A two-wheeler insurance policy protects your vehicle from financial liability in the event of any unfortunate event. It protects you against different types of damage to your two-wheeler. Without 2-wheeler insurance, you could face a heavy fine, up to 3 months in prison, or both. Two-wheeler insurance also covers third-party damages.
Third-party two-wheeler insurance is mandatory in India by law. You get a grace period ranging between 30 and 90 days after your insurance expires. During this time, you can renew your policy without losing benefits. But you will not receive any coverage during this grace period. Your two-wheeler insurance policy protects you from paying for third-party costs. It can include property damage, medical expenses, etc.
Bike insurance is also necessary because it protects your vehicle financially. The costs of repair must be borne by you if your vehicle is damaged without bike insurance. A two-wheeler insurance policy is valid for a certain period. It should be renewed after it expires. How can you renew your two-wheeler insurance online? Find out here!
Steps to Renew Your Two-Wheeler Insurance Policy Online
Here are the steps to follow in order to renew your two-wheeler insurance online:
Step 1: Go to the website of your preferred insurer.
Step 2: Fill in the necessary information. This includes the policy number and vehicle information.
Step 3: Choose a bike insurance policy that meets your needs.
Step 4: Make your payment by selecting your preferred online payment method.
You will receive your renewed policy documents at your registered email address. When you receive the policy document, double-check the details. If there are discrepancies, contact the insurer for corrections.
Many insurance apps provide services such as policy renewal. Download the app and sign in with your registered mobile number or email address. Check the “bike insurance” option and renew your 2-wheeler insurance policy. Provide your policy details and pay the premium.
Benefits of Renewing Bike Insurance Online
Following are the benefits of renewing your two-wheeler insurance online:
Quick and simple policy renewal
Renewing a 2-wheeler insurance policy is no longer a big task. You can complete this process smoothly at any insurance provider’s website. You can also use the mobile app from the comfort of your home. You must provide the necessary information and upload relevant documents. You will receive confirmation after paying the amount.
Safety and security
Your two-wheeler insurance information is entirely secure. Multiple safety measures are in place to protect your data and financial information.
If you want to buy add-ons to your two-wheeler insurance online, you can do so easily. You can choose what works best for your needs.
You may want to transfer your policy to another agency or provider. You may have an offer with better savings. Some policies provide wider coverage. In such a case, you can easily switch insurers online. You may do this at the time of renewal.
You can access all the information when you buy bike insurance online. This transparency ensures peace of mind. You understand all the terms and conditions clearly. There is no undue influence when applying for insurance. This is a key factor in the popularity of this method.
Pay no extra fees
You will not be required to pay extra fees. There is no middleman or agent. There are no service fees as well. The payment is for the policy alone.
An online team is always available to assist. You don’t have to be concerned if you need help. You can get it anywhere, anytime.
Useful Tips to Renew Your Expired Two-Wheeler Insurance Online
Here are some useful tips for renewing your two-wheeler insurance online:
1. You can upgrade your third-party bike insurance to comprehensive bike insurance. This will provide better coverage for your vehicle.
2. Consider switching to a new insurer if you are not happy with the present one.
3. Notify the insurer if your bike has been modified. The premium may rise slightly. The insurance will still be adequate.
Various Two-Wheeler Insurance Types
A comprehensive bike insurance policy provides complete coverage. It takes care of third-party damages. It refunds the costs incurred due to damage to your bike. This policy covers accidents. Your bike is protected in case of fire damage or explosion. Both natural and man-made disasters are covered. You can rest assured even if the bike is stolen.
You will need to pay an additional fee for this. It will help you get add-ons. This includes engine cover and roadside assistance. Insurers also offer zero depreciation. Check all the options before deciding.
To ride a bike, it is necessary to get third-party bike insurance in India. This insurance is also known as a ‘liability-only policy.’ This is because it covers injuries, temporary or permanent disability, and third-party death. The policy is triggered by a motorcycle-related accident.
This two-wheeler insurance includes coverage for third-party property damage costs up to a lakh. It does not include harm to the insured person or their bike.
Bike own-damage insurance
As we have seen previously, a bike may be damaged because of an accident, fire, or disaster. It may even be stolen. This standalone, own-damage bike insurance policy pays for the damage. Policy owners can have third-party and own-damage coverage from the same insurer or different ones. The insured person can extend the scope of an own-damage insurance policy by acquiring add-on coverage.
As you can see, it is really simple to renew your two-wheeler insurance online. That is also the reason why most people opt to buy and renew their insurance online. Did you get your two-wheeler covered by insurance? If not, then get your two-wheeler insurance now. For more information, visit Piramal Finance now. This is a one-stop platform for accurate information on financial and banking services. Make sure your financial knowledge is up to date on essential services and products, such as personal loans and insurance coverage, by reading the informative blogs on their website.