Two-wheelers can make life easier for their owners. They are not only affordable to purchase but to maintain too. They can be resourceful to traverse traffic conditions and help you reach your destination quickly. The premium of Two-Wheeler Insurance is affordable. Yet, many bike owners fail to renew their policies on time, incurring hefty penalties and other punishments.

Remember to renew your Two-Wheeler Insurance before expiry to prevent issues such as paying hefty fines for riding without a policy, imprisonment, or liability for third-party damages in an accident. Your policy term is usually one year. However, nowadays, you can also buy Long-Term Insurance for five years.

Offline renewal

Whether you buy Regular or Long-Term Insurance for your bike, if you fail to renew it, your policy lapses. The Insurance company also stops offering you the benefits. Here are the steps to follow for offline policy renewal:

• Visit the branch or office of the Insurance company.
• Ensure you carry all the documents, including your previous policy details and bike registration certificate.
• After submitting them, the Insurance agent initiates a process for policy renewal. If your policy has lapsed, your bike may be subject to inspection.

Online renewal

There are specific steps to follow for online Bike Insurance renewal, such as:

• Collect the details, such as the previous policy and bike registration numbers.
• Visit your Insurance company’s website.
• Provide the required information about your bike.
• Select the right policy with adequate coverage.
• Select add-ons if required.

Comparison

Before renewal, you can also compare several policies using the Two-Wheeler Insurance calculator online. Enter the bike’s company, model, variant, ex-showroom price, city of registration, year of purchase, and your claim details, and calculate. The calculator displays the Insured Declared Value and estimated premium quotes for your bike model.

Opting for add-ons

The option to select add-ons for your Two-Wheeler Insurance is limited to Comprehensive Policies only. Some popular add-ons include Zero Depreciation, Engine Protection, No Claim Bonus cover, etc. They are more expensive than Liability-Only Policies. Though Third-Party Policies are affordable, they might not offer adequate coverage for your two-wheeler.

Owners who want peace of mind while riding their bikes should consider buying Comprehensive Plans, as they help you get your repairs done at cashless garages and offer protection against bike theft, fire, natural calamities, third-party and personal injuries, etc.

Conclusion

If your Bike Insurance Policy has expired, the steps mentioned will help you renew it. However, buy a new Bike Insurance if your policy has expired for over 90 days. Renewing it online is the best option. Failing to do so on time can lead to many financial problems. Moreover, with the growth of digital processes, Insurance companies send you emails and SMS reminders for policy expiry and renewal before they lapse to prevent these hassles.