Motor Insurance

How To Renew Your Expired Bike Insurance Online?

by SMCIB on Tuesday, 13 June 2023

How To Renew Your Expired Bike Insurance Online?

Riding an insured bike comes as a confidence booster, knowing that both you and your bike are covered. It ensures that you have the necessary protection to hit the road. However, this sense of security with a valid insurance policy can quickly disappear if you find your policy expired. Therefore, it is essential to ensure that your two-wheeler insurance policy is valid and up-to-date.

Renewing bike insurance ensures that your coverage remains active to protect your finances and avoid any legal repercussions. And the best part is that it can be done quickly and conveniently through online platforms. Online renewal of your policy helps you avoid the hassle of visiting an insurance office, standing in long queues, and filling out numerous forms.

In this article, let’s learn how you can renew your expired bike insurance online.

 

What is Bike Insurance Renewal?

Renewing your bike insurance means extending the validity of your insurance policy for a further duration beyond the original term. It is a process that allows you to get continued coverage. When you renew your insurance policy, the terms and conditions, coverage, premium, and other details are revised. It is done to ensure that your policy stays relevant to your changing needs and circumstances.

Renewal also gives you the option to stick to your existing insurance company or switch to a different one. Either way, the process is straightforward, and you can do it online to ensure that you have a financial safety net in place.

 

What is Bike Insurance Expiry?

Expiry is the date on which your policy’s duration ends. So, after the expiration date, your coverage will cease to exist.  This means that any damages caused to your bike after the expiry date will not be covered by the insurance company and you’ll have to bear the financial losses yourself.

In India, bike insurance policies typically have a duration of 1 year, after which they expire. The expiration date is mentioned in your policy document. You need to renew it before the due date to ensure continued coverage.

Failing to renew your policy on time can result in a lapse in coverage, leaving you unprotected in case of an unfortunate event. Therefore, to avoid any potential financial setbacks, mark the expiry date on your calendar and renew your policy well in advance.

 

What is The Process To Renew Bike Insurance Online?

If your bike insurance has expired and you have also missed the date to renew it, worry not. Here’s a simple process you can follow to get it done -

  1. Visit The Insurance Provider’s Website
    To renew your bike insurance policy, you need to visit either your existing insurance provider’s website or any other insurance provider’s website and select the ‘Bike’ option.
  2. Provide Relevant Details
    Then, you’ll need to put in a few details.
  • If you are renewing your bike insurance policy with the same insurer, the process is very simple. You just need to enter your policy number on their website and follow the prompts to complete the renewal process.
  • If you choose to renew your bike insurance policy with a different insurer, web aggregator, or broker’s website, you can enter your bike registration number to get started.
  1. Check The Displayed Details
    After entering your registration number, the website will display the details of your bike. It is important to check that all the details are correct before proceeding further with the renewal process.

In some cases, the website may not be able to populate the details of your bike automatically. In that case, you need to enter them manually. So, make sure that you enter all the information accurately.

  1. Select The Desired Plan
    If you are on your existing insurance provider’s website, you will find your renewal premium displayed automatically. However, if you are on a web aggregator or broker’s website, you will find quotes from different insurance companies on the same page. So, check all the details carefully and select the desired plan.
  2. Get Your Bike Inspected
    If your bike insurance has expired, some insurers may want you to get your bike inspected before the new coverage begins. If the inspection doesn’t happen, the coverage will typically start in 2 to 3 days after you pay for it.
  3. Make The Payment
    Once the payment has been made, you will receive a copy of the policy on your registered email ID. Then, you can relax knowing that you and your vehicle are protected against possible risks.

 

Conclusion

Keeping your insurance active is crucial to your safety and that of your vehicle. Failing to do so could leave you vulnerable to serious financial and legal consequences. And, with the convenience of online renewal, it's easier than ever to make sure you're covered and have peace of mind. As a precautionary measure, you can also mark your calendar or set an alarm on your device - to stay protected and ahead of time.

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