Impact of Technology on Purchase & Insuring of Two-Wheelers in India

Impact of Technology on Purchase & Insuring of Two-Wheelers in India

Impact of Technology on Purchase & Insuring of Two-Wheelers in India

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The Indian automobile market has picked up its pace since a few decades driving its sales numbers northbound, and there is no turning back since then. With international corporations tying up with the Indian manufacturers, it is a win-win situation for both the companies as well the buyers.

New untapped markets are opening for the manufacturers, whereas the buyers have a plethora of options to make a choice. Shifting trends from value economical options to other attributes like style, technology, performance are starting to gain importance.

A primary factor responsible for this change is digitisation. Digital media helps the buyer interact with like-minded people as well as with the brand. This is not only observed while buying bikes or scooter but also when purchasing two wheeler insurance online.

Impact on buying preference for two-wheelers.

The technology has seen an impact with consumer focus slowly shifting towards electric options. New entrants have brought innovative technology using battery-powered vehicles for the city as well as long-distance commutes. A similar trend is being observed in the car industry too.

For those still opting for conventional fuel-based options, international players are entering the Indian markets. Premium brands offer not just mechanically superior machines but also load them with a whole lot of electronics. This increases the desirability for such vehicles.

The on-board computer system is no less than a smart computer capable of helping the rider monitor every minute detail on-the-go. No doubt technology is driving the sales when you get such state of the art features at extremely affordable prices. Moreover, these bikes are also tuned to suit the Indian road conditions. While some may argue these changes are more cosmetic, that has seen to be a preference among the buyers.

Impact on buying insurance.

Beyond buying these two-wheelers, other compliances need to be followed like getting valid insurance. It is a mandatory requirement so that the buyer, as well as, any third-person involved in the mishap can be protected, both legally as well as financially. One can choose to insure their vehicle with a comprehensive cover to get that extra layer of protection from any damage or injury caused to oneself too.

With the increasing cost of bikes due to the loaded technology, it has become essential to insure these two-wheelers. Any damage to specific parts will put a hole in your pocket as the spares involve crucial sensors for the bike to perform optimally. Also, as more and more insurance companies are entering the market, there are myriad choices for the buyer to select suitable insurance plans. Don’t miss out on insuring these expensive machines as they cost no less than an arm and a leg.

Moreover, insurance companies are now not just offering insurance but also taking a step forward to educate the buyer on the various factors that influence their two wheeler insurance renewal or purchase. The focus has started to shift from pure business to imparting knowledge or consumer awareness.

To conclude, technology has influenced not only sales but also the need for an insurance cover for your prized possession. At such times, a two wheeler insurance premium calculator comes handy to get the right policy at the right price, just like your brand new bike!

Jocelyn Ian

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