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.
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 clickthe '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).
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.
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