Best Insurance Policies in India
Insurance is a mutual agreement or a policy that a person purchases by paying premiums on yearly, monthly or quarterly basis to the insurance company. In return, the insurance company protects the policyholder from any kind of financial loss or risk that may occur in the future.Moreover, even public and private sector organisations can purchase insurance to protect their employees from unexpected financial loss. Therefore, it is a risk management where the insured person will get protection against possible situations such as loss, sickness, death, loss done to his/her belongings etc.
Here is a brief description about different types of insurance available in India.
Here are a few reasons why you should buy insurance online:
Here are a few reasons why you should buy insurance online:
A life insurance policy offers a dedicated sum of money on the demise of the insured or after a certain period of time. It is a kind of shared mutual bond between an insured and the insurer where you pay premiums on a monthly, yearly or quarterly basis to the insurance company. In return, the insurance company will cover you against unfortunate events such as loss or damage to you, your family members and property. The sum received from life insurance plans can be used as a security after retirement, protection against health care cost. However, life insurance policies do not offer risk coverage but come with a lot of benefits such as death benefits, maturity benefits and tax benefits. Life insurance falls under two major categories namely “Whole Life Insurance Plan” and “Term Life Insurance Plan”. And you can get tax benefits on the premiums paid and benefits received under Section 80C and Section 10(10D) of the Income Tax Act, 1961.
Here are the benefits of getting life Insurance policies
Also Read: Personal Loan Insurance Plans
The table below gives a comparison of key aspects related to the different types of life insurance policies in India:
| Parameter | Term Plans | Whole Life Insurance | Endowment Policies | Unit Linked Insurance Plans | Term Return of Premium Plans | Pension/Annuity Plans |
|---|---|---|---|---|---|---|
| Overview | Life Insurance at a Fixed Price for a certain Period | Protection for Lifetime, or coverage under the policy until you turn 100 years old | Protection plus returns that are assured to reach 6.5% | Investments across a range of asset classes plus protection (Market-linked, debt, money market etc) | At the conclusion of the Policy Term, paid premiums are returned. | monthly pension to cover post-retirement costs |
| Policy Term Range(in years) | 5 - 85 years | Until 100 years old | 5 years to 35 years | 10 years to 20 years | 5 years to 65 years | Entire life |
| Maturity Benefits | Only if the Return of Premium option is selected is the Maturity Benefit accessible. | Plan matures when you reach the age of 100. | Yes, when the policy's term expires. | Yes, when the policy's term expires. | Benefits of Survival on Maturity | regular earnings until "survival" |
| Death Benefits(to beneficiary) | Life Cover | Life Cover | Sum assured | Sum assured | Life cover | Offered by few plans |
| Ideal For People who want | Family financial security at a reasonable cost | To leave their family a legacy | Secure and assured return on investment for stress-free planning | A portfolio of investments with strong yields and life insurance | Life Insurance and a Guaranteed Benefit Upon Maturity | To guarantee retirement through a steady income. |
*Note – The term differs from plan to plan and the numbers mentioned above reflect an overall average.
Note: Need Urgent Funds? Apply Personal Loan with Buddy Loan
Mentioned below are some of the popular life insurance companies in India:
Here are the documents required to purchase a life insurance policy:
You can claim life insurance under two circumstances:
| Insurance providers | Term Plan | Claim Settlement Ratio | Maturity Age | Insurance Premium |
|---|---|---|---|---|
| Exide Life Term Insurance | Exide Life Elite Term | 98.54% | 70 years | Rs.451/month |
| Adity Birla Sun Life Term Insurance | ABSLI Life Shield Plan | 98.02% | 75 years | Rs.623/month |
| Bajaj Allianz Term Insurance | Smart Goal Protect | 98.48% | 85 years | Rs.616/month |
| SBI Life Term Insurance | eShield | 94.5% | 80 years | Rs.589/month |
| Reliance Nippon Life Term Insurance | Reliance Digi-Term | 97.71% | 75 years | Rs.623/month |
| Aegon Life Term Insurance | iTerm | 98.01% | 100 years | Rs.479/month |
| Canara HSBC OBC Life Term Insurance | iSelect+LumpSum | 98.12% | 99 years | Rs.480/month |
| Tata AIA Term Insurance | Tata Maha Raksha Supreme Lumpsum | 98.02% | 85 years | Rs.927/month |
| PNB Metlife Term Insurance | Mera Term Plan- full lumpsum payout | 98.17% | 65 years | Rs.500/month |
| Future Generali Term Insurance | Future Generali Flexi Online Term - Lumpsum | 95.2% | 75 years | Rs.486/month |
| India First Term Insurance | e-Term Plan | 96.81% | 65 years | Rs.422/month |
| HDFC Life Term Insurance | Life Option | 98.01% | 85 years | Rs.927/month |
| Edelweiss Tokio Term Insurance | Zindagi Plus + Lump Sum | 97.0% | 80 years | Rs.478/month |
| Aditya Birla Capital | DigiShield Plan | 98% | 73 years | Rs.612/month |
The key features of the term insurance policy are as follows:
| Parameter | Feature |
|---|---|
| Death benefit | The nominee gets a lumpsum predefined amount in case of the policyholder’s unfortunate death. |
| Liability coverage | Most of the term insurance policies today provide extensive coverage against various liabilities like loans, mortgage, etc. |
| Tax benefits | The policyholder can avail tax benefits against term insurance policy |
| Add-on covers | Most of the term insurance policies today provide rider benefits or additional covers like waiver or premium, extra payout on accidental disability/death, etc. |
| Maturity benefits | Policy holder can avail maturity benefits on policy with return of premium option |
| Multiple payment frequency options | Most of the term insurance plans these days give the policyholder multiple payment frequency options like single, half-yearly quarterly, etc. |
Health insurance gives you protection against the medical expenses incurred due to illness or accident, nursing care, surgeries, consultation, diagnostic tests, ambulance service, hospital accommodation, medical bills etc. So purchase a health insurance policy by paying a premium to your insurance provider periodically (monthly/yearly/quarterly). Therefore, the insurance company will take complete responsibility by protecting you against the expenses involved in medical treatment and some health insurance policies also pay for regular medical checkups. You can also get tax benefits on the premiums paid towards health insurance under Section 80D of the Income Tax Act, 1961.
Here are a few top insurance companies offering health insurance policies. The insurance companies have been ranked according to the Incurred Claims Ratio of every insurer. This is the ratio of the premium earned and the total claims incurred by the insurer. This ratio is used to determine how an insurance company is performing. A higher ratio means the insurance company has a good record of settling the claims they receive. So it is always better to opt for an insurance company that has a high Incurred Claims Ratio.
| Insurance Provider | Incurred Claims Ratio (ICR) | Claim Settlement Ratio | Key Features |
|---|---|---|---|
| IFFCO Tokio General Insurance | 99.49% | 99.71% |
|
| Bajaj Allianz General Insurance | 77.31% | 98.48% |
|
| Care Health Insurance | 55.15% | 96.2% |
|
| Navi General Insurance | 26.78% | 97% |
|
| Bharti AXA General Insurance | 65.37% | 99.05% |
|
Mentioned below are the different types of health insurance plans you can choose to meet your specific requirements:
The following are the documents you will require to purchase health insurance in India:
The following are the main benefits of being covered by a health insurance policy:
Cashless Treatment: You can get cashless treatments which means that you can get medical treatments without the need to pay the hospital bills from your own pockets.
Cover for Pre- as well as Post-Hospitalisation Expenses: Health insurance policies cover both pre- as well as post-hospitalisation costs for a period of 60 days before and after you have been hospitalised.
Transportation Expenses: Health insurance covers the costs incurred on using an ambulance for transportation from your home to the hospital or vice-versa.
Medical Check-ups: Many health insurance policies offer health check-ups for free. However, some insurance companies offer these check-ups for free based on your No Claim Bonus.
No Claim Bonus: If you do not make any claims for your health insurance policy over the course of an entire policy year, you will be rewarded in the form of a No Claim Bonus.
Room Rent: In case you are hospitalised, your health insurance policy will cover the costs of your room.
Tax Benefits: You can get tax benefits on the premium payments you make under Section 80D of the Income Tax Act for your health insurance plan.
Online Purchasing Facility: You can easily purchase a health insurance plan at the comfort of your home. So you don't have to visit your bank to get insurance.
Renewal: You can renew your health insurance policy online. You can change the terms of coverage based on your requirements.
Cover for OPD Expenses: You must be hospitalised for a minimum of 24 hours to be eligible for reimbursements of your insurance.
The following are the common mistakes to avoid when purchasing health insurance:
The top critical illness insurance plans in India are:
| Insurance Company | Plan Name | Features |
|---|---|---|
| HDFC ERGO | Critical Illness Insurance |
|
| New India | Asha Kiran Policy |
|
| Star Health | CriticCare Insurance |
|
| Bajaj Allianz | Critical Illness Plan |
|
Car insurance is important for all vehicles that run on Indian roads because potential accidents may occur that damage your vehicle. In such situations, a car insurance policy comes in handy as it will lower the costs incurred on repairing your vehicle or replacing its parts. Moreover, car insurance is designed to protect the owner of the car from unexpected financial loss when the vehicle meets with an unfortunate accident or is deemed lost. As accidents come in different forms, having a car insurance policy will provide you a comprehensive protection against unforeseen instances.
Here are the steps to renew your car insurance online:
Step 1: Visit the website of your insurance policy online and select the car insurance renewal section.
Step 2: Enter your details like name, date of birth, policy number, etc., and submit.
Step 3: Select the car insurance plan that you wish to buy.
Step 4: Choose the add-on covers if you want to purchase.
Step 5: The premium amount that you have to pay will be displayed on the screen.
Step 6: Make the premium payment using net banking, debit card, or credit card.
Step 7: Finally, your car insurance will be renewed after you make the payment.
Third-party car insurance covers legal liabilities that occur to a third party due to an accident. If you are the reason for the accident or injuries caused to a third party/ their property you will be covered by your third-party car insurance policy. Moreover, third-party insurance is compulsory under the Motor Vehicles Act, 1988 for those who purchase, own, or drive a motor vehicle in India.
If you want to get the best coverage for your vehicle, a comprehensive car insurance policy is the best option. The policy offers overall protection as it not only covers the expenses incurred on loss to a third party’s property, but also covers loss to your own vehicle due to an accident. Moreover, it covers for damages caused by fire, vandalism, theft, severe weather, and natural disasters and falling objects like the branches of trees.
| Benefits of Purchasing | |
|---|---|
| Third-party Car Insurance | Comprehensive Car Insurance |
| Offers financial assistance and legal cover | Highest level of protection |
| Provides peace of mind | Easier to replace your vehicle if it gets stolen |
| Simple and quick procurement process | Cover for damages caused by natural disasters |
| Cost-effective | Cover for damages caused by man-made disasters |
| Easily available | Lower legal liability |
Here is how you can claim your insurance for damage occurred to your car:
Step 1: As soon as you meet with an accident, you have to call your insurance company and inform them about the accident and the damages. You also have to submit a claim form along with necessary documents required by the insurance company.
Step 2: A surveyor/representative will be sent to assess the damage occurred to your vehicle. Then a report will be prepared and sent to the insurance company and a copy of the same report will be sent to you.
Step 3:After repairing your car, you will get back your signed claim forms and documents from the surveyor.
The car insurance claim process for a third-party claim is as follows:
Step 1:If you receive any legal notice from a third party, claiming reimbursements for damages caused by you, you have to first inform your insurance company about the incident. You have to first speak to your insurer before communicating with the third party or making any financial commitments to them.
Step 2:A copy of the legal notice should be sent to your insurance company.
Step 3:Copies of the FIR, driving license, and RC book of your vehicle should be submitted to your insurance company.
Step 4:The documents will be assessed by your insurance company and the details of the accident will also be assessed and if they are valid, the insurance company will appoint a lawyer for you
Step 5: If the court says that you have to cover the damages incurred to the third party, the insurer will make the payment to the third party.
The car insurance claim process for stolen car is as follows:
Step 1: If your car gets stolen, you have to first lodge an FIR by filing your complaint at the nearest police station.
Step 2: Then submit a copy of the FIR to your insurance company.
Step 3: Once you get the final police report, a copy must also be sent to your insurance company.
Step 4:If your claim is approved, you must submit the RC book of your stolen car to your insurer.
Step 5:Then, the car owner’s name will be renamed to the insurance company.
Step 6:You have to then submit your duplicate car keys to the insurance company along with a letter of subrogation.
Step 7: After the completion of all the procedures, your claim amount will be disbursed by the insurance company.
Here are the following are the details/documents required to send to your insurer when making a claim:
In case of damages, the following documents must be submitted to make a claim:
The car insurance policies have different coverage depending on the insurance company. So here are the most common inclusions and exclusions in car insurance:
| What is Covered (Inclusions) | What is Not Covered (Exclusions) |
|---|---|
| Covers for damages to your vehicle | Damages to vehicles when it was used for illegal purposes. |
| Covers for damages caused by natural calamities | Accidents that are fraudulent by the insurer. |
| Personal accident cover | Damages caused to the vehicle when it was driven by someone under the influence of alcohol or drugs |
| Covers for damages caused due to man-made disasters | Damages caused to the vehicle when it was driven by someone who does not have a driving license and is not above the legal driving age. |
| Theft | Damages caused to the vehicle when the driver broke traffic rules. |
| Damages to property | Damages incurred by the vehicle when the car insurance policy had expired. |
Here are the following add-on covers that you can purchase along with your car insurance policy to make it even more comprehensive and effective:
Zero Depreciation Cover: If you purchase this cover, you will receive a full claim on the expenses of the car parts replaced after an accident. However, this cover is provided only for the first three years from the date of purchase of your car. And as the vehicle ages, the premium for this cover gets steeper.
Roadside Assistance Cover:If you are facing an emergency when driving in a remote area, this roadside assistance cover will give you access to services that can fix your problems as soon as possible.
Personal Accident Cover: A personal accident cover gives coverage to the owner of a car due to accidents. If the owner of the car meets with an accident while driving, then 100% of the claim amount will be given to the individual in case of severe damage to limbs or death.
No-Claim Bonus:A no-claim bonus is like a reward for policyholders who do not make any claims for insurance over the course of a policy year. And this cover rewards them by offering discounts of up to 50% on the premium payment for the following year.
Engine and Electronic Circuit Cover:This add-on cover offers protection to the electronic circuits and the engine of the car. If there are any floods, the engine may fail if you keep trying to run it, and this damage is usually not covered by other regular car insurance policies.
Loss of Belongings: This add-on cover allows you to report claims when there is loss or theft of your personal belongings. For instance, if you leave your laptop or expensive equipment in your locked car and it gets stolen, this cover will pay you for the loss at least partly if not fully.
Daily Cash Allowance:If your vehicle remains in a garage for more than three to four days, then this daily cash allowance cover will help you pay for your transportation costs. However, this cover is not well known among Indian car owners as repairs usually take just a day or two.
Key Replacement:If you misplace or lose your car keys, having this key replacement cover will cover the cost of replacing the key. However, insurance companies do not cover the whole amount needed to replace the key.
Therefore, it is important to consider the above mentioned covers as they will not only come in handy when required, but will also lower the expenses you would have to incur if you did not have them. However, not all add-on covers will be beneficial for you, so it is suggested that you go through all of them carefully and choose the ones that suits your requirements.
A two-wheeler insurance policy is an agreement between an insurance company and an individual where the insurer covers for any damage incurred by a two-wheeler due to accident, natural disaster, or theft.
A two-wheeler insurance, also known as bike insurance. It offers protection against expenses that occur due to injuries to the rider and the pillion as well as third parties, depending on the kind of policy you purchase. Therefore, in order to purchase the best and low cost two-wheeler insurance policy with adequate coverage, it is important to compare plans between insurers.
| Two wheeler Insurance provider | No Claim Bonus | Claim Settlement Ratio | Cashless Garage | Third-party cover | Personal Accident Cover |
|---|---|---|---|---|---|
| Bajaj Allianz Two Wheeler Insurance | No Claim Bonus (NCB) benefits | 98% | Available | Available | Available |
| Reliance Two Wheeler Insurance | NCB benefits are offered in case claims are not made in the previous year | 98% | 1200+ | Available | Available of up to Rs.15 lakh |
| Liberty Two Wheeler Insurance | Discounts on renewal and NCB benefits | 91% | 4300+ | Available up to Rs.15 lakh | Available |
| IFFCO Tokio Two Wheeler Insurance | Discount of up to 50% provided on no claim benefit | 95.80% | 4300+ | Available | Available |
| Universal Sompo Two Wheeler Insurance | No Claim Bonus (NCB) is offered for claim-free experience if you opt for a comprehensive plan | 91% | 3500+ | Available | Available |
| Oriental Two Wheeler Insurance | For claim-free years, NCB is offered on the premium of the new policy | 89% | Available | Available | Available |
| New India Assurance Two Wheeler Insurance | No Claim Discount is offered at the time of policy renewal and this ranges from 20% to 50% | 90% | 1100+ | Available | Available |
| National Insurance Two Wheeler Insurance | No Claim Bonus is offered for claim-free years (ranges from 20% to 50%) | 86% | 990+ | Available | Available |
| Magma HDI Two Wheeler Insurance | No Claim Bonus is offered for claim-free years (as high as 50%) | 95% | 3300+ | Available | Available |
| Digit Two-Wheeler Insurance | Discount of up to 50% | 97% | 2900+ | Available | Available |
| Edelweiss Two-Wheeler Insurance | Discount ranging between 20% and 50% | 85% | 1500+ | Available | Available |
| Kotak Mahindra Two-Wheeler Insurance | No-claim bonus will depend on your previous claim history | 83% | Available | Available | Available |
| Navi Two-Wheeler Insurance | Option to get your complete No-Claim Bonus transferred post renewal | Contact the insurer | 900+ | Available | Available |
| Shriram Two-Wheeler Insurance | NCB up to 50% | 77.26% | 2000+ | Available | Available |
| Shriram Two-Wheeler Insurance | NCB up to 50% | 77.26% | 2000+ | Available | Available |
| TATA AIG Two-Wheeler Insurance | No-claim Bonus starting at 20% | 98% | 3300+ | Available | Available |
| United India Two-Wheeler Insurance | No-claim Bonus ranging between 20% and 50% | 83% | 750+ | Available | Available |
Now that you know about the subsidies offered by different states , then you should also know about the impact of GST on Bikes. So the next section talks about just that.
In India, it is illegal to ride your bike without a valid two-wheeler insurance plan. Two-wheeler insurance policies are designed to provide financial coverage against unfortunate events such as accidents that can damage the two-wheeler or bodily injuries to the rider, the pillion, or pedestrians, or damages to the property of a third party. Therefore, here are a few reasons why bike insurance is important:
There are two kinds of two-wheeler insurance policies, viz. comprehensive plans and liability-only plans.
| Comprehensive Insurance: | Third-Party Liability Insurance/Liability-only insurance: |
|---|---|
| A comprehensive two-wheeler insurance policy is highly recommended for all bikes though it is not mandatory. This plan offers overall coverage to the bike and its owner. Moreover, it also protects policyholders from legal expenses to third parties in an accident. | A third-party liability insurance plan offers coverage for losses or damage caused by the policy-holder to the two-wheeler of a third party or his/her property. Two-wheeler owners can also receive an add-on coverage in the form of a personal accident cover, but no coverage will be given for the theft or any damage. |
It is compulsory as per the law to have an insurance policy that covers third party liabilities at least. And this is according to the Motor Vehicles Act, 1988. Here, any third party involved in the accident will be given coverage under this policy. IRDAI usually evaluates the damages before approving whether the claim is valid or not.
So here are the following coverages for a third-party two-wheeler insurance plan:
| Third Party Insurance Coverage | Yes or No |
|---|---|
| Loss or damage incurred due to natural and man-made calamities | No |
| Any damage or loss due to theft | No |
| Personal Accident Cover | No |
| Any loss or damage to property owned by a third party | Yes |
| Any loss or injury to a third-party involved in the accident | Yes |
Third-party insurance covers any damages or injuries occured to a third party or third-party vehicle during the time of an accident. And any damage to property that belongs to a third party will also be covered under this policy. However, this policy does not cover any damages incurred by the vehicle of the policyholder. So you have to purchase an add-on coverage or a comprehensive motor insurance policy to get overall coverage.
A comprehensive insurance policy covers damage, loss, or theft of your two-wheeler. However, a comprehensive insurance policy is not mandatory to have. Here are the features of a comprehensive two-wheeler insurance plan.
| Comprehensive Two-Wheeler Insurance Coverage | Yes or No |
|---|---|
| Loss or damage incurred due to natural and man-made calamities | Yes |
| Any damage or loss due to theft | Yes |
| Personal Accident Cover | Yes |
| Any loss or damage to property owned by a third party | Yes |
| Any loss or damage to property owned by a third party | Yes |
| Any loss or injury to a third-party involved in the accident | Yes |
Comprehensive insurance policies do not cover any damages incurred due to electrical or mechanical breakdown or the wear and tear of the vehicle. And also coverage will not be offered if the vehicle is driven by someone without a valid driving license at the time of the accident. And damages occured while driving due to the influence of alcohol or any intoxicant will not be covered under this policy.
Unlike third-party liability only insurance, there are various add-ons you can choose to improve your coverage. Roadside assistance return to invoice, pillion rider, and zero depreciation are few of the popular add-on covers available. Although a comprehensive insurance policy is more expensive compared to third-party liability-only policy, the amount of coverage offered under this plan will help you save money in case you meet with an unforeseen incident. Therefore, comprehensive insurance policies are the best choice as the policy offers overall coverage when compared to third-party liability only policies
Here are the key features of a two-wheeler insurance policy:
You can choose the type of coverage you want, either from third-party liability only and comprehensive two-wheeler insurance plans. However, the Indian Motor Vehicles Act has made it compulsory for all vehicles to be insured by a liability only policy. Moreover, it offers coverage against wear and tear of your bike. So here are the factors that you must consider when purchasing a two-wheeler insurance:
Here are the benefits that you will get when you compare two-insurance policies offered by various insurance companies:
There are numerous insurance companies around the country that offer best deals and picking the one that satisfies your needs can be a tedious thing to do. So here are the elements that you should consider while comparing multiple two-wheeler insurance policies:
And here are a few things that you must check when comparing two-wheeler insurance plans:
There are two types of bike insurance coverage namely: comprehensive cover and third-party liability only covers. So majority go for liability only policies because it is mandatory under the Indian Motor Vehicles Act. However, a comprehensive two-wheeler insurance policy is a much better option as it has with many benefits. Therefore, when you compare policies, it is important to understand what kind of cover you require.
Insurance companies offer various add-on or or optional covers to increase the coverage provided by the base policy. These covers are additional features that take care of wear and tear of the vehicle. It also offers accident coverage for co-passengers, etc. Some add-on covers such as zero depreciation cover come in handy as you do not incur any extra costs on depreciation of parts of your vehicle.
Many bike insurance companies across India are very customer centric which means that they have designed numerous features and benefits that help customers to claim. For example, insurers have customer care support 24/7 which makes it easier for customers to get help at any time. The customer care support also helps you get the advice on renewals, claims, NCB transfer, etc.
As many insurance companies are customer-centric, their claim process is simple, and you can easily file claims without hassle. The entire claims process has a few steps such as intimating your insurance company about your claim, filing a FIR with the police station, transporting the vehicle to the garage, submitting the necessary documents along with the claim form, etc.
Insurance companies make it easy and simple for customers to renew their insurance policies online. And if your policy has expired and you do not wish to renew it, you can easily do it on the website of the insurance company from which you purchased your plan.
Insurance companies make it easy and simple for customers to renew their insurance policies online. And if your policy has expired and you do not wish to renew it, you can easily do it on the website of the insurance company from which you purchased your plan.
Some insurance companies offer discounts on online renewal, purchase of a policy using a credit card etc.
To check details of your bike insurance policy online, you have to visit the official website of the insurance company. You can check your premium amount by entering details of the two-wheeler such as the registration number, year the bike was manufactured, NCB, etc.
Majority of the insurance companies have their own insurance premium calculators which makes it easier for you to calculate the premium amount applicable to your bike. So all you have to do is check your premium online to make sure that your vehicle is registered with the Regional Transport Office, and your premium amount will be calculated by the system.
Comparing two-wheeler insurance plans online is simple. You have to just enter details regarding the two-wheeler, such as the make, model, the year it was purchased, the location of the RTO, etc. Once you enter these details, you have to ask for quotes and the insurance policies will be shown from top insurance companies.
The two-wheeler insurance policy will cover all the inclusions and exclusions of your bike insurance plan. So here are the inclusions of a two wheeler insurance policy:
Here are the general exclusions (which will not be included in the insurance coverage) of a two wheeler insurance policy:
| Two Wheelers | Premium |
|---|---|
| Not exceeding 75cc | Rs.482 |
| Exceeding 75 cc but not exceeding 150 cc | Rs.752 |
| Exceeding 150 cc but not exceeding 350 cc | Rs.1,193 |
| Exceeding 350 cc | Rs.2,323 |
You can renew your 2-wheeler insurance policy easily online. Insurance companies have their own websites where you can instantly login and renew your bike insurance policy. Moreover, many insurers also give options for mobile payment to make it more convenient for customers to renew their policies. And advanced insurance companies have their own mobile apps that make it simple for bike owners to buy and renew their policies online. So, here are the few common methods to renew your bike insurance policy online:
As the majority of the insurance companies have their own official websites, you can quickly log in to them and renew your bike insurance online at the comfort of your home. And all you need to do is make sure that you enter the right information about your policy as well as your personal details into the system. Keep the old policy with you when you are renewing it so that it will be easier to refer to details such as the old policy number. Once you renew your policy you can download a copy of your renewed policy in PDF format for future reference. If you want you can also take a printout of the PDF and keep it with you when you ride.
You can visit the nearest branch of your insurance company to renew your two-wheeler insurance policy. Though the process of renewing your two wheeler insurance policy physically at a branch is simple, it will take a lot of time. Also, remember to carry your old policy along with details of your vehicle so that you can easily fill out the application form. One benefit is that when you renew your insurance policy at a branch office, your new policy will be given to you immediately once the premium payment is made either by debit card, demand draft, or cash. However, if you pay your premium by cheque, it will take some time to clear your policy and it will be sent to your home address by mail at a later date.
Many insurance companies have either launched their own mobile apps or tied up with mobile payment vendors to make renewing your bike insurance policy as easy as it gets. You have to enter details such as your policy, name of the insurer, the policy number, etc. After filling in these details, you can pay the premium using net banking. Therefore, your bike insurance policy can be renewed easily and without any hassle.
Insurance is a mutual agreement or a policy that a person purchases by paying premiums on yearly, monthly or quarterly basis to the insurance company. In return, the insurance company protects the policyholder from any kind of financial loss or risk that may occur in the future. Moreover insurance helps to protect you and your family against unexpected events. It not only keeps you protected, it also gives you mental peace.
And it is important for senior citizens as a replacement for their income to support themselves and their family members. You can also use insurance to fulfill your investment goals and plan for retirement. It will take care of you as well as your near and dear ones by paying for their needs, even if you are not there.
Moreover, even public and private sector organisations can purchase insurance to protect their employees from unexpected financial loss. Therefore, it is a risk management where the insured person will get protection against possible situations such as loss, sickness, death, loss done to his/her belongings etc.
A two- wheeler loan is a type of personal loan that need not pledge any collateral. Availing one is easy – you can apply online – and you can use the money to meet almost any expense.
You can apply for a two-wheeler loan if you wish to purchase any of the below cases:
Getting approval on the two-wheeler loan online via Buddy Loan is easy.
Please keep the latest documents required by the lending company. The eligibility criteria differ marginally with different lenders.
However, most often the approval is mostly dependent on the credit history. The better the credit history, the quicker the approval.
With Buddy Loan two - wheeler loan, post submission of the application, the applicant will receive an acknowledge within 15 minutes.
Buddy Loan aggregator has the easiest application process for two-wheeler loan. However, the minimum salary required for the availing a two-wheeler loan is Rs. 20,000/-
To avail a two-wheeler loan, you only need to meet the basic eligibility criteria.
To avail a personal loan for two-wheeler, you will need to submit the following documents:
One can use the handy two-wheeler loan EMI Calculator to determine your monthly installments.
No, Buddy Loan does not have any pre-payment charges whatsoever.
The applicant can borrow up to Rs.15 lakhs without pledging any asset. You can repay your loan over flexible tenures ranging from 12 months to 60 months.
Buddy Loan aggregator offers two-wheeler loans with a range of attractive benefits including:
Complete the application form online and avail your two-wheeler loan now.
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