Can You Renew Your Lapsed Two-wheeler Insurance Policy Online?
All vehicles in India must have a valid insurance policy, according to the Motor Vehicles Act of 1988. The two-wheeler insurance policy improves road safety while also protecting drivers’ interests, such as financial and emotional burdens. Since it is mandatory to be insured, if you still don’t have insurance coverage, please buy bike insurance online to avoid facing any issues later.
An insurance policy covers the rider and all other third parties from unforeseeable accidents. As a result, timely renewal is critical and advised. But what happens if you forget to renew your two-wheeler insurance and it expires?
What exactly is a lapsed policy?
In layman’s terms, when a policyholder fails to renew his bike insurance policy on time or pay the premium amount, his policy is said to have lapsed. To avoid such unfortunate situations, renewing it on time or within the grace period is advisable.
Even though the bike insurance renewal process is simple and fast, there are a few things to consider before proceeding.
- Check the previous insurance policy’s No-Claim Bonus (NCB) coverage status before renewing. You should not miss out on this benefit and transfer it to your new policy.
- Purchase your bike insurance online after comparing a few insurance policies to find the best fit for you and your vehicle.
- Keep track of your policy renewal dates to avoid riding an uninsured two-wheeler. Renewing on time would help to save some money.
Furthermore, renewing policies online has the following benefits:
- You can contact customer service if you have any questions during the renewal process.
- It is quick and does not require any additional fees.
- Reduced paperwork and documentation when renewing online.
- Unlike offline renewal, you can easily do a bike insurance check online, compare multiple policies and then make a final purchase.
* Standard T&C Apply
Now that we know how this online renewal process benefits us, let’s go over the few points involved in renewing a lapsed policy online –
- Make the right decision: As previously stated, compare all available insurance policies online. Before making a final decision, consider the pricing, benefits, etc.
If you wish to, you can continue with the same policy as before. Still, making the most appropriate and informed decision is best to reap the most benefits. *
- Enter the vehicle information: Go to the website of your preferred two-wheeler insurance policy provider and enter the requested information under the policy renewal category. Select the insurance policy, IDV, and pick add-ons with care.
Purchase the policy after cross-verification. After you’ve paid, check your registered email address to download a copy of your policy. *
* Standard T&C Apply
We can clearly conclude, unlike the offline process that involves going from one desk to another and providing many documents, buying bike insurance online is a simple hassle-free process.
Make sure your policy is renewed on time to avoid future hassles and burdens. A two-wheeler insurance policy aims to ensure that your ride is protected and that the renewal process is simple and quick.
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.