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How to Renew Bike Insurance Online in 3 Easy Steps?

Renewing two-wheeler insurance on time is essential for legal compliance and continuous coverage. It ensures financial protection against accidents or theft, offers you numerous benefits like the no-claim bonus (NCB) discount, and prevents you from hefty penalties or challans. If you are wondering how to renew bike insurance online, you are at the right place. Let us start!

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Significance of Bike Insurance Renewal Online

Unforeseen expenses are for those situations that you have zero control over. Having adequate two-wheeler insurance coverage lets you safeguard your vehicle against those unforeseen situations.

Bike insurance can provide financial help when you send your bike to a garage for repair. As an icing on the cake, it gives you risk cover against loss or damage caused by/to the third party in the case of an accident.

Two-wheeler insurance is a contract between the motor insurer and the policyholder. In this case, the insurance company agrees to bear a fixed cost of expenses towards damage or loss of an automobile because of an unpredictable situation in exchange for an insurance premium.

The risk cover provided for a two-wheeler or a bike insurance policy is eligible for only one year. When that period ends, the policyholder has to renew the policy by paying the fixed price, i.e. the premium to the insurance provider. 

You may like to Read: How to Renew Your Two-Wheeler Break-in Insurance Policy

How to Renew Bike Insurance Online in Three Steps?

When you renew your two-wheeler insurance policy online, it has its benefits. You get timely notifications regarding your due date, which significantly helps make timely insurance payments. It safeguards you against any delay at a premium price, which secures the safety of your two-wheeler.

Renew Two Wheeler Insurance Online

Contrary to the online mode of bike insurance renewal, the offline mode of renewing bike insurance policy is time-consuming and involves a lot of effort and patience.

The guidelines for making premium payments and renewing insurance policies vary from insurer to insurer. Still, the necessity to finish the process is the same to a certain extent. It is advised to crosscheck with your automobile insurance provider about the precise process of making a secure online payment for the renewal of your automobile. It is strongly recommended that you renew your automobile insurance before its due date and enjoy the continuation benefits of 2-wheeler policy.

Common Steps to Follow for Online Payment of Two-Wheeler Insurance

By following the below steps, you can renew your 2-wheeler insurance online if you have purchased from Policybazaar Insurance Brokers Private Limited:

  • Step 1: Visit Policybazaar.com and click the 'two-wheeler renewal' button from the 'renew your policy 'navigation.
  • Step 2: Enter your bike registration number, click on 'view prices', and compare & choose bike insurance plans offered by top bike insurance companies in India.
  • Step 3: Fill in the proposal, which includes bike owner details, nominee details and vehicle details. At last, make your payment via UPI, banking cards, or Internet banking.

The insurer will send bike insurance policy documents to your registered email ID so that you can take a printout of it in the comfort of your own home. Isn't it easy, convenient and hassle-free?

*Pro tip: Do not use open or free Wi-Fi for renewing or buying bike insurance online.

You may like to read Know All About Lapsed Two-Wheeler Insurance Plan

How to Renew Bike Insurance Offline?

If you want to know how to renew two-wheeler insurance offline, you can follow the below procedure:

  • Visit the insurer's office and pay a fixed premium amount. In return, you get a printout of your renewed policy and the payment receipt.
  • If you want to pay the 2-wheeler insurance premium online instead of cash, you can ask the agent to pay via any online payment method (if available).

Final words!

To renew your two-wheeler insurance online, check the expiry date mentioned in the policy documents. However, your insurance company will send renewal reminder messages or notifications when the expiry date is near. If you have any queries or questions, contact the customer assistance available 24x-7 for your help.

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

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^The renewal of insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for a transaction may vary subject to additional data requirements and operational processes.

^The buying of Insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for transaction may vary subject to additional data requirements and operational processes.

#Savings are based on the comparison between highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*TP price for less than 75 CC two-wheelers. All savings are provided by insurers as per IRDAI-approved insurance plan. Standard T&C apply.

*Rs 538/- per annum is the price for third party motor insurance for two wheelers of not more than 75cc (non-commercial and non-electric)

#Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*₹ 1.5 is the Comprehensive premium for a 2015 TVS XL Super 70cc, MH02(Mumbai) RTO with an IDV of ₹5,895 and NCB at 50%.

*Rs 457/- per annum (1.3/day) is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial). Premium is payable on an annual basis