You should always renew your bike insurance in time. However, if your two-wheeler insurance lapses for some reason, then you can renew it even after its expiry. Read this post to learn more about renewing an expired two-wheeler insurance policy.
If you own a bike, then you are probably well aware of the importance of two-wheeler insurance. Besides, it’s a statutory requirement in India to have a valid third-party bike insurance policy for your bike. However, there can be times when you forget to renew your two-wheeler insurance on time leading to its expiry. In such a situation, you should renew your expired bike insurance as early as possible.
Ways to Renew an Expired Two-Wheeler Insurance
It is strongly recommended never to let your vehicle insurance lapse. However, if your two-wheeler insurance has lapsed, then you can renew it in two different ways.
Most reputed insurers provide the option of renewing a bike insurance policy online. It is the most convenient and hassle-free method, involving a few simple steps.
- Visit the official website of the insurance provider.
- Choose the two-wheeler insurance option.
- Enter the policy details.
- Enter your vehicle details.
- Select the policy type.
- Pay the amount to renew the policy.
One of the great benefits of online bike insurance renewal is that the inspection of your bike is not required. However, the insurer begins the policy coverage after three days of receiving payment.
If you’re uncomfortable with online insurance renewal, you can renew your lapsed policy offline by visiting the nearest centre of the insurer. However, you need to take your bike to the insurer’s office for inspection in the case of offline renewal. The insurer will renew your bike insurance based on the inspection report. The process may take 2-3 days to complete.
If you have comprehensive bike insurance, then try to renew it within 90 days of the expiry to avoid losing the NCB (No Claim Bonus) benefits.
How to Avoid Expiry of Your Two-Wheeler Insurance?
Keep Track of Your Policy
Renewing your bike insurance policy is an annual affair. So, it shouldn’t be very tough to keep track of your policy renewal date. Consider maintaining a written record or marking the policy renewal date as a reminder on your smartphone.
Renew in Advance
Don’t wait till the last date of renewal. Consider renewing your bike insurance at least 10-15 days in advance.
Choose Multiple Year Policy
Many people prefer comprehensive bike insurance, which provides insurance coverage against the damages caused to the third party as well as the insured bike. You can purchase comprehensive vehicle insurance for a three to five-year period.
Choosing a long-term comprehensive bike insurance policy reduces the chances of non-renewal. Besides, you don’t need to keep track of your insurance renewal date every year.
Apart from the statutory repercussions, a lapsed policy can land you in unnecessary trouble if you get involved in an accident. Therefore, it is better to ensure your bike insurance is valid.
However, in the case of an expired policy, it’s better late than never. Renew your lapsed two-wheeler insurance by following the steps mentioned above, and keep enjoying a safe ride.