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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.
Doing two-wheeler insurance renewal on time is extremely crucial to keep your bike protected. By renewing online, you can quickly compare different plans, pick the best coverage, and avoid any gaps in your policy. Here's everything you need to know about bike insurance renewal online.
Why Should You Do Bike Insurance Renewal?
A bike insurance policy may offer protection against damage, theft, riots and strikes, 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.
Whether you're buying a new policy or renewing the old one, bike insurance is mandatory in India. Also, doing policy renewal for a bike without any breaks will fetch No-Claim Bonus to the policyholder; however, it applies only when there are no claims reported in the previous policy.
Why Should You Renew Bike Insurance Policy on Time?
You should get your two-wheeler insurance renewal done on time for several reasons such as:
Having at least an active and valid third-party bike insurance policy is mandatory by law, as riding without valid insurance can result in hefty penalty.
Timely renewal of bike insurance policy ensures that your two-wheeler remains protected against accidents, theft, and other unforeseen events at all times.
Having active bike insurance helps cover repair costs and medical expenses, reducing your financial burden in case of an accident.
A policy lapse can lead to higher premiums when you renew, as insurers may view you as a higher risk.
Renewing on time also helps you retain your NCB, which can significantly reduce your premium costs.
Why Doing Bike Insurance Renewal Online is a Better Idea?
Renewing bike insurance online makes it even more hassle-free and quick. Here's why:
Online is an easy option to browse and compare. It is convenient and easy to choose from. In other words, you are saving time.
Choosing an insurance policy online will be a low-cost affair. It is because the insurers save money spent on the distribution channel and other heads.
Online mode is free from agents or brokers. You have direct contact with the insurers. Hence, you get zero hassle and absolute transparency when buying online policies.
Things to Consider Before Renewing a Bike Insurance Policy
Making considerations before renewing a bike insurance policy is no different than thinking 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:
- Scope of Cover Under the Existing Policy: Does the existing insurance cover provide you the widest cover possible? Think and know more about it from your insurance company.
- Which Insurer is the Best: A lot before the date of the renewal, the bike owner should identify all the insurers that exist in the market. Explore the quality of services both at the time of purchase and at the time of claim. Remember, it is to be done before the policy expires, not after.
- Which Insurance Cover is the Best: Out of the two types of motor policies - Comprehensive bike insurance or Third-Party Liability. You should know which one will serve your purpose. After that, compare the premium rates, deductibles, and other similar factors. Also, look for which insurer cost-effectively offers the add-on coverages.
- Any Add-On Cover: Know well in advance whether you want to enhance the cover with some add-ons or not? You can go with a personal accident cover, engine and gearbox protection, return to invoice cover, and others.
Why Choose Digit for Bike Insurance Renewal?
Key Features of Digit's Two-Wheeler Insurance
What are the Types of Two-Wheeler Insurance Policies?
| Third Party | Comprehensive | Own Damage |
Damages/Losses to own two-wheeler due to an accident |
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Damages/Losses to own two-wheeler in case of fire |
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Damages/Losses to own two-wheeler in case of a natural calamity |
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Damages to Third-Party Vehicle |
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Damages to Third-Party Property |
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Personal Accident Cover |
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Injuries/Death of a Third-Party Person |
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Theft of your scooter or bike |
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Customize your IDV |
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Extra protection with customized add-ons |
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| Get Quote | Get Quote | Get Quote |
Know more about the difference between comprehensive and third party two wheeler insurance
FAQs about Bike Insurance Renewal Online
Can I renew two-wheeler insurance online?
Yes, you can renew your bike insurance online by visiting Digit’s app or website and following some simple steps.
What do I need for two-wheeler insurance renewal online?
To renew your bike insurance online, you'll need:
- Your full name and address
- Vehicle type/make and model details
- Registration number
- Previous policy number
- Any add-ons you want
- Payment details
How to renew two-wheeler insurance with Digit?
To renew bike insurance policy with Digit, just click on the "Renew Digit Policy" button or enter your bike's registration number to get started. Log in using a one-time password and follow the straightforward steps.
How do I check my bike insurance policy expiry date?
If you bought your bike insurance policy with Digit, you would have received your policy document via email. You can find the expiry date on that document.
When will I get my policy document if I renew online?
If you renew your bike insurance policy online with Digit, you'll typically receive your policy document within minutes of making the payment.
What to consider before renewing my bike insurance policy?
Before renewing your policy, consider:
- Speed of claim settlement
- Claim settlement history of the company
- Customer service availability
- Availability of cashless options
How long can I get a long-term bike insurance policy for?
You can buy a long-term two-wheeler insurance policy for up to 5 years at a time in India.
What is the penalty for riding without bike insurance in India?
If you're caught riding without bike insurance in India, you can be fined up to ₹2000 or imprisonment up to 3 months for the first offence and ₹4000 for repeat offences.
What happens if I do not renew my bike insurance policy on time?
If you don't renew your bike insurance on time, you may face penalties like fines, license suspension, and higher premiums when you buy or renew a policy.
What is the bike insurance renewal price?
The renewal price for bike insurance varies based on factors like the make and model of the vehicle, its age, your driving history, insured declared value (IDV), chosen add-ons, and the type of coverage.
Will my NCB be transferred if I renew my bike insurance from a new insurer?
Yes, most insurers allow you to transfer your no claim bonus (NCB) from your previous insurer to your new policy.
What to do if my bike insurance policy expires?
If your bike insurance policy expires, you could be penalised and lose financial protection. Contact your insurer right away to renew your bike insurance policy or get a new one as soon as possible.
Is there a grace period for expired two-wheeler insurance?
Yes, most insurers offer a grace period of 10 to 30 days to make a payment and avoid a lapse in coverage.