Two Wheeler Bike Insurance 244 views October 15, 2018

A lapsed 2 wheeler insurance policy has the same status as being without insurance. This means that the 2 wheeler vehicle owner loses all the accompanying benefits and rights as a result of not paying the insurance premiums on the due date or missing out on the policy’s renewal after its expiry.

If the policy has remained lapsed for a period of 90 days, then the policyholder loses out on the advantages pursuant to No Claim Bonus (NCB). As a penalty, the insurance company may also hike the value of the 2 wheeler insurance premium in the coming cycle. In addition, if the policyholder meets with an accident during this period, he or she has exposed risks including third-party liabilities, damages caused to the vehicle and hospitalization expenses for treatment of resulting injuries.