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Two-wheelers are among the most widely used vehicles in India. This may be due to its affordability and the fact that it may prove to be one of the most practical forms of transportation, particularly in cities with heavy traffic. Given that having third-party two-wheeler insurance at the very least is required in India, having two-wheeler insurance helps you stay protected from potential losses and damages in case of bike mishaps, as well as keeps you in the good graces of the law and ensures you don’t need to pay any hefty fines for not having one. It also offers you several two-wheeler insurance benefits.
What If Your Two-Wheeler Insurance Is About To Expire?
It is crucial to keep your bike insured throughout its life because it enables you to stay shielded from any hefty costs that may follow any unfortunate events involving the vehicle.. Here is what you may expect if you let your two-wheeler insurance lapse.
Pay The Losses And Damages Incurred
You will be responsible for covering any losses and damages if your two-wheeler insurance has expired and something unfortunate occurs after that date. Even if you don’t use your two-wheeler for a considerable duration, it could still sustain losses and damages from natural disasters, theft of the entire bike or individual components, collision damage from objects hitting the bike while it is parked, etc.*
Fined By The Traffic Police
If the police discover that you have not renewed your two-wheeler insurance, you will be fined between Rs 1,000 and Rs 2,000. It costs less than that to cover it, starting at Rs 750 (depending on the type of two-wheeler you have).*
No Claim Bonus Lost
You would forfeit your no claim bonus, a bonus you earn on your policy if you have not made any claims during your policy duration, if you fail to renew your insurance on time. This implies you won’t receive two-wheeler insurance renewal concessions on your bike insurance. A two-wheeler insurance premium calculator is an easy-to-use tool to determine the premium you need to pay.##
Repeat The Inspection Process
An inspection process must be completed before you get a new policy after having failed to complete policy renewal on time.*
How To Renew Expired Bike Insurance Online?
The requirements for renewing a two-wheeler insurance policy are more relaxed than five years ago. A multi-year two-wheeler insurance policy is another option, allowing you to buy coverage for three or five years.*
Here’s how to renew your bike insurance online if your current or previous policy has already expired or is about to:
- Visit the page of the insurance provider for renewal.
- To continue, fill out your two-wheeler information and press the “Get Quote” button. Make sure you have provided accurate and current information.
- You can choose between a Third-party policy and a Comprehensive policy.
- Choose the appropriate two-wheeler policy add-ons(optional).
- Share the necessary information, and make the payment.
- Your policy will be activated after the payment is made, provided all the requirements are met. You will receive a digital copy of the policy in the form of a PDF. *
* Standard T&C Apply
## All savings are provided by the insurer as per the IRDAI-approved insurance plan. 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.
