How can I pay the bike insurance online

How to Pay Bike Insurance Online

Third-party vehicle insurance is mandatory by law for all two-wheelers in India. However going to an office to get your vehicle insured can be a hassle, especially since it can be easily done online in a few simple steps.

Let us explore how to pay for bike insurance online.

How to Buy/Renew Bike Insurance on the Moneyview App

Using the Moneyview app or website, you can buy or renew bike insurance online from the comfort of your home in a few simple steps.

Step 1: Download the Moneyview app and log in using your mobile number.

Step 2: Tap the “Buy Motor Insurance” icon and tap “Get Quotes”.

Step 3: Select “Bike” on the next screen.

Step 4: Type in your bike’s registration number and proceed by tapping “Check Premium.”

Step 5: Compare and pick the policy you prefer and tap “Buy Now”.

Step 6: Enter previous policy details if any, and nominee details.

Step 7: Complete the KYC

Step 8: Make the payment.

And you are done! You have purchased insurance for your bike.

Types of Two-Wheeler Vehicle Insurance

Two-wheeler insurance covers you and your vehicle against damages or third-party liabilities. Let us look at the three types of bike insurance policies.

Third-party insurance

Own damage insurance

Comprehensive insurance

Third-party bike insurance is mandatory by law.

Not mandatory by law, but is recommended.

Not mandatory by law, but recommended.

It covers damages or injuries caused to third parties.

Covers damages caused to your bike including accidents, theft, and calamities.

Covers both third-party liabilities and damages caused to your bike.

Third-party insurance does not cover damages caused to your bike.

Own damage insurance does not cover third-party liabilities.

Comprehensive insurance provides complete protection. 

Low premium costs set by IRDAI.

Moderate premium costs.

Premium costs are high but offer broader coverage.

Why Should You Buy/Renew Bike Insurance?

Buying or renewing bike insurance is important for many reasons:

Legal Defense: If you are ever involved in a legal dispute over an accident, your insurance policy will cover the legal costs.

Affrodable Protection for Your Prized Ride/Drive

To know more bike insurance articles here:

Conclusion

Bike insurance protects you from suffering significant financial losses in case of accidents or other unfortunate incidents. With third-party insurance being a legal necessity there is no reason to delay insuring your vehicle.

Now you can buy or renew your bike insurance in a few easy steps on the Moneyview app.

How can I pay the bike insurance online Related FAQs  

You can pay for your bike insurance online by going to your insurance provider’s website, entering your policy details, and choosing the premium amount. You can make the payment with UPI, credit/debit card, or net banking.
Yes, it is safe to pay insurance premiums online. Insurance purchased online is considered legally valid by IRDAI.
Insurance providers usually offer a grace period of up to 3 months with or without late charges. You can contact the customer service of your insurance provider to know about the grace period.
No, you cannot opt for only own damage cover. You must have a third-party bike insurance policy as it is legally mandatory for all motorbikes in India.

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