Your vehicle, whether a motorcycle, scooter, or electric two-wheeler, is an essential aspect of your life. Hence, it would help if you had your bike insured. The most effective way to safeguard your finances from harm brought on by casualties or even theft of your vehicle can be to purchase two wheeler insurance online.
What choices do you have if your bike insurance runs out?
Once the deadline for bike insurance renewal has passed, the coverage ends. Some options of the choices would be –
- Bike insurance renewal with your current provider.
- Change to a different insurer.
- Modify the current plan with add-ons and look for a multi-year policy.
How long does your bicycle insurance policy last?
If your policy ends, you could lose your legal rights and financial protection against third-party liability and also your comprehensive insurance, if you have.
The following could be some drawbacks of failing to complete your bike insurance renewal on time –
- Your insurer will not accept any claims against your coverage.
- You risk losing any accrued NCB if you don’t renew the plan within the allotted time.
- When a person rides without appropriate documents, they can be fined.
- Financial losses if your bike is stolen or damaged.
- Your insurer might raise the insurance policy’s price if there is a significant lag between expiry dates and bike insurance renewal dates.
- The policy may also need to be issued after an inspection.
Why should your bike insurance policy be renewed?
A comprehensive two wheeler insurance online can be a valuable financial defence against unintentional damage, car theft, and third-party liability. For your bike’s insurance coverage to remain effective, you must comprehend the significant advantages of renewing your policy. You can get the following benefits by continuing your bike insurance coverage on time*.
- Save money on maintenance costs.
- Utilise the advantages of the two wheeler insurance online plan.
- Protect yourself from mishap-related legal issues
- Prevent penalties
- Ride without stress
Ask yourself these questions while renewing the current policy:
- Should you opt for third party bike insurance or a comprehensive policy while renewing your bike insurance?
- Has your bike undergone any modifications, such as the addition of the anti-theft device?
- Do you need to update your personal information, including an incorrect name, phone number, or address?
- Have you told your insurer about any changes made to our motorcycle?
- Do you require additional coverage to supplement the primary plan’s protection?
- Do you have any rewards that you could use?
Advice on how to reduce your costs while renewing your two-wheeler insurance policy:
For other ways to save* money when renewing your two wheeler insurance online, use a digital insurance provider. A well-rounded insurance policy for your bike necessary to protect yourself from losses, theft, and third-party liability. Before making a purchase, make sure to read the terms and conditions. Also, make sure to renew the plan on time.
It’s essential to renew your two wheeler insurance online or offline, if you want to keep the benefits and rewards from your old policy and want coverage. Also, renewal is ideal for reviewing your existing policy or looking for better and more efficient plans. It helps to set reminders for timely payments to avoid your policy lapse.
* Standard T&C Apply
‘Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.‘
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply