Bike Insurance 1400 views April 3, 2020

Do you know the two-wheeler that you own and care for can be financially secured against loss and damage due to natural or man-made incidents? That’s right, different factors associated with a two-wheeler can be safeguarded by simply availing two-wheeler insurance. A two-wheeler or bike insurance secures your bike against the effects of natural calamities, theft, accidents and intentional damage. It acts as a shield against a sudden stretch of expenses incurred due to damage to the third party’s vehicle in an accident, repair costs, legal formalities, personal damages etc. 

Broadly, there are two types- Third Party Liability and Comprehensive Plan. They vary on the coverage provided and the premiums charged. If an availed policy surpasses the policy tenure and expires, then the same plan can either be renewed or a new one can be obtained. It is always advised to stick to a policy that looks after your needs as over time accrued bonuses and benefits come in help. 

When should two-wheeler insurance policy be renewed? 

Ideally, you should renew two-wheeler insurance before the policy tenure ends. Policy tenure is the decided number of months or years the policy is active for; bike insurances usually come for a year or less. Renewing before is important because not only creates a solid image in front of the insuring company but also ensures the accrued benefits don’t become invalid due to late renewal. 

How to Renew Two-Wheeler Insurance?

The steps to do so are rather simple. One can either do renew online or offline. Here’s how:

For Online Renewal: 

  1. All you need to do for online renewal is to visit the insuring company’s website and selecting renew policy option. 
  2. Then fill in the necessary information about the expiring policy and other information. 
  3. After confirming the details, you can go ahead with the payment for renewal from any of the given online payment options.

On the other hand, Offline Renewal can be done like this: 

You could get in touch with your policy provider and discuss the renewal. For instance, you could enquire if your bike needs to be inspected again for the renewal if there’s a necessity for additional riders etc. 

 After having clarified all necessary factors including the premium payable, benefits accumulated etc., inform them to process the renewal. 

 Top Five Things to keep in mind-

Renewal Date: 

Renewal date is of utmost importance. Renewing policies timely and not letting it lapse must be done. This is to ensure, bonuses can be utilized and the continuity of the policy is maintained. No Claim bonus helps curtail premiums payable sometimes even up to 50% of the amount. Renew Two-wheeler insurance policy well in advance to always be insured and to avoid additional expenses resulting due to inactive policy. 


With the variety in the market, one can easily avail and change policies according to their ever changing needs and requirements. Therefore, while renewing a policy make sure to compare different motor insurances in the market. This, in fact, is considered a thumb rule, to not renew without analyzing. And with the help of digitalization, it can easily be done online. 

Insured Declared Value:

IDV, the maximum sum assured under your bike insurance, is a more important consideration than the premium payable. This can be a complex task, therefore, make some efforts to determine the market price of your vehicle and try calculating the IDV as they tend to come down significantly during renewals.

Check for Bonuses and add-ons:

While renewing a policy check for any accumulated bonuses and avail them to help reduce your premiums. As for add-ons, they might either fail to serve their purpose any longer or might be inadequate, analyze them before availing or renewing. You can always switch if not satisfied either way. 

Final Word-

It is no secret that maintenance and repair costs can become sky high these days; the stretch of expenses may burn a hole in your pocket if not insured adequately. Though Bike insurance is mandatory under the Motor’s Act what most fail to recognize is that possessing bike insurance alone is not enough. One with sufficient coverage is. Furthermore, a good policy can provide cashless benefits, no-claim benefits as well as personal and third-party coverages. 

To renew two-wheeler insurance policy there are various factors to keep in mind, all of which has been discussed above. However, the premium payable can be further reduced, apart from No-Claim bonuses, by either installing an anti-theft device, by becoming a member of the Automobiles Association of India or Western India Automobile Association and by opting for a higher limit of the voluntary deductible. These techniques can significantly bring down the premium costs and can be applied during renewals too.

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