Since the onset of digitalization, many things have become sorted in our lives. Be it ordering food, clothes, or investing money, everything is just a few taps away.
Recently, when I purchased the Skoda Slavia, my dream car, I was looking for car insurance online. Now, we all know that long gone are the days when we actually used to go to a company’s office to buy insurance. However, the internet-enabled smartphones in our pockets efficiently do it in just a few minutes.
Not only car but even bike insurance can also easily be availed via your smartphone only. It is a well-known fact that getting behind your dream wheel takes years of hard work and persistence, so protecting it should always be your number one priority.
What is car/bike insurance?
Car/bike insurance or auto insurance is a contract signed between an individual and the insurance company that protects them against financial loss in the event of a theft or an accident. So, here, the individual pays the premium, and in exchange, the company agrees to pay the losses as outlined in the policy.
Moreover, as per the Indian Government, auto insurance is mandatory regardless of whether it is a personal or commercial vehicle. This is because it fulfills the vehicle owner’s legal liability arising from bodily injury, loss, or damage caused to any third party or property.
(Pro tip: It is advisable to purchase auto insurance online only.)
What are the different types of car/bike insurance online?
1. Third-party liability insurance cover
This insurance policy covers third-party-related financial and legal liabilities arising due to an accident from an insured vehicle. It offers compensation in case of third-party death, injury, and third-party property damages.
2. Comprehensive insurance cover
It pays for the replacement or repair of vehicle damages resulting from an incident. This policy generally covers third-party liabilities, damage from an accident, fire, theft, natural calamity, etc.
What are the 5 Easy Ways to Get Insurance Online?
1. Properly assess your requirement
Before just going for any insurance, it is essential to know what you require. For example, suppose you are driving a luxury car; it is advisable to purchase comprehensive car insurance online.
2. Visit IRDAI
While you are on the hunt for auto insurance, visiting the official website of IRDAI (Insurance Regulatory and Development Authority of India) is highly advisable. This website has all the important information, such as the list of insurers, annual reports, public notices, press releases, penalties, and insurance laws, among others.
3. Look out for a discount
Don’t rush when you are going for it. Research first as car or bike insurance online provider offers deals and discounts from time to time. So when looking for it, make sure you are always on the lookout for these deals and discounts.
4. Keep your documents ready
To speed up the entire process, it is always good to keep your documents handy. Once you do this, everything else will seem to be a cakewalk.
5. Purchase online
One of the most effortless ways to purchase car insurance online is to buy from Bajaj Finserv. I am not promoting any brand/organization, but believe me, this application is the best go-to platform.