Welcome to all of you on your favorite blog. In the previous post we had known that "How to get the best car insurance online. Today we will know in this post, "How to get bike insurance policy online". So let's know.
In this article, we will explain how to take insurance for a bike from Policy Bazaar. The process of bike insurance on Policy Bazaar is basically available to you in English, here we are explaining it in Hindi.
Also, screenshots of each step have also been given.
What type of insurance policy can be purchased from Policy Bazaar?
PolicyBazaar is an insurance web aggregator that features, compares, and compares insurance plans from various insurance companies and provides links to purchase policies.
You can buy two types of two-wheeler insurance policy (2 Wheeler Vehicle Policy) through the website of PolicyBazaar.
· Third Party Insurance |
· Comprehensive Insurance |
With third-party insurance, you get protection from your vehicle in case of damage to any other person or property.
The insurance company pays the damages for that loss. The insurance company also bears the burden of legal claims.
But, in this case, you do not get any damages or compensation for the damage caused to your own vehicle.
Comprehensive Insurance | Comprehensive cover
With Comprehensive Insurance, you not only get the benefits of Third Party Insurance, you also get compensation for the damage caused to your own vehicle.
It provides you with comprehensive cover in the event of an accident. Since it gives more protection, its premium (insurance premium) is also higher.
Give priority to comprehensive insurance
Third-party insurance is mandatory for every vehicle holder in India. Whether two-wheeler or four-wheeler or commercial vehicle.
Read Also: How to Get Best Car Insurance Online 2022
However, it is better to have comprehensive insurance, as it covers the damage caused to your vehicle by others as well as the damage caused to your vehicle.
How to get bike insurance from policybazaar.com
You can follow the steps mentioned below to ensure the bike through policybazaar.com. Even if the bike is not there, then you can get information about the insurance plans of various insurance companies here.
Step 1: Open the website, Policy-bazaar. Its link is www.policybazaar.com. On the homepage of the website, you will see boxes with links to various types of insurance products. As if-
· Car Insurance
· Term Life
· Health Insurance
· Zero Commission Investment
· 2 Wheeler Insurance
· Travel Insurance and so on.
Out of these, click on the box with 2 Wheeler Insurance. By the way, the link to Two Wheeler Insurance is present in the top bar. (see picture below). You can use either of the links.
Step 2: On the next page, you see three options to get Bike Insurance (see picture below)-
Knowing the number of the bike, you can use the first option. In this you have to enter the number of your bike inside the box.
If the bike number is not known, you can use another option. You have to click on Proceed without Bike Number.Brand New Bike? Click here to click.
Here we are using, for example, the first option, in which we know the number of the bike. Enter the bike number and click on the green box on the right (where Get Quotes is written).
Step 3: On the next page, you are asked to fill in some information related to your bike and previous insurance, such as-
· Registration Number (registration number of bike).
· Manufacturer (which company the bike belongs to)
· Model And Variant
· Registration Year
· Previous Policy Details (Which company is the bike's previous insurance provider)
After filling in all this information, you have to click on the box at the bottom (View Quotes).
Step 4: On the next page, you have to tell that your previous insurance policy is still going on, that it is over.
· If the previous insurance policy has expired then click on the Expired button
· If the previous insurance policy is in force, then click on the button of Not Expired
Here we choose the first option (Expired) for example. As soon as you click on it, three options appear in front of you.
Expired within 90 days: If the previous insurance policy has expired within the last three months, then click on the circular box next to it.
Expired more than 90 days: If more than 3 months have passed from the previous insurance policy, then tick the circular box created before it
I am not sure when it expired: If you do not know the date of expiry of the previous insurance policy, tick the circular box made earlier.
Step 5: In the next step, you will be asked whether you want to get Comrehensive Insurance that only Third Party Insurance. (About third party insurance and comprehensive insurance, we have given information at the beginning of this article.) Suppose you have opted for comprehensive insurance.
Step 6: On the next page, the list of insurance plans of many insurance companies and the premium to be paid for them starts appearing in front of you. You can choose the insurance plan of your choice from these.
Step 7: On the next page, you have to fill some information about yourself and your vehicle, such as-
· Vehicle Owner's Name: Vehicle Owner's Name
· Mobile No: Your mobile number
· Email Id: Your email ID
· Communication Address: Correspondence Address
· City and state name, Pincode number
After filling in all this information, click on the button below (Continue to Step 2)
In the next step, you have to fill in the following information-
Name of the nominee: The name of the person who gets the benefit of insurance on the death of the insured
Relationship with Nominee: As Nominee has made his wife, then select Spouse
Nominee Age: Select the age of your nominee at present
Is your car on finance?: If yes, then tick (Yes); if not, then tick (No)
After this, click on the button below (Continue to Step 3).
In the next step, you have to fill in some information regarding the vehicle and the previous insurance policy- such as.
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Vehicle Registration Number, Engine Number, Chassis Number, Registration Date, Manufacturing Date, etc.
Name of the previous insurance company, previous policy number, its expiry date, and the status of No Claim Bonus during the previous policy, etc.
Note: Fill in the percentage (%) of No Claim Bonus (NCB) exactly. If the information is found to be incorrect, the insurance company may later reject your claim.
After this click on the button save & proceed, sent below.
Similarly, follow the steps as per the instructions available on the website, and your bike insurance process will be completed in a few minutes.
Keep one thing in mind here, the premium that will be fixed for your bike insurance policy will be decided according to the main insurance policy as well as other facilities (Add-Ons) being taken. Also, many things related to the vehicle and vehicle owner also affect the premium amount. We have mentioned them further-
How do bike insurance premiums vary?
How much will be its premium (insurance installment), it depends on the following facts-
Make and model of your vehicle: Your insurance premium varies depending on the brand and model of the vehicle.
The engine capacity of the vehicle: The higher the engine capacity (CC) of the vehicle, the higher will be its insurance premium.
Insured Declared Value of your vehicle IDV: The older your vehicle, the Insured Declared Value. Market Value. That would be less. The lower the IDV, the higher your premium.
Whether there are additional security measures or not:If you have installed the safety equipment of the vehicle, then its insurance premium will be less. Such as anti-theft device .anti-theft device.
Previous Driving Record of Vehicle Owner: If your vehicle has been causing frequent accidents in the past, then its insurance premium will be higher.
Vehicle Use (Personal or Commercial): Two-wheelers are also now in commercial use. The insurance premium for a commercial use vehicle tends to be higher than for personal use vehicles.
Interval of premiums (annual or multi-yearly):The more years you get vehicle insurance for a lump sum, the cheaper its premium is to you.
Buying policies online or offline: By buying insurance online, you are saving from various commissions. Hence, online insurance tends to be cheaper as compared to offline insurance.
Insurance Company Bonuses or Discounts: Insurance companies announce bonuses and discounts in different seasons. Before buying auto insurance, you can get yourself insured for a little cheaper by doing a little research.
No-Claim Bonus: If you have not claimed any type of insurance during the previous whole year, then in the next year's auto insurance, you get the benefit of the No-Claim Bonus and the insurance is cheaper.
Add-on Covers: If you add add-ons for certain types of covers with your insurance policy, then the premium also increases accordingly. Such as personal accident insurance, zero depression, etc.
Deductibles: The part that the bike is ready to pay for its repair in case of damage in an accident is called Deductible. The higher the deductible you agree to, the lower will be your premium.
We are sure that you will like this information very much. Do share this blog with your friends for more such information. Thank you.