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Bike Insurance 684 views April 15, 2021
Two wheeler insurance provides you financial protection against losses or damages caused to or by your bike. But what if your two wheeler insurance lapse? If your policy lapses, you cannot file a claim under the policy, and the accumulated No Claim Bonus (NCB) shall also get lost. So, if you don’t want to face such a situation, renew your two wheeler bike insurance on its due date. In case you fail to do so, there is a break-in period wherein you can renew your policy and retain benefits like NCB and other coverages. And you can renew your policy without any penalty charges during the break-in period. Read this post further and know how to renew your two wheeler bike break-in insurance policy.
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If you have purchased the policy online, you can renew your policy by visiting the insurer’s official website. Follow the steps below to renew your two wheeler bike break-in insurance policy online –
You can renew your bike insurance offline by contacting your insurance agent or visiting the insurance company’s office. This type of renewal process provides the benefit of a better understanding of the policy. For offline renewal, you need to submit the following documents –
If your two wheeler bike break-in insurance does not renew on time, you have to face the following consequences –
As you know, two wheeler insurance is mandatory for every bike owner/driver as per the Motor Vehicles Act, 1988. Hence, if you don’t renew your bike insurance on time, you should remember the following –
The following are some tips by which you can avoid policy lapse –