Home / Two-wheeler Insurance / Articles / Easy Steps To Avail Two Wheeler Insurance Online

Easy Steps To Avail Two Wheeler Insurance Online

Team AckoFeb 27, 2024

The insurance sector has undergone significant changes in the previous two decades. The combination of the internet and smartphones has enabled the digitalisation of the entire insurance ecosystem. As a result, you can now insure your two-wheeler from your internet-enabled smartphones, laptops, etc., within minutes. Read ahead to learn about the easy steps to avail two-wheeler insurance online.

Contents

Steps to buying two-wheeler insurance online
Important post-policy buying information
Key takeaway
Frequently Asked Questions (FAQs)

Steps to buying two-wheeler insurance online

Follow these steps to buy a wide-ranging two wheeler insurance policy and stay financially secured against liabilities and damages.

1. Understand the need

Before beginning the process, understand why you need to insure your bike. Primarily, two-wheeler insurance (Third-party Liability Cover) is mandated by law. The Motor Vehicles Act, 1988 states that you must insure your bike before riding the two-wheeler on public roads. If you don’t, then it can result in monetary penalties and legal issues.

Also, an all-round cover (Comprehensive Bike Insurance) can help you out financially when it comes to repairing the damaged bike. Thus, there’s a definite need to insure your bike. Why do it online? Because it will help you save time to research, save efforts as it can be done at your convenience, and save money thanks to low premiums.

2. Know the basics

Bike insurance is no rocket science. However, there are certain terms that you need to be aware of before buying the policy. Acquaint yourself with common bike insurance jargons to understand the policy better and make an informed decision.

Also, it’s crucial to know that the Third-party Policy is a basic plan that covers third-party liabilities but not own damage. If you want to cover liabilities plus your own damage, then you need to opt for a Comprehensive Plan.

3. Compare different policies

A simple internet search such as ‘bike insurance online’ will give you a long list of results. It’s up to you to compare different plans and choose a suitable option. Make sure to compare two-wheeler insurance plans based on the offered coverage, available services, and the payable premium. Also, remember to compare similar types of plans. For example, don’t compare a Third-party Liability Plan from one insurer with a Comprehensive Plan offered by another insurer.

Note that as the premium for a Third-party Liability Bike Insurance Policy is stated by the Insurance Regulatory and Development Authority of India (IRDAI), it remains the same across insurers. But, the premium for a Comprehensive Bike Insurance Policy can vary. Also, if you pick add-ons (subject to availability from ACKO) with a Comprehensive Plan, you will have to pay more premium. Keep these things in mind while comparing plans to arrive at a fair result.

4. Finalise the insurer

Comparing and shortlisting different types of bike insurance policies is one piece of the puzzle. You also need to pick an insurer (for example, ACKO) from whom you will buy the policy.

Do check out offers, social media reviews, and the efficiency of the insurer’s claim settlement process before finalising the insurer. Once you are confident about your insurance provider, begin the online purchase journey.

5. Complete the purchase journey

Once you are confident about the insurer, you can visit their website or download their mobile app to buy their policy. Usually, the policy purchase process can be completed within minutes.

You simply have to share some details, pick the plan, and make the online payment. For example, there’s no need for physical form-filling or uploading documents while buying the policy online from ACKO.

How to buy bike insurance online from ACKO

It’s super simple to buy bike insurance from ACKO. You can complete the entire process in no time, as there’s no unnecessary paperwork. Also, ACKO’s zero-commission model makes the policy easy on the wallet.

Here’s an overview of the bike insurance purchase journey on ACKO’s website. It’s similar for the app as well.

Step 1: Visit www.acko.com and click on Bike.

Step 2: Enter your bike’s registration number and click Insure Now.

Step 3: Select the type of plan and the duration. For example, a Comprehensive Plan for three years.

Step 4: Edit the Insured Declared Value (IDV), if required.

Step 5: Add Personal Accident Cover if you don’t have one; it’s mandatory.

Step 6: Click Buy Now; share some details, verify your mobile number, and make the payment.

Step 7: Download your bike insurance policy.

Points to keep in mind while buying bike insurance online

Here are some vital things to know regarding the online two-wheeler insurance buying process.

Purchase bike insurance from a registered seller. For example, ACKO’s IRDAI Registration Number is 157.
It’s not compulsory to buy bike insurance from the bike dealer.
Make sure you are truthful when it comes to sharing details such as phone number, Postal Index Number (PIN) code, claim history, etc.
Read the policy document in detail, as it states the inclusions and exclusions of the policy.
Do include the Personal Accident Cover if you don’t have an active one that was purchased while insuring your other vehicle.

Important post-policy buying information

Here are three points that you need to be aware of after you have purchased the bike insurance policy online.

1. Verify policy details

Usually, you can download your bike insurance policy after a successful online payment. It can also be emailed to you in your registered email ID’s inbox. Verify if the details mentioned in your policy are correct.

Confirm details such as your name, bike’s registration number, type of policy, and the expiry date, along with other details. If there’s an issue, inform the insurer urgently. Genuine changes can be made in the policy document by a process known as a policy endorsement.

2. Timely renewal

All bike insurance plans come with an expiry date. Thus, to ensure continuous bike insurance coverage, you need timely policy renewal. It’s best to renew the policy two weeks before the expiry date to avoid last-minute hassles.

Failure to renew the policy can lead to several issues. For example, an expired Comprehensive Policy means no insurance. And no insurance means no financial support in case of bike damage. Besides, you can be fined for riding a bike without an active insurance policy. Also, if you injure a pedestrian or damage third-party property with your bike, it can lead to serious legal consequences.

3. No Claim Bonus

There’s also the bike No Claim Bonus component. If the gap between policy expiry and policy renewal is more than 90 days, then the applicable No Claim Bonus will reset. It means your applicable No Claim Bonus will be zero, which will surely hike up the renewal premium.

Key takeaway

Nowadays, making online payments to buy products and services has become the norm. Whether it is buying groceries or investing in mutual funds, everything can be done online. In such a scenario, why should insurance be left behind? If you are looking to buy or renew your bike’s insurance policy online, simply visit www.acko.com or download the ACKO app for a hassle-free insurance experience.

You can read the relevant information on the website and choose an appropriate plan. In case of doubts, you can connect with ACKO’s Customer Service. In case of further queries, you can write to [email protected].

Frequently Asked Questions (FAQs)

If you still have doubts about buying bike insurance online, here are some common queries associated with the topic for your assistance.

Can I make a card payment while buying bike insurance online?

Yes, in most cases, it’s possible to pay the bike insurance premium via debit or credit cards. Other supported payment avenues are net banking and mobile wallet.

Do online insurers charge less than offline insurers?

Usually, the cost of online bike insurance might be lower than offline bike insurance. For example, ACKO functions on a zero-commission model when it comes to buying bike insurance from its website or app. Also, ACKO’s online infrastructure reduces operational costs. Due to such factors, ACKO can offer low bike insurance premiums.

Can I buy online bike insurance on weekends?

Yes, you can buy online bike insurance all days of the week from ACKO. Also, there’s no time constraint. You can insure your bike at your preferred time.

Can I move to an online insurer from an offline insurer while renewing my bike insurance policy?

Yes, you can shift to an online insurer such as ACKO while renewing your policy. To do so, simply renew your bike insurance from ACKO before the expiry date.

Do I need to upload my driving licence copy or the bike’s registration certificate to insure my two-wheeler?

ACKO does not ask for a copy of your driving licence or the bike’s registration certificate during the online purchase process. Thus, there’s no need to upload the same while insuring your bike.

What do you mean by zero commission in online two-wheeler insurance?

There’s zero commission when you insure your bike online from ACKO’s website or mobile app. This means, there are no middlemen, and consequently, no middlemen commission. You are directly buying the policy from ACKO.

What parameters do online bike insurers take into consideration while pricing the two-wheeler insurance policy?

The bike engine’s cubic capacity is the foundational parameter for deciding the premium. After that, the type of coverage, bike’s age, IDV, etc., are also considered.

Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on industry experience and several secondary sources on the internet; and is subject to changes. Please go through the applicable policy wordings for updated ACKO-centric content and before making any insurance-related decisions. Explore More: