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  • What Are The Best Methods To Renew Your Two-Wheeler Insurance Policy?

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    When insurance as a concept emerged, the only possible way to buy a policy was through an insurance agent. As insurance got more popularity, more and more players jumped in and provided the buyers with umpteen options. Initially, the customers had only two choices - either to approach the insurer directly or through an insurance agent. As the industry progressed further, the insurance agent who was loyal to a single insurance provider turned into an agent of multiple insurers. This led to the concept of an insurance broker. The insurance broker is supposed to study and know everything about different policies they are trying to sell. However, they may try to push for a particular product that offers them a higher profit margin.

    With the advent of technology, the way people buy an insurance has completely transformed. Today, there are multiple online platforms available where they can buy or renew online two wheeler insurance policy with ease. Not only it saves time, but it also allows you to compare different two wheeler insurance policies and choose the one that best suits your requirement. However, there also exist different other ways to buy or renew a bike insurance policy. You may check some of the methods explained below and go with the one you are most comfortable with.

    Insurance Agents

    A two wheeler insurance agent is someone who represents a bike insurance provider and sells insurance products on their behalf. According to the Indian law, an insurance agent can only represent a single insurance provider at any point of time. They receive training and license to guide insurance seekers with respect to their particular needs and sell products that best meets customers’ requirements.

    As the customer is completely dependent on the guidance provided by an insurance agent. They are accountable for misleading the customer or selling them the wrong products. So if you are dissatisfied with the product offered to you by the insurance agent, you can raise the issue with the insurance company, the judicial bodies or the Insurance Regulatory and Development Authority (IRDA). The insurance company may ban the agent or may cancel their license.

    Insurance Brokers

    An insurance broker, unlike an insurance agent represents the interests of the client rather than the insurance company. They are bound by the law to understand the needs and requirements of the customers and guide them with the available alternatives. He is supposed to know the nuances of different policies in order to suggest the customers the best products based on their expectations from the insurance. You may sue the broker if they mislead you or approach the IRDAI for help. The IRDAI may cancel the license of insurance brokers if they are found guilty.

    Agents and brokers can also fall under the following categories:

    Independents Brokers And Agents

    Independent brokers and agents sell products from a range of bike insurance companies. They review multiple products available in the market and offer you the two wheeler renewal policy that gives maximum benefits at reasonable premium. The insurance industry is always subject to changes in premium rates, benefits and plans. It is the duty of independent two-wheeler insurance brokers to keep track of all such changes and provide customers the right information. They may also offer customized two-wheeler insurance policies as per the needs of the customers.

    Captive Brokers And Agents

    By rule, agents are supposed to work in association with a specific insurance provider. They enter into a business agreement with the insurer which binds them to sell policies offered by the said insurance company. That is why they are called captive insurance brokers/agents.

    The insurance company may also allow the captive agents to sell other products offered by the company other than two-wheeler insurance.

    Why Should You approach An Insurance Broker?

    Approaching an independent broker or agent is a better option as compared to buying or renewing your motorcycle insurance policy via a captive insurance agent. The reason is that an independent broker deals with a variety of products and his accountability lies with the client. It is the duty of an independent insurance agent to understand your requirements and provide you the bike insurance renewal policy which offers you the best coverage at reasonable cost.

    Why Should You Renew Your Two-Wheeler Insurance Policy Online?

    Most people approach motor insurance brokers because they find it complicated to calculate the premium amount as there are multiple factors to be taken into consideration. These factors range from the make and model of the vehicle, year of manufacture, engine displacement, and prevailing premium rates. There are also certain lifestyle factors such as marital status of a person, city of residence, and others which impact the amount of premium when you look to renew your bike insurance policy.

    Now, can you calculate your insurance premium online? Sure you can! There are multiple online insurance portals where you may compare different bike insurance policies and also calculate the amount of premium you will be required to pay by entering a few basic details. You can also renew your motorcycle insurance through the official websites of different insurance providers in an easy, secured, and transparent way.

    There are umpteen benefits of getting your two-wheeler insurance renewed online. Unlike in the case of offline insurance renewal, the documentation process is quite simple and you may also skip vehicle inspection if your insurer allows you to do so. In case of an offline insurance renewal, you need to schedule an appointment with the insurance company’s representative who inspects your vehicle and determine the premium rate. On the other hand, renewing motorcycle insurance online also helps you explore and analyse other available products that may be more beneficial to you.

    What Are The Best Methods To Renew Your Two-Wheeler Insurance Policy? Reviews

  • Page 1 of 50 1 2 3 4 5
    • HDFC Ergo Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my two wheeler insured with HDFC ERGO from last 2 years, i am happy with the coverage value of this insurance policy. A premium of Rs 1200 has to be paid for this insurance policy and i have no claim experience so far.
      Was this review helpful? 2
      , mumbai
      Reviewed on Sep 14, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a two wheeler insurance with Bajaj Allianz from last 3 years, i am happy with the coverage value of this insurance policy. A premium of Rs 1600 has to be paid for this insurance policy and i have not claimed anything so far with this two wheeler insurance.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 14, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my two wheeler insured with Bajaj Allianz from last 1 year, i pay a insurance premium of Rs 1400 for this insurance policy. I have not claimed anything so far from this insurance policy. I am happy with the coverage value of this insurance policy.
      Was this review helpful? 1
      , pune
      Reviewed on Sep 12, 2018
    • HDFC Ergo Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I am having a two wheeler insurance policy with HDFC ERGO from last 5 years, i am happy with the coverage value of this insurance policy. I have not claimed anything so far from this insurance policy. I pay a insurance premium of Rs 1100 for this policy.
      Was this review helpful? 1
      , rajahmundry
      Reviewed on Sep 12, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I had a two wheeler insurance with ICICI lonbard for quite long time. I am happy with the coverage value of this insurance policy. I am not aware of the premium amount of this insurance policy. I have claimed 3-4 times and all my claim experience was good.
      Was this review helpful? 1
      , ahmedabad
      Reviewed on Sep 12, 2018
    • HDFC Ergo Two Wheeler Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      My bike is insured with the HDFc Ergo general insurance. The premium is low and I do not have any claim experience with the policy so far. So far there hasn't been any issues with their services. I'll have to wait and see how they respond to my requests in future.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 11, 2018
    • L and T Two Wheeler Insurance
      "Excellent Service"
      0.5 4.0/5 "Great!"
      I had taken this insurance policy long time back and i had been making the payments of premium annually. Their customer support also had been good as well and i had also taken a claim which was a good experience. There has not been any hassle faced so far.
      Was this review helpful? 3
      , coimbatore
      Reviewed on Sep 07, 2018
    • New India Two Wheeler Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have my two wheeler insured with New India Assurance from last 2-3 years, i am happy with the coverage value of this insurance policy. My claim experience was good with this insurance policy. A premium of Rs 2500 has to be paid for this insurance policy. I am satisfied with the policy coverage and plan benefits of this policy.
      Was this review helpful? 5
      , chennai
      Reviewed on Sep 05, 2018
    • HDFC Ergo Two Wheeler Insurance
      "Good Service so far"
      0.5 4.0/5 "Great!"
      My bike is insured with the HDFC Ergo. I do not have any claim experience with the policy. The premium is really less. So far there hasn't been any issues with their services. I'll have to wait and see how they respond to my request in future if I'll have any
      Was this review helpful? 2
      , chandigarh
      Reviewed on Sep 04, 2018
    • National Insurance Two Wheeler Insurance
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this two wheeler insurance a long time back. The premium amount which i had to pay every year had been nominal and i had been making the payments online. Their customer support also had been good as well. I had not made any claims so far.
      Was this review helpful? 2
      , coimbatore
      Reviewed on Sep 04, 2018
    • Tata AIG Two Wheeler Insurance
      "Average policy "
      0.5 3.0/5 "Satisfactory"
      I have take a two wheeler insurance from Tata AIG insurance . This policy covers for 1 year . It covers bumper to bumper coverage ,cashless garage benefits . Am satisfied with premium amount which am making the payment. I'm satisfied with the customer care.
      Was this review helpful? 3
      , chennai
      Reviewed on Sep 04, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Normal Service"
      0.5 3.0/5 "Satisfactory"
      My Bike is insured with the ICICI Lombard General Insurance. I am paying a premium 12000, it only covers the metal parts. I do not have any claim experience with the policy so far. There hasn't been any issues with the services as well.
      Was this review helpful? 1
      , guntur
      Reviewed on Aug 31, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my two wheeler insured with ICICI lombard from last 10 years and it is a good policy to use. The premium amount for this insurance policy is nominal when compared to other policies. I have no claim experience with this insurance and the coverage value is good.
      Was this review helpful? 8
      , pune
      Reviewed on Aug 30, 2018
    • Tata AIG Two Wheeler Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      Premium for this insurance is normal, they took the processing time was less, i have been making payment for this premium for past few years, they have given me the good benefits in this premium, i feel it will give good benefits will be given in future, over all it a good insurance.
      Was this review helpful? 4
      , hyderabad
      Reviewed on Aug 29, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a two wheeler insurance with ICICI LOMBARD from last 3-4 years, i am happy with the coverage value of this insurance policy. I am not aware of the premium amount for this insurance. I have no claim experience so far with this insurance policy.
      Was this review helpful? 5
      , bangalore
      Reviewed on Aug 29, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my two wheeler insurance with ICICI Lombard from last 3 years, i am happy with the coverage value of this insurance policy. A premium of Rs 1200-1500 has to be paid for this insurance policy. I have not claimed anything so far from this insurance policy.
      Was this review helpful? 5
      , kolkata
      Reviewed on Aug 29, 2018
    • HDFC Ergo Two Wheeler Insurance
      "Good Service so far"
      0.5 5.0/5 "Blown Away!"
      My bike is insured with the HDFC Ergo general Insurance. I am paying a premium of 3000 Per year, It covers the entire bike. I do not have any claim expereince with the policy so far. So far there hasn't been any issues with their services.
      Was this review helpful? 5
      , chennai
      Reviewed on Aug 29, 2018
    • National Insurance Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a two wheeler insurance with national insurance from last 3 year, i am happy with the coverage value of this insurance policy. I have not claimed anything so far from this insurance policy. A premium of Rs 1500 has to be paid for this insurance policy.
      Was this review helpful? 3
      , coimbatore
      Reviewed on Aug 29, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a two wheeler insurance with ICICI lombard from last 1 year, i am happy with the coverage value of this insurance policy. I have not claimed anything so far from this insurance policy. A premium of Rs 1700 has to be paid for this insurance policy.
      Was this review helpful? 2
      , new delhi
      Reviewed on Aug 29, 2018
    • New India Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a two wheeler insurance with New India Assurance from last 5 years, i am happy with the coverage value of this insurance policy. I pay a premium of Rs 1100 for this insurance policy and i have no claim experience so far with this two wheeler insurance.
      Was this review helpful? 3
      , erode
      Reviewed on Aug 28, 2018
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