To be precise, riding your bike without valid insurance is illegal on Indian roads. That's why it is recommended to purchase and renew your bike insurance on time. Note that you can now renew your motorcycle insurance online, which will save you from the hassles of visiting the insurance office.
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When renewing your bike insurance, there is a grace period of ninety days where the insurer can create the policy as a break-in. In other words, with the help of break-in, you would be able to retain benefits like NCB. But after ninety days, you will have to buy a new policy and start over with no coverage benefits. Here are some essential things to know about bike insurance renewal.
Note that your insurance policy will lapse if you don't pay the premium on time. Moreover, you will get no additional benefits within the break-in period. NCB, also known as No Claims Bonus, which you have gathered, will be lost if you are not able to pay a premium.
In other words, you have to pay a higher amount for the renewal of your policy. Furthermore, your bike will be unprotected against any damage or loss emanating from an accident and third-party liabilities. So as you can see, it is always recommended to renew your policy on time.
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Always remember that you cannot renew a lapsed policy after ninety days. In these types of situations, you have to purchase a new policy which would require the necessary inspection and documentation of your bike along with other formalities.
Note that renewing your bike insurance is mandatory as you cannot ride your bike without insurance.
Insurers usually remind people about policy lapses through texts and emails. Always prefer calling up your insurer to find out the easiest way to renew your bike insurance. If you are renewing a lapsed policy, you can do that either online or offline.
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To renew a policy online, you have to go to the website of the insurer. You should submit the relevant details and pay the renewal amount to activate the insurance plan. If you are renewing offline, you may have to visit the insurer's office and ask for a survey of your vehicle.
Nowadays, most insurers have made it simpler for users to check the expiry date of their two-wheeler insurance. You can visit the insurer's website and enter your policy number to get the relevant details associated with the insurance policy. Renew your two-wheeler policy on time to avoid penalty fees.
