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Why you should look beyond premium while buying bike insurance

Team AckoJan 17, 2024

When it comes to protecting your bike against accidental damages or losses, you can’t take any chances. If you have to raise a claim, you need an insurance plan that offers more than just an affordable premium. In this article, we help you identify vital aspects of bike insurance and how the insurance premium is not the only important factor while purchasing insurance for your vehicle.

Contents

Essential factors to consider before buying two-wheeler insurance
In a nutshell
Frequently asked questions

Essential factors to consider before buying two-wheeler insurance

The cost of the insurance plan plays an important deciding factor while choosing an insurance plan over another. However, the premium is not the only factor that offers the right type of insurance plan for your bike. Here are some of the factors that you should consider apart from the bike insurance cost or premium.

1. Ease of buying insurance

The cumbersome task of filling different forms and submitting physical documents is one of the main factors that made buying insurance challenging. However, digital insurers such as ACKO offer a new and more straightforward way of buying an insurance plan for vehicles.

At ACKO, there is no paperwork or submission of physical documents to insure your vehicle. The entire purchase journey is through the digital ecosystem.

Get online and visit our website or download ACKO’s mobile application. Provide a few details of the bike, such as the model, date of purchase, location, etc. and details of the previous policy (if available) to insure your bike instantly.

Even if you have purchased or are planning to buy a brand new bike, ACKO offers insurance for brand new vehicles. Visit our website or mobile app to share a few details of your motorcycle and personal information to get an insurance quote for your vehicle without visiting our office.

2. Mode of communication

Insurance was traditionally challenging to understand. The jargon, complicated features and benefits, and various components that determine the premium are some of the most confusing and challenging terms you encounter.

New-age insurers such as ACKO provide information about their products and services in an easy to understand manner. The use of graphical illustrations, images, etc., to convey the features of the policy makes it easier to learn about the services and benefits of the plan.

Moreover, the digital revolution has enabled insurers to showcase their products through TV and social media advertisements. These representations of insurance products help you know about the highlights of the policy and understand the inclusions and exclusions of the policy before you make the right decision.

3. Claim process

The primary aim of buying insurance coverage for your bike is to get financial protection against accidental damages or losses. You are financially protected since you can recover your losses by raising claims. Your experience of filing a claim and the settlement process is crucial when you are scouting for the right insurance plan.

Previously or traditionally, raising claims against your bike insurance plan was a cumbersome task. You had to fill lengthy forms, submit supporting documents and depend on agents or probably visit the insurer’s office multiple times. However, that has changed for good.

Digital insurers such as ACKO have removed the task of filling forms and such cumbersome paperwork. There is no paperwork involved when you raise a claim against a policy you purchased from ACKO.

Simply visit our website or mobile app to raise a claim by answering a few questions about the damages, uploading pictures of the bike damages to submit your claim. We settle the claim within a few hours for minor damages, while significant damage we try to settle the claims within a few days.

4. Paperwork

Whether buying or renewing insurance policies or even raising a claim, the traditional method required you to answer several questions and a plethora of information through the paperwork.

You had to depend on agents to understand the contents of the application or form so that you could complete the task. Sometimes you may even make a mistake, and you may have to repeat the process of paperwork.

However, in this fast-paced world, you need your tasks to be completed almost instantly. Opt for digital insurers like ACKO for an effortless and hassle-free experience when buying, renewing, or raising claims. No paperwork is involved when you purchase, renew, or raise claims against ACKO bike insurance plans.

Our website or mobile app lets you buy, renew or raise claims from the comfort of an internet-enabled smartphone. There is no physical paperwork involved in the entire process. Provide a few details of your bike to insure it instantly. And, for claims, answer a few questions and upload pictures of the damaged vehicle to register your claim without filling physical paperwork. It is that simple.

Choosing ACKO offers you more than just low-cost insurance plans. Be it the services or insuring your vehicle, you don’t have to worry about paperwork apart from benefiting from affordable insurance plans.

In a nutshell

While the cost of insurance is an essential factor while insuring your bike, it is also necessary to look at other aspects such as the services, ease of insuring your vehicle, claim settlement process and customer service for a holistic insurance plan. Consider the above points before choosing the right insurance plan for your vehicle for wide-ranging benefits apart from low-cost insurance plans.

Frequently asked questions

Here are some common questions about bike insurance.

Why should I pick digital insurers such as ACKO to insure my bike?

When you choose ACKO, apart from low rates, you get to experience superior customer service. All processes related to insurance, including buying, renewing, filing claims are super easy and fast because of the robust digital ecosystem. There are no agents; hence, there are no commissions. Also, you get to interact with us directly without having to depend on middlemen. Because of the no-commission model and digital infrastructure, our operating costs are low. Therefore, we can pass on the savings to you in the form of low-premium bike insurance plans and focus our energy on providing excellent customer service.

How important is bike insurance?

Apart from the fact that bike insurance is mandatory as per law, it is a shield against financial loss in case of accidental damages to your bike. Insuring your bike or scooter offers you peace of mind knowing you are financially protected against repair costs arising from unforeseen circumstances.

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: