• 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
    • ICICI Lombard Two Wheeler Insurance
      "Good Bike Insurance"
      0.5 4.0/5 "Great!"
      I've been using the ICICI Lombard bike Insurance for few years now and I'm happy about the annual premium I pay. Even though I never had any claim experience with them, I'm happy with their services. Their customer support is also good and helpful in case of any issue.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 24, 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 3 years, i am happy with the coverage value of this insurance policy. They cover up to 60-70% and i am satisfied with it. I do not have claim experience so far with this insurance and i pay a premium of Rs 4000 for this insurance.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 24, 2018
    • New India Two Wheeler Insurance
      " Two Wheeler Insurance with NEW INDIA"
      0.5 3.0/5 "Satisfactory"
      From NEW INDIA ASSURANCE i have taken a two wheeler insurance and the premium which i am paying was 1800. This policy have the accidental coverage for the bike and for the third party. There is no claim experience till now. The customer service was fine.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 23, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good"
      0.5 4.0/5 "Great!"
      Icici two wheeler insurance service is good. The payments are through cash. I use to pay my premium yearly directly as a cash. They use to intimate regularly through Sms. I am paying 1k yearly as a premium. It was an good experience with Icici two wheeler insurance service.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Apr 23, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good"
      0.5 4.0/5 "Great!"
      Icici two wheeler insurance service is good. The payments are through online. Also the online portal is easy for navigation. The process was been fast with Icici two wheeler insurance service. It was an good experience with Icici two wheeler insurance service.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 23, 2018
    • Reliance General Two Wheeler Insurance
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I have an two wheeler insurance with Reliance. The documents process was been smooth with Reliance two wheeler insurance service. I use to pay my premium through online. It was a excellent service with Reliance Two Wheeler insurance for my Bajaj Pulsar 220 CC bike.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 23, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      From BAJAJ ALLIANZ GENERAL INSURANCE i have taken a health insurance and the premium which i am paying was 13600. This policy have the accidental coverage for the bike and for the rider. There is no claim experience till now. The customer service and response was good.
      Was this review helpful? 0
      , kolkata
      Reviewed on Apr 21, 2018
    • ICICI Lombard Two Wheeler Insurance
      "best card"
      0.5 5.0/5 "Blown Away!"
      I had a two wheeler insurance policy in ICICI LOMBARD GENERAL INSURANCE. Since now i did not faced any issue like online transactions while am renewing the insurance. I feel very comfortable. I can recommend this ICICI LOMBARD GENERAL INSURANCE two wheeler insurance policy to my friends.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 20, 2018
    • HDFC Ergo Two Wheeler Insurance
      "good experience"
      0.5 4.0/5 "Great!"
      I had a two wheeler insurance in the prestigious insurer IE: HDFC ERGO GENERAL INSURANCE. I can say it is a one of the best insurance which i had . Mostly all plan benefits will cover under this policy. I can use their website to check the quotes and to renewal the two wheeler insurance policy on time. I recommend their services for my friends.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 20, 2018
    • Oriental Insurance Two Wheeler Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have a two wheeler insurance with Oriental Insurance from last 7 years, i do not have any claim experience so far with this insurance policy. The coverage value of this insurance policy is 60-70% and i am satisfied with it. I pay a premium of Rs 1200 every year for this insurance.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Apr 20, 2018
    • New India Two Wheeler Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      I had taken a two wheeler insurance policy from the top most private sector insurance company NEW INDIA ASSURANCE along with my vehicle. My annual premium is very reasonable by comparing with other insurance products and it is a Five year old policy.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 20, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I insured my two wheeler from the ICICI LOMBARD GENERAL INSURANCE company . I have recently renewed this policy for the second time. I have paid Rs,1200 to renew this two wheeler insurance policy from the ICICI Lombard. They give intimations to renew the policy on time which is very helpful from the ICICI LOMBARD GENERAL INSURANCE company.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 19, 2018
    • United India Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my two wheeler insured with United India Insurance from last 2 years, i do not have claim experience so far with this insurance. I am happy with the coverage value of this insurance policy. A premium of Rs 800-900 has to be paid for this insurance policy.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Apr 19, 2018
    • ICICI Lombard Two Wheeler Insurance
      "best policy"
      0.5 5.0/5 "Blown Away!"
      I had taken a two wheeler insurance policy from the top most private sector insurance company ICICI LOMBARD GENERAL INSURANCE. My annual premium is very reasonable by comparing with other insurance products which is 1900/-. . I can prefer online to renew my two wheeler insurance policy with in the due date. I had bought this two wheeler insurance policy along with my vehicle.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 18, 2018
    • New India Two Wheeler Insurance
      "Good Policy"
      0.5 3.5/5 "Pretty good"
      I have my two wheeler insured with New India Assurance 1 year back, i am happy with the coverage value of this insurance policy. I did not claim anything so far from this insurance policy. A premium of Rs 1200 has to be paid for this two wheeler insurance.
      Was this review helpful? 0
      , noida
      Reviewed on Apr 18, 2018
    • Liberty Videocon Two Wheeler Insurance
      "better experience"
      0.5 4.0/5 "Great!"
      I had taken a two wheeler insurance policy from the public sector insurance company LIBERTY VIDEOCON GENERAL INSURANCE. My annual premium amount is quite high by comparing with other premiums. I did not received my policy document by mail and hard copy too.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 18, 2018
    • HDFC Ergo Two Wheeler Insurance
      "best policy"
      0.5 5.0/5 "Blown Away!"
      I had taken a two wheeler insurance policy from the public sector insurance company HDFC ERGO GENERAL INSURANCE. My annual premium amount is Rs. 4000/- which is very reasonable by comparing with other premiums. I had received my policy document by mail.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 18, 2018
    • National Insurance Two Wheeler Insurance
      "best policy"
      0.5 4.0/5 "Great!"
      I had taken a two wheeler insurance policy from the public sector insurance company NATIONAL INSURANCE. My annual premium amount is Rs. 1600/- which is very reasonable by comparing with other premiums. I had received my policy document by mail.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 18, 2018
    • ICICI Lombard Two Wheeler Insurance
      "good policy"
      0.5 4.0/5 "Great!"
      I had taken a two wheeler insurance policy from the top most private sector insurance company ICICI LOMBARD GENERAL INSURANCE. My annual premium amount is very reasonable by comparing with other premiums. I had received my policy document to my registered communication address.
      Was this review helpful? 0
      , new delhi
      Reviewed on Apr 18, 2018
    • Iffco Tokio Two Wheeler Insurance
      "Average service"
      0.5 2.0/5 "Expected more"
      I have got the two wheeler insurance policy from the IFFCO TOKIO around 2 years ago. I have paid Rs, 1800 to get this policy from the Iffco tokio and this policy has the tenure of 2years. The customer support service and the response is good here, and they won't give the intimations to renew the policy on time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 18, 2018
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