3 Ways an Online Insurance Platform Can Benefit You

3 Ways an Online Insurance Platform Can Benefit You

Whenever we purchase our dream bike or car, one of the most important things to keep in mind is its insurance. Firstly, you can’t ignore it as it is mandatory by the law, and secondly, it protects your beloved vehicle from the untoward incident. 

We all know that purchasing vehicles takes a lot of hard work, persistence and dedication. The cost of car or bike insurance varies for every driver depending on the state they live in, their choice of an insurance company and the type of coverage they have. You can either go for car insurance online or offline, but purchasing it digitally is highly advisable due to the feasibility and perks that come with it. 

What is car or bike insurance?

A car or bike insurance online is an agreement between an insurance company and a vehicle owner wherein the vehicle owner will pay premiums, and the insurer covers loss or damage caused to the vehicle. As per the Government of India, vehicle insurance is mandatory regardless of whether it is a personal or a commercial vehicle. It ensures and fulfils the vehicle owner’s legal liability arising due to bodily injury, loss or damage caused to any third party or property. 

Should you purchase it online or offline?

Although your end product here, i.e. vehicle insurance, will be the same, going for insurance online is the best way to do so due to its perks and feasibility. Not only does it save you a lot of your precious time, but also money, fuel and energy as it saves you a short trip. 

In my experience, as I purchased a new car recently, I bought its insurance via the Bajaj Finserv application. I have been using this application for almost six months for all my digital payments. Instead of using too many applications for various kinds of payment, this single platform is easy to use. 


What are the top three ways an online insurance platform can benefit you?

  • Effortless

Gone are the days when people used to run from one place to another to get the best deals on vehicle insurance. So, if you plan to buy car insurance online or for your bike, there is no need to get out of bed. Instead, your vehicle is insured by just a few taps on your smartphone. 


  • No insurance agents

When you purchase your vehicle insurance online, it eliminates the need for an insurance agent. Now, we can easily compare various insurances on our smartphones and choose the most suitable one via our smartphone. And if, by chance, you are not able to understand any term, you can easily go on the internet to check its meaning instead of dealing with an agent time and again. 

  • Soft copy

When you purchase vehicle insurance online, you get your policy document on your registered email ID and phone number. This helps you to keep your documents safe for future reference. So, even if you lose your hard copy, you have the liberty to take the printout of the policy document as many times as you want.

Read Also: How to Develop Textbook Reading Habits Effectively?

How to buy car or bike insurance online from your smartphone?

As I had a very effortless experience with the application that I use, I’ll mention a step-by-step guide here.

  1. Download the ‘Bajaj Finserv: UPI, Pay, Loans’ application. It is available on the Play Store (Android) and the App Store (iOS).
  2. Sign up with your details
  3. On the homepage, you’ll see the ‘Insurance Bazaar’ section.
  4. Click on ‘Car’ or ‘Bike’
  5. Enter your vehicle registration number and city pin code
  6. Click on View Prices
  7. Choose the best, whichever suits you.


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