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How to renew bike insurance explained?

12 March, 2020

The term insurance means a financial cover or protection from financial loss. How terrible is the thought of damaging your new vehicle and realizing that it hasn’t been insured? The majority of the work-force in India today prefers a two-wheeler vehicle for commuting every day since it saves a lot of time compared to a four-wheeler. If you are one of those who commute on a bike every day, it’s time to get bike insurance instantly without any delay. Two-Wheeler insurance is compulsory in India, and it protects against unforeseen odds or accidents that can cause damage to your bike.


How to renew two-wheeler insurance?


Two-Wheeler insurance can be renewed in two ways. The first option is that the insured has to contact the insurance company directly. In this scenario, the policyholder needs to go personally to the office of the insurance company and make the payment of the fixed premium. The insurance company will give you a receipt of the payment with the renewed policy. The second option for renewing insurance is a more practical option which can be done in the comfort zone of your home or office. Since it’s a world of digitalization, it’s extremely comfortable and time-saving to make all the payments online by a bank transfer, debit card, credit card, etc.


How to renew expired two-wheeler insurance?


Your mantra in life should be to be safe rather than being sorry. It is absolutely important for you to renew your bike insurance well before the expiry of the policy to enjoy the continued benefits of insurance. Riding a bike with an expired insurance policy is not only illegal but extremely unsafe.


Wondering how to renew bike insurance online? The online renewal process is simple and doesn’t take a lot of your time. All you have to do is visit your provider’s website and fill in a form. You will need to enter details about your two-wheeler and previous policy, No Claim Bonus (NCB) details, etc. After this, you will have to make the premium payment. And there! Your policy will be renewed. No physical verification of your vehicle is needed if you renew your expired two-wheeler insurance policy online. The other benefits of online renewal are quick receipt of the new policy and no documentation.


It is possible that you are happy with your current insurance provider and don’t want to switch. If, however, you are not satisfied with your current insurance company, you can switch to another company at the time of renewal of your two-wheeler insurance. Simply visit the website of the company, fill in the typical form, and make the premium payment.


Why do you need two-wheeler insurance?


Bike insurance is important because even though a bike is the quickest mode of transport, it is also the most unsafe and leads to a lot of accidents. With a cover, you can ensure financial support for the losses that will occur after the accident/event. Moreover, the Motor Vehicles Act, 1988, makes it mandatory to have insurance for your two-wheeler. You can either visit a branch of your insurance company or simply log into their website to buy a two-wheeler insurance policy.


How to apply for bike insurance online?


It’s a world of the internet where everyone can connect easily through a click. Bike insurance is of two types, namely, a third-party insurance policy and a comprehensive insurance policy. Buying a bike insurance policy online is an easy process. You need to decide the policy keeping in mind the annual premium and benefits of the policy. You should also be aware of the hidden costs of the policy. Here’s a detailed guide that will help you apply for two-wheeler insurance online.


Step 1

The first step is to visit the website of the insurance company and check for the option of two-wheeler insurance and click on it.


Step 2

You will now be on the page of the provider and will need to fill in the required details in the online form like the type of vehicle, vehicle number, model of the bike. After this, you can easily calculate the premium.


Step 3

If you feel the premium is payable, then you can go ahead with the process. The next page will take you to a form where you have to enter your personal details like name, date of birth, contact details, address, and additional details of your two-wheeler.


Step 4

It is important that you read the policy documents thoroughly before accepting and clicking on ‘I agree.’


Step 5

Once you agree to the terms and conditions, the page will take you to the payment section where you will need to enter the payment details.


FAQS section


Can I change my two-wheeler insurance company?

Yes, you can definitely change your insurance company if you are not satisfied with their service or for any other reason. It is possible to change your provider before or after the expiry of your current policy. This is a simple process which can be done with basic documents.


Can I renew my current bike insurance online?

Yes, it is possible to renew your bike insurance or two-wheeler insurance online. It should be ideally done well in advance before the expiry of the current insurance policy. The process is straightforward, wherein you have to visit the website of the insurance company and fill in the details of the previous policy.


How do I renew my bike insurance?

You can easily renew your bike insurance by either visiting the office of your insurance company or by following easy steps online on the website of your insurance company. Log in to their website, fill in your bike and insurance details, and make the payment.


How to calculate the two-wheeler insurance premium in India?

Calculating insurance premium of your two-wheeler online is a simple procedure that takes a few seconds. Go to the website of your insurance company and search for an easy calculator in the sub-options. You are required to enter details like the brand of your two-wheeler, model, subtype, the city of residence, year of manufacture of the two-wheeler and enter a few other personal details. You will see the premium flashing on the screen in just a few seconds.