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5 Amazing Benefits of Two-Wheeler Insurance Renewal
- DetailsWritten by PolicyBazaar -
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This is the most comprehensive guide that will explain to you 5 amazing benefits of two-wheeler insurance renewal. In this expert-written guide, you’ll learn everything about renewing two wheeler insurance and its benefits.
If you want to continue the coverage and benefits under your existing bike insurance policy, make sure you kick-start with the renewal procedure.
Why Renew Two Wheeler Insurance?
Having a motor insurance policy is mandatory for everyone who owns a two-wheeler or car as per the Motor Vehicle Act of India. Research informs it is a dream of everyone to own a two-wheeler but most people forget about their duty once it is under possession. They forget to buy a motor insurance policy that protects them from a wide range of unforeseen problems, such as, accidents, burglary, theft and a lot more.
The best way to avail maximum protection for a two-wheeler from unforeseen events is to buy a motorbike insurance policy online. The list of benefits of two-wheeler insurance renewal has been elaborated underneath:
1. Protection against Natural Disasters
You will be amazed to know that renewing your two-wheeler insurance on time could save you from heavy expenses that may incur due to a natural disaster, such as Fire, Earthquake, cyclone, landslide, flood, Storm, Self-ignition, and the like. Your two-wheeler insurance policy bears the cost of repairing the damages caused due to any of the above mentioned natural disasters.
2. Protection against Manmade Calamities
Loss or damage incurred due to manmade activities, such as theft, burglary, strike, war, or accidents are covered by your two-wheeler insurance policy. It covers the service cost or replacement charges, whichever is compulsory according to a situation.
3. Protection of Legal Interest
The matter of the fact is third-party insurance is mandatory as per the Motor Vehicle Act, 1961. It ensures the owner of the insured vehicle is free from any third-party liability that may arise in the case of an accident where the insured vehicle is involved in the accident. The renewal of two wheeler insurance ensures that you do not have to bear the expense incurred for fixing the damages to two-wheeler vehicle, person or property in the surrounding.
4. Access to Discounts and Perks
Renewing your two-wheeler insurance policy on time ensures that you can avail discounts, such as No Claim Bonus (NCB). By not renewing your policy on time, you can lose these perks and discounts.
5. Gives You a Sense of Security
The most important feature offered to you on renewing your two-wheeler insurance policy is the security and peace of mind. Being covered under two-wheeler insurance policy gives you a sense of security to ride confidently on the road. It also helps you in saving the fines imposed on you under traffic laws, such as traffic police may impose a fine on you for not carrying valid insurance or not wearing a helmet while riding a two-wheeler.
|You may also like to Read: Best Two Wheeler Insurance Plans|
Things to Keep in Mind While Renewing Two-Wheeler Insurance:
Thus, you can see that renewing two-wheeler insurance is very important for everyone. Here are a few things to take care of while renewing a two-wheeler insurance policy in India:
- Keep a check on the validity date of your insurance policy. Try to renew well in advance as per the deadlines mentioned in the policy papers to avoid late payment charges or fine.
- Do not forget to compare two wheeler insurance quotes online before renewing your existing policy with your current insurer. There may an insurance policy or insurance company who will offer comprehensive benefits at an affordable premium.
- Use discounts like No Claim Bonus (NCB) and consider participating in Voluntary Excess to get a two-wheeler insurance policy at a lower premium.
General Procedure to Renew Two-wheeler Insurance:
You can easily renew your existing two wheeler insurance policy online. As the renewal procedure is different for different insurance companies, the general procedure to follow is elaborated below:
- Log onto the official website of the insurance company
- Visit the login panel and enter your user id and password to open your e-portal
- Click on the renewal button and enter the details of your existing two-wheeler insurance policy if required
- Select if you need to add any add-on covers and click on the submit button
- Pay the renewal amount via a credit card, debit card or net banking
- Save the renewal receipt carefully and get a hard copy of the same
Over to you!
Now that you have a decent number of reasons to renew your two-wheeler insurance policy, what are you waiting for? Do not forget to keep the aforementioned things in mind while renewing your bike insurance.
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