address and phone number in the personal contact details tab. Next, you need to provide your vehicle’s details – the vehicle registration number, the make, model, year of manufacture and type of 2-wheeler (whether it is geared or non-geared). After entering these details, you must click `Submit’. You will then be redirected to a new page.

Step 4 – Select the type of insurance policy you need and add-on covers

On this new page, you need to choose between a third party limited liability insurance policy and a comprehensive two-wheeler insurance policy. While the former policy is mandatory, it does not provide coverage if your own vehicle is damaged; the third party is the only beneficiary of the policy. It’s better to buy a comprehensive policy since it provides coverage to your own vehicle and person. You can also purchase various add-on covers (optional), providing additional protection, with a comprehensive policy. The comprehensive policy is more expensive than the third party liability version, because of the added coverage you get. But it’s never a good idea to drive on India’s treacherous roads without comprehensive cover.

Step 5 – Pay the insurance premium

This is the last step in the process of buying online bike insurance. Once you have chosen the policy and the necessary add-ons, you need to go to the last page where you can pay the insurance premium. The premium can be paid through your credit or debit card or through your Internet banking account. It takes a few seconds for the payment to be processed, after which you will receive a soft copy of the policy document in your e-mail account. A physical copy will also be sent to you via post.

In conclusion, the process of buying online bike insurance is very simple and straightforward. Buying the policy online can help you save a lot of money paid in commission to agents. You can find a policy that suits your budget and your needs and buy it instantly.