What are The Reasons to Renew Two-Wheeler Insurance Policy Online

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Renew two-wheeler insurance is very essential because India’s vehicle industry has expanded throughout time. Vehicle sales are increasing. As a result of this surge, the number of road accidents on Indian roadways has increased. This problem has also been exacerbated by rash driving. Keeping this in mind, the majority of people have obtained health insurance to cover unexpected accidents.

When it comes to paying for damages caused by an accident involving their car or a third party, they must pay out of pocket, depleting their resources.

Two-wheeler insurance covers bikes against major risks including accidents, natural catastrophes, and theft. In order to lawfully ride a two-wheeler in India, you must acquire at least a Third-party Liability coverage.

What Is Bike Insurance?

A contract between the insurer and the bike owner is known as a bike insurance policy. In the case of an accident, your bike is financially protected by your insurance carrier. The Motor Vehicle Act of 1988 mandates third-party bike insurance in India.

Bike insurance covers you in the case of an accident while riding a motorcycle or two-wheeler on Indian roads. To avoid a Rs. 2,000 fee, buy or renew two-wheeler insurance online for up to three years in 30 seconds.

5 Reasons Why Should You Renew Two Wheeler Insurance Online

Assume you own a motorcycle and are considering whether to purchase a Third-Party Liability or Comprehensive Two-Wheeler Insurance coverage. In that scenario, selecting the complete option is suggested. It contains the vital component of third-party liability, but it also protects your bike from the hazards described above if you renew your bike insurance online. On the other hand, purchasing a Comprehensive Two-Wheeler Insurance Policy is inadequate. It requires frequent renewal.

The following are five benefits of renewing a comprehensive two-wheeler insurance coverage.

1. Being a law-abiding citizen

Make sure you follow the rules when you renew your bike insurance online when it expires. You will avoid fines and your insurance coverage will protect you. Riding a motorcycle without a legal two-wheeler insurance coverage might result in a fine or possibly incarceration. It’s crucial to remember that your two-wheeler coverage goes inactive when it expires. As a reason, it’s even more important to renew bike insurance online before it expires.

2. Staying insured

Failure to renew your bike insurance online puts you at risk of financial loss if something goes wrong with your bike. In the case of an accident or natural disaster, a Comprehensive Two-Wheeler Insurance coverage will safeguard your bike. It also provides theft protection for your two-wheeler. Renewing your two-wheeler insurance ensures that you covered and that you may continue to ride your bike.

3. No break-in policy drawback

You must renew your bike insurance online before it expires, as previously mentioned. Your insurance policy will be regarded a break-in policy if you renew it after a particular length of time (varies by insurer) has passed since the expiration date. In such instances, your bike may be inspected by the insurance carrier. This might result in a higher motorcycle insurance rate.

4. Keeping NCB Active

When renewing a policy, insurance companies give a 5-year incremental discount called the No Claim Bonus (NCB). It’s a discount for driving safely and not submitting a claim throughout the policy time. Your No Claim Bonus will lose if you submit a claim or fail to renew your bike insurance policy within 90 days of its expiration date. To keep your NCB active, you have a 90-day grace period.

5. Right time to renew

A month before your policy’s expiration date, you should evaluate your Comprehensive Two-Wheeler Insurance coverage. You may pick Add-ons like Roadside Assistance, Pillion Rider Cover, and more while renewing your policy if they match your needs.

Add-ons will boost the insurance price somewhat, but by expanding coverage, they will strengthen it. While renewing your coverage, you can also switch insurance carriers. As a result of digitization, the insurance sector has evolved, and new insurers have arisen.

Online Bike Insurance

Purchasing insurance is no longer as difficult as it once was. Simply go to your insurance company’s website, choose the coverage you want, and finish the purchase as you would on any other popular e-commerce platform. You won’t have to fill out long forms because the basic information will suffice.

The policy’s characteristics are clearly outlined on the insurance company’s website. Before acquiring the policy, you can contact the insurance company’s executive via phone or email if you have any queries.

The Difference Between a Traditional and an Online Two-Wheeler Insurance Renewal

During the typical break-in renewal procedure, the vehicle must examine. Inspection fees, which are in addition to the premium, are the responsibility of the consumer. The client must additionally submit prior policy documents and RC at the time of inspection, making the procedure lengthy and cumbersome.

Policyholders, on the other hand, do not need to be concerned because the mechanism mentioned above is no longer in place. The entire insurance renewal procedure has been simplified thanks to this new online renewal option.

Wrapping it up

The procedure for renewing bike insurance online is straightforward and quick. Go to the page on your choice insurance company’s website where you may renew your bike insurance online. Fill in the required information and select an appropriate plan. You can then proceed to making a payment. Your insurance policy will be provided to you promptly if a bike inspection is not necessary.

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