In the era of digitization, our daily lives have become extensively easy. Major tasks like funds transfer, business deals, etc. which took time and effort can now be done by the tap of a finger. Similarly, the variety of insurance policies offered and their service coverage can be easily purchased through websites. If that wasn’t convenient enough, a new method to purchase Bike Insurance through social media has come into action. That’s right, buying Premium Bike Insurance policy through WhatsApp
About Bike Insurance
- There are two major classifications of Insurance. They are Life Insurance and General Insurance. Life Insurance deals with premature death. General Insurance, on the other hand, includes home Insurance, Motor Insurance, Travel Insurance, Fire Insurance, and Health Insurance among others.
- Bike, two-wheeler, or motorcycle Insurance purchase is necessary to protect your vehicle from any financial harm with respect to damage, theft, loss, etc. depending on the premium policy purchased.
- There are three different types of bike insurance policies sold:-
Comprehensive Insurance Policy
This policy is a complete package (A.K.A. Package Policy). Comprehensive insurance policy, as the name suggests covers everything. It has a high coverage as it is inclusive of Liability Policy (given below) in addition to theft, and is not mandatory. This policy offers a list of add-ons that broadens the spectrum of the coverage offered.
Liability Only Insurance Policy
It has been made mandatory by the Indian Government under the law. It is also known as Act Only Policy. Liability Only Policy has a considerably high coverage; it ensures finances not only against vehicle damage, death, loss but also against bodily damage to a third party (that is in the case of having acquired the third party liability insurance) and the insurer.
Long Term Policy
This policy is offered for a long term period which can be for two or three years. Long term plans eliminate the need for renewing the policy every year and proves useful. The new vehicles need to mandatorily opt for the long term motor insurance plans at least for third party coverage.
There are specific motor insurance policies for commercial vehicles only.
It is to be noted that insurances do not cover all the different aspects of damages. Certain malfunctions that can occur in a vehicle are also usually not included. Do proper research before picking the right policy.
Given below are Exclusions that Bike Insurance Does Not Cover
- Electrical Breakdown and Mechanical breakdown
- Normal Wearing due to usage of the vehicle with usage.
- Damage due to accidents under the alcoholic influence is not covered, including loss.
- If there is an absence of valid license with the rider the two-wheeler is not insured.
- Damages pertained because of the war of any kind is not covered.
- The geographical region is specified, if there’s a loss or damage outside of this region it is not counted.
- Along with the region, all the purposes for the vehicle is also specified in the policy terms, in case an accident occurs because of an unspecified usage, it won’t be covered.
- All the valid claims will be mentioned in the policy, those that are not specifically mentioned will not be considered for claim settlement.
Three popular Add-ons Offered by the Comprehensive policy
- Zero Depreciation Cover
- NCB protect cover
- Passenger cover
Zero Depreciation Cover
Bikes often require a change or repair of certain parts due to wear and tear or accidents. In such a case, when a claim is paid, the insurance company does not include the cost of depreciation. This cost is borne by you and the claim that is paid is quite reduced. Zero depreciation cover helps in preventing this. It nullifies the effect of depreciation on the bike’s parts and the insurance company pays the entire cost incurred in a claim.
if the insurer has not raised any claims, it helps him obtain a premium discount. This premium discount is called the No Claim Bonus. The discount is then used while renewing the premium policy for the next term. This bonus, when accumulated, could go as high as 50%, but the accumulation of No Claim Bonus will be nullified if the consecutive years witness a claim. NCB protect helps protect this accumulation even if a claim has been made.
This add-on extends the personal accident cover to the pillion rider too. If the rider dies or becomes disabled due to an accident, the cover pays a lump sum benefit
How to Purchase a Bike or Two-wheeler Insurance via WhatsApp?
This first of its kind initiative service of selling and buying bike insurance online, over WhatsApp, can be utilized with these steps:
- Send a WhatsApp message or give them a missed call on the number specified by the insurance company. The message or missed call is received and your number is registered. Secondly, a WhatsApp chat invite is sent, which you are to accept and utilize by answering certain prerequisite questions asked about two-wheeler insurance plans and your criteria.
- You could also start the WhatsApp chat by tapping on the given link and sharing your number—wishpolicy.com/minsure
- The previous step lays out all policy plans and options that you could choose from as per your requirements. Once a policy fitting your needs has been recognized you could confirm the policy details and the policy coverage.
- Now comes the premium payment step; you will be directed to a secure portal by clicking on the payment link that is immediately sent after the confirmation of the policy type.
- Authorize your premium payment, after which new motorcycle insurance will be issued in your name. Simple as that
- This is swiftly completed as the technology-led service differentiator gives the user enough help for viewing, downloading and renewing premium receipt. Just make sure that all your details provided are valid and correct.
How to Renew Policy Two-Wheeler Policy through WhatsApp?
- Apart from the purchase of premium insurance policy renewing services are also provided. Not just that, one could also get their existing policy renewed too.
- The process followed is nearly similar to that of purchasing a new policy. You would have to submit your name, your Email ID, your vehicle’s particulars and go ahead with the premium payment and successful submission.
- One of the most important benefits apart from the convenience and easy is that you are allowed to put forth a renewal request even before the maturity of the policy.
Things to Keep in Mind While Buying Two Wheeler Bike Insurance Policy on WhatsApp in India
- If at all anything goes haywire during the process which is highly unlikely, then you could reach out to the respective customer care. The whole payment process is fairly simple step by step process that does not require any confidential data, for instance, your credit card number, etc. You will be directed to an online secured payment portal, much like other online transactions, we do in our day to day lives.
- The increase of digitization not just brings with its benefits but also its downsides. It is easier to scam people through the exact similar mediums and hence one’s apprehensions are understandable. But this process is completely safe and secure, companies responsible to manage the process have ensured to keep it transparent.
- Motorcycle Insurance has been made compulsory by the Indian Government under the law. Third-party liability insurance, in particular, is mandatory. Having motorcycle insurance at your dispense ensures financial safety and security, especially the Comprehensive insurance policy provides a huge coverage that will be of use during unforeseen emergencies. Comprehensive insurance coverage provides a huge umbrella of possibilities that are valid, it also provides repair-related expenses. The best benefit of all is the cashless benefit! Insurance companies have started offering cashless transactions this is incredibly helpful as you don’t have to bear the cost of repairs yourself. The company settles the claims on your behalf.
- The cashless facility can be availed in case of a claim only if you inform the insurance company and take the bike to a networked garage. The garage that offers this facility is included in the network list of the company. You can find out the details of the cashless garage by calling the company’s helpline number of locating it online. The company’s website lists the networked garages in your area and you can search the website for the same. Alternatively, the company’s claims handling department would help you with the garage details too.
Final Conclusion About Two Wheeler Bike Insurance Policy on WhatsApp in India
In conclusion, “Buy two-wheeler insurance policy on WhatsApp” is an innovative initiative. It raises the bar higher for an easier way to obtain one of the in-demand premium insurance policies as it is more frequently utilized. Acknowledging the growing usage of social media platforms and manipulating them to provide better services have been on the toll. Our awareness of procuring premium insurance policies and their necessities has dramatically improved since the last decade. Hence, many more people are moving towards purchasing such protection plans to safeguard their health, families, futures, objects, and properties. Get your bike insurance today, or renew it through the WhatsApp service