Insurance is like a spare tyre. You may not require it, but not having one is not an option.

How to Cancel Two Wheeler Insurance Policy?

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Insuring two wheeler vehicle is compulsory by law in India. The Motor Vehicles Act makes it mandatory for all owners to insure their vehicle and ensure timely renewal. This applies to two wheelers as well. Noncompliance can lead to imposition of fine and enforcement of other legal provisions provided in the act by government agencies. The insurance policy should cover third party liability by default, which implies damages to third party person and property caused by the insured vehicle should be a part of basic coverage.

The policy cover is generally valid for a year from the start date. There are times when the insured policyholder is mulling over cancelling the cover during the policy period due to multiple reasons. The reason can vary from discontent with the high value of premium paid to limited terms and coverage. With increased competition in the vehicle insurance market, the customer is often lured with schemes and offers, tempting him to switch over to a different insurer.

Is the Two Wheeler Insurance Cancellable?

Yes, it is. The policy can be cancelled not only after expiration, but also during the policy period. Not many are aware that the cover can be dissolved during the policy period. The general assumption is the policy has to run through the entire period of one year. However, cancelling the two wheeler insurance policy comes with certain conditions. They are as follows.

  • The cover can only be annulled if there are no claims made on the insured vehicle during the running policy term.
  • The insured owner should have made arrangements for alternate coverage, at least for third party liability and should produce documentary evidence to support the insurance cover.
  • In case of ownership transfer, existing policy cannot be cancelled unless provision of documentary evidence of alternative arrangement is made to support the insurance cover.

The bottom line is, you will not be able to cancel the insurance policy if you do not have an alternative insurance cover. The rule is that the vehicle should always be covered against liabilities.

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Process of Cancel Two Wheeler Insurance Policy

The insured owner is required to provide a notice of 7 days to the insurer in writing, of their intention to cancel the policy.

  • Contact the insurer, preferably by phone and express your intention to cancel the policy.
  • Follow the procedure provided by the representative and ensure that you notify them officially in writing, at least 7 days in advance.
  • Ensure availability of documentary evidence like the policy document if you bought an insurance policy for your two wheeler with a different insurer.
  • Mail or fax it to the number or address provided. You may also be asked to drop the paperwork at the nearest branch.
  • A minimum premium of Rs.100* will be retained by the insurance company and the balance will be refunded based on pro rata basis as per the timelines.

* Rs.25 in case of two wheelers designed/or modified for vehicles owned by blind/handicapped/mentally challenged owners.

Tip: If you’re contemplating on switching over to another insurer for your two wheeler for a lower premium, compare the benefits and features before making a decision to ensure that no compromise is made on these aspects.

How to Change Two Wheeler Insurance Policy? Reviews

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  • United India Two Wheeler Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I have my two wheeler insured with United India insurance from more than 4-5 years, there was no claim experience so far with this insurance policy. Rs 1000 has to be paid as a premium amount for this insurance. I am happy with the policy benefits of this insurance.
    Was this review helpful? 1
    , bangalore
    Reviewed on Feb 15, 2019
  • Bajaj Allianz Two Wheeler Insurance
    "Impressive policy"
    0.5 4.0/5 "Great!"
    Bajaj Allianz is one of the leading insurance company provider in Two wheeler insurance. 1 month ago, i have purchased this policy. They have provided me a 5 years continuous insurance policy and initially they have given 1 year policy which is cover for 100%. Its a zero depreciation policy. My dealer has recommended me about this policy from showroom.
    Was this review helpful? 0
    , pune
    Reviewed on Feb 15, 2019
  • Bajaj Allianz Two Wheeler Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I had taken a two wheeler insurance from Bajaj Allianz. The policy period is one year. I went to the dealer at the part of the sale, the person gave me insurance with them. It has zero dep which includes any scratches. I have no claim experience. I have received the insurance document.
    Was this review helpful? 0
    , chennai
    Reviewed on Feb 15, 2019
  • Shriram Two Wheeler Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    My two wheeler is insured with Shriram general insurance from last 2 years, a premium of Rs 1200 has to be paid for this insurance every year. I do not have claim experience so far with this insurance policy. The policy benefits and plan coverage is satisfactory.
    Was this review helpful? 0
    , chennai
    Reviewed on Feb 15, 2019
  • Oriental Insurance Two Wheeler Insurance
    "Cheaper policy in the market"
    0.5 4.0/5 "Great!"
    Recently I purchased Two wheeler policy from Oriental Insurance, its around Rs.1300 for one year, I have taken the basic plan its kind of third party plan , the policy cost is cheap, they gave me the best IDV value, I have unicorn cb 160. Depreciation value is around Rs.48,000 because its 3.5 old vehicle, I have taken the policy through online channel.
    Was this review helpful? 0
    , bangalore
    Reviewed on Feb 15, 2019
  • ICICI Lombard Two Wheeler Insurance
    "Costly Policy"
    0.5 3.0/5 "Satisfactory"
    Previously I had ICICI Lombard bike insurance, but the customer support is not upto the mark. Because one time I had claim experience, own damage happened, I took the bike to the showroom, I gave the papers to them, within 15 days I got my bike, I paid the amount from my end and got the reimbursement 65% of amount.
    Was this review helpful? 0
    , bangalore
    Reviewed on Feb 15, 2019
  • ICICI Lombard Two Wheeler Insurance
    "Very Good Policy"
    0.5 5.0/5 "Blown Away!"
    Bought my two wheeler insurance policy from ICICI Lombard. When i purchase the vehicle the dealer has provided the policy from ICICI Lombard and i have been renewing the policy for past 2 years. I have paid the premium amount of Rs. 1500 every year. I had no claim experience with them. Documentation process in fine. I used to renew the policy in dealer point.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Feb 14, 2019
  • United India Two Wheeler Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    The policy comes with the bike when i purchase from the dealer. I took the policy from United India. I need to check about the coverage value. I have paid the premium amount of Rs. 1000. I never called the customer care since i never had a chance to talk with them.
    Was this review helpful? 1
    , bangalore
    Reviewed on Feb 14, 2019
  • ICICI Lombard Two Wheeler Insurance
    "Average service"
    0.5 3.0/5 "Satisfactory"
    I have taken the two wheeler insurance policy is ICICI LOMBARD GENERAL INSURANCE. I have applied through on line only, and the premium amount which i pay on yearly basis, and i use to pay premium through on line.and they have not charged me hidden charges.
    Was this review helpful? 2
    , hyderabad
    Reviewed on Feb 13, 2019
  • ICICI Lombard Two Wheeler Insurance
    "Good Service"
    0.5 3.5/5 "Pretty good"
    I have taken the two wheeler insurance directly from the Royal En field Showroom and my Two Wheeler Model is Royal En field Classic 350 . The premium is good and the agent clearly explained the products the service was good according to me. I have not yet faced any difficulties till now not yet gone for claim and I am using the policy for the last 2yrs and the Overall service is good .
    Was this review helpful? 2
    , bangalore
    Reviewed on Feb 13, 2019
  • Reliance General Two Wheeler Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I have taken the two wheeler insurance policy with the RELIANCE GENERAL INSURANCE where i am using it since from last few years. The premium is nominal also the IDV value is satisfactory with this policy. The coverage is for 3rd party insurance.
    Was this review helpful? 1
    , namakkal
    Reviewed on Feb 12, 2019
  • Bajaj Allianz Two Wheeler Insurance
    "Better"
    0.5 5.0/5 "Blown Away!"
    I took my two wheeler insurance from Bajaj Allianz. They have given me very faster service when comparatively with the others. The customer service is also good. I have paid approx 2K for one year policy. I have not done any claim so far. It is a third party insurance.
    Was this review helpful? 1
    , hyderabad
    Reviewed on Feb 12, 2019
  • HDFC Ergo Two Wheeler Insurance
    "Its Good"
    0.5 4.0/5 "Great!"
    The insurance guys are spontaneous sharing the policy features, there is no claim experience. The premium is economical with HDFC Ergo and I have taken first party insurance bike its for bike protection with nice tie up with many service centers.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Feb 12, 2019
  • Reliance General Two Wheeler Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I had a two wheeler insurance with Reliance general for 3 years, i paid a premium of Rs 1500 for this insurance policy every year. There was no claim experience with this insurance policy. The policy benefits and plan coverage were satisfactory.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Feb 12, 2019
  • Iffco Tokio Two Wheeler Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I took my bike insurance in Iffco Tokio by last January. I have paid 1795 rupees to purchase the policy. The policy period is 2 years. I have received the insurance paper through mail but not received the hard copy. I have no claim experience. The benefits are good. It is a first party insurance.
    Was this review helpful? 0
    , bangalore
    Reviewed on Feb 12, 2019
  • United India Two Wheeler Insurance
    "Good Insurance Company"
    0.5 5.0/5 "Blown Away!"
    I taken two wheeler policy from United India, they give good response. My company got tie with them, the premium was around Rs.1680 for one year, My bike model is apache 160, insured value is good based on the purchasing year around seven years.
    Was this review helpful? 0
    , chennai
    Reviewed on Feb 12, 2019
  • Bharti Axa Two Wheeler Insurance
    "GOOD"
    0.5 3.0/5 "Satisfactory"
    I have taken the two wheeler insurance policy with the BHARTI AXA GENERAL INSURANCE and i am using it since from last 1 year. I have not experienced with any claim with this insurance. The premium is very good and the IDV is also satisfactory.
    Was this review helpful? 0
    , bhubaneshwar
    Reviewed on Feb 12, 2019
  • ICICI Lombard Two Wheeler Insurance
    "GOOD"
    0.5 4.0/5 "Great!"
    I have taken the two wheeler insurance policy is ICICI LOMBARD GENERAL INSURANCE where i am using it from last few years where i have not experienced with any claim with this policy. The premium and the IDV value is satisfactory with this policy.
    Was this review helpful? 1
    , ahmedabad
    Reviewed on Feb 09, 2019
  • Bajaj Allianz Two Wheeler Insurance
    "Its satisfactory"
    0.5 5.0/5 "Blown Away!"
    I make the premium amount of Rs. 2800 its a comprehensive plan, I have first party plan its only for me covered. I have pulsar 200x, when I go for the renewal they gave me the policy coverage on time. The customer support is nice and they responded well.
    Was this review helpful? 2
    , bangalore
    Reviewed on Feb 09, 2019
  • ICICI Lombard Two Wheeler Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I have purchased the two wheeler insurance policy with the ICICI LOMBARD GENERAL INSURANCE where i had no claim experience with this policy. I am holding it from last five years where the premium and the IDV value is satisfactory. The policy coverage is for comprehensive.
    Was this review helpful? 2
    , belgaum
    Reviewed on Feb 09, 2019
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