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.

Online Renewal Process for Your Two Wheeler Insurance

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 –

  1. Visit the insurance company’s official website
  2. Click on ‘Renewal Quote’
  3. Fill in the required details such as policy number, payment details like – credit/debit card number

Offline Renewal Process for Your Two Wheeler Insurance

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 –

  1. Duly filled renewal form
  2. Policy document
  3. Your driving license
  4. Bike Registration Certificate (RC)

What If You Fail to Renew Your Two Wheeler Bike Break-in Insurance Policy?

If your two wheeler bike break-in insurance does not renew on time, you have to face the following consequences –

  1. No benefits shall be eligible
  2. The NCB which you may have accumulated over the years will be lost
  3. You need to pay a higher premium amount on renewal after the expiry of the break-in period
  4. Third-party liability cover active during the break-in period will discontinue afterward
  5. After the break-in period expiry, you will have to buy a new policy.

Things You Must Know About Two Wheeler Bike Break-in Insurance Policy

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 –

  1. You have a break-in period of 90 days, which may vary from insurer to insurer
  2. You can still retain your NCB.
  3. No benefits are admissible under comprehensive bike insurance during the break-in period, except the third-party cover

How to Avoid Two Wheeler Bike Insurance Lapses?

The following are some tips by which you can avoid policy lapse –

  1. Sign up for email/SMS alert service
  2. Purchase a long-term two wheeler insurance policy as its coverage is up to 3 years, and this saves you from the hassles of annual renewals

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