Difference between buying Two-Wheeler Insurance online and through an agent

Posted by Radhika Adsule on November 17th, 2021

As the world takes a digital turn, many people are relying on digital platforms for investment. It is easy to get information and compare different companies before buying anything, including Insurance. You can easily select your plan and provider, fill in the relevant details, and submit your form with documents online without physical visits.

However, some people still prefer buying Two Wheeler Insurance offline and directly from the company through their agents. They rely on the recommendations of the agents or brokers and invest accordingly. The following are some differentiation in the methods:

Online research vs advice

The greatest benefit of buying Bike Insurance online is getting complete information on the website or app. Consider some factors such as company reputation, customer service quality, claim settlement ratio, etc. In contrast, if you buy the policy from an agent, you opt for something they recommend without additional information to clarify your decision. Little research goes a long way in helping you make informed decisions and save money.

Direct transmission vs commission

There is a difference in the way you complete a transaction. When you buy a plan online, you pay the specified premium amount with no hidden costs. You quickly add or remove the riders. In many cases, companies tie up with banks and digital wallets to help you earn discounts and cashback.

You also get a discount for a Two-Wheeler Insurance renewal before the expiry date, thus making your premiums cheaper.An agent cannot make such offers, and you pay a commission for the services rendered.

Claim process

If you buy from an online General Insurance company, you upload all the documents on the portal and track your claim process from the website or app. Buying through an agent requires you to assemble all the documents and hand them over for completing the claim process on your behalf.

Accessibility

Another advantage of buying Two Wheeler Insurance online is that you access your company directly. Without the middleman, you get direct information with no scope for miscommunication. You can directly access the company without much delay during an accident, which is difficult through an agent.

Reduced fraud

When you buy Motorcycle Insurance online, you can read all the conditions before deciding the scheme. On the other hand, an agent may try to influence your decision because they receive a commission for selling policies to customers for completing the monthly target.

Reviews

While searching for an Insurance company online, you can check the testimonials section for the performance, claim receipt, and other factors. Many people post reviews and experiences of dealing with an online Insurance company. Unfortunately, it is not the case with agents where you rely only on word of mouth.