All about Two Wheeler Insurance Renewal Online
There are many modes of transportation, but yet two wheelers are considered the most convenient options, especially in traffic.
Before riding, every bike rider should ideally be aware of all traffic rules, check the speed limit, wear a helmet and get the required two-wheeler insurance for his/her vehicle.
Whether you’re buying a new one or getting an old one renewed soon, at least having a third-party two-wheeler insurance is mandatory by law.
Why Bike Insurance Renewal Online is a better idea?
A Bike Insurance Policy may offer protection against damage, theft, riots and strike, terrorism, and other natural calamities. Continuing the insurance cover of your bike beyond the date of expiry of the policy is defined as Bike Insurance Renewal.
The date of expiry indicates the moment from which the current insurance policy will cease to operate. The renewal of the bike insurance can either be on the same terms and conditions or you can enhance the policy with some add-ons.
Renewing the policy for bike without any breaks will fetch some bonus to the policyholder. It applies only when there are no claims reported in the previous policy.
Options available for the Bike Insurance Renewal
To renew the bike insurance policy you can choose either of the two:
# Stick with the same insurer: If you are happy with the current policy for your bike, then you should choose to opt-in with the same insurer. Mind, the renewal be done well in time to avoid losing the No-Claim Bonus.
Deposit the premium well before the expiry. It is because the policy will be effective only when the payment is realized by the insurer.
# Change to a new insurer: If you are unhappy with the existing insurer due to poor services, then you can change your insurer. The new insurer will inspect the bike before insuring it.
The proposer can provide all the information online and pay the premium as requested. The entire procedure needs to be carried before the existing policy falls due.
Things to Consider before Renewing a Bike Insurance policy
Making considerations before renewing a bike policy is not vague. Don’t we think twice before buying anything especially when it is for long term use?
Similarly, here are a few things you need to consider before renewing your bike insurance policy:
What to look for if moving to a New Insurer?
There are many mobile hardware players but only some of them sell in excellent figures. Just like any other thing, there are many insurers but only a few sell well.
Many factors could make it possible which one should know before moving to a new insurer. Some of them are:
# Know your convenience: Deciding to move is easy but know and analyze that it should not cost much before you move.
# Read about the claim reviews: Know about the feedback of all the insurers is available online. There are dedicated companies that provide you the analytical know-how about the insurer.
# Verify the financial strength of the insurer: It will be wise if you verify the financial strength of the insurer. The information is available on their website and similar sources.
# Compare the products: Check and compare the insurance products. Only if it satisfies you, should you think of shift.
Top Reasons to Renew Bike Insurance Online
Unlike other industries, insurance also plays well with online platforms and media. This time for your renewal, you can also consider going online because:
# Save a lot of Time: Online is an easy option to browse and compare. It is convenient and easy to choose from. In other words, you are saving time.
# Premiums are lower: Choosing an insurance policy online will be low-cost affair. It is because the insurers save money spent on distribution channel and other heads.
# Quick and Easy: Buying online policy is quick and easy. It gives you a comparison between the policies in just no time.
# Reviews: You get reviews and quick bytes about the insurance company or its products. You can also get opinions and suggestions from different people about the product.
# Hassle-Free Service: Online mode is free from the agents or brokers. You have direct contact with the insurers. Hence, you get zero hassle and absolute transparency when buying online policies.
How to Renew Bike Insurance Online?
- Step 1 - Go to Bike Insurance page, Fill your Vehicle’s Make, Model, Variant, Registration Date. Press ‘Get Quote’ and choose your choice of Plan.
- Step 2 - Choose between a Third-party bike insurance or a Comprehensive bike insurance.
- Step 3 - Give us details about your previous insurance policy- Date of expiry, Claim made in the last year, No Claim Bonus earned.
- Step 4 - You will get quote for your premium. If you have chosen a Standard Plan you can customize it further by selecting add-on’s, setting the IDV. You will see the final premium on the next page.