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.

    Two Wheeler Insurance Online

    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

  • Page 1 of 50 1 2 3 4 5
    • Reliance General Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I am having a two wheeler insurance with Reliance general from last 1 year, i am not aware of the premium amount for this insurance policy. I did not claim anything so far with this insurance policy and the coverage value is good in this insurance.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 13, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good Policy"
      0.5 5.0/5 "Blown Away!"
      My dealer has provided me a two wheeler insurance policy with ICICI Lombard when i purchase my bike. I have paid the premium amount of Rs. 2500. They have given me a 100% coverage and it covers for all the parts of the vehicle. Since the premium was high i was not continued with the same company and i had no claim experience with this policy.
      Was this review helpful? 0
      , mumbai
      Reviewed on Dec 12, 2018
    • HDFC Ergo Two Wheeler Insurance
      "Fine and Good"
      0.5 5.0/5 "Blown Away!"
      I have purchased a two wheeler insurance with HDFC ergo. I have renewed the policy last month. Since the premium amount is very low, i have selected this HDFC Ergo. I have paid the premium amount of Rs. 2200. They have offered me a coverage value of Rs. 2 lakhs. The vehicle has covered upto 80%.
      Was this review helpful? 0
      , mumbai
      Reviewed on Dec 12, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have not connected with the ICICI customer care service. I bought the policy in 2017. The dealer has provided me this policy when i purchase my bike. I have paid the premium amount of Rs. 5000. This policy has a coverage value of Rs. 50000. I have not claimed anything from this policy.
      Was this review helpful? 0
      , jodhpur
      Reviewed on Dec 12, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Good policy for vehicle"
      0.5 4.0/5 "Great!"
      Within a second they have renewed the policy from Bajaj Allianz. There is no particular reason for choosing a bajaj Allianz and the branch is nearby my location. The premium amount of Rs. 2070 per year. I have not claimed anything in this policy. I never interacted with their customer care also.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 11, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Good Insurance for two wheeler protection"
      0.5 5.0/5 "Blown Away!"
      The two wheeler services with the Bajaj Allianz is good, the premium amount is nominal, I have paid the cost around Rs. 1900 for one year, I have first party insurance and personal accidental cover. But there is no claim bonus available with this insurer.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Dec 11, 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 1 year, a premium of Rs 3000 has to be paid for this insurance policy every year. There was no claim experience so far with this insurance policy. I am happy with the policy benefits and plan coverage of this policy.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Dec 11, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      My two wheeler is insured with ICICI Lombard from last 1year and it is a good policy to use. I am happy with the policy benefits and plan coverage of this insurance. Rs 4000 has to be paid as an an insurance premium and i have no claim experience.
      Was this review helpful? 0
      , lucknow
      Reviewed on Dec 10, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      My two wheeler insurance is with ICICI LOMBARD from last 3 years, a premium of Rs 1900 has to be paid as an insurance policy. There was no claim experience so far with this insurance and the coverage value is good in this car insurance.
      Was this review helpful? 1
      , ahmedabad
      Reviewed on Dec 10, 2018
    • Tata AIG Two Wheeler Insurance
      "Low premium with better feature"
      0.5 5.0/5 "Blown Away!"
      The premium amount is too low in Tata Aig general insurance, as compared to other policies, the customer service is very fast they have generated my policy copy on time. I do have Bajaj pulsar bike its four years old, but offered me best idv value with third party cover.
      Was this review helpful? 0
      , keonjhar
      Reviewed on Dec 10, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Premium is should be economical"
      0.5 3.0/5 "Satisfactory"
      Based on the vehicle age they gave me some insured declared amount for the policy of one year. Its a comprehensive plan, it covers for the loss, damage. I never got any chance to approach, the amt which I paid its high, it should be economical hence many people affordable.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 09, 2018
    • Iffco Tokio Two Wheeler Insurance
      "Its Excellent"
      0.5 5.0/5 "Blown Away!"
      I got with the bike, I have purchased the bike before 1.5 years still the policy is active I have renewed it again. I received the no claim bonus around 25% because I didn't go for claim. They are proving good insured value based on the age. The features of policy is good.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Dec 09, 2018
    • Reliance General Two Wheeler Insurance
      "Good Protection"
      0.5 4.0/5 "Great!"
      I have check the online the price is very commendable, the premium amount is around Rs 1500 for one year bike policy. Reliance Insurance gave me best insured value, the policy which I taken is comprehensive 100% protected. I have TVS apache bike.
      Was this review helpful? 0
      , mumbai
      Reviewed on Dec 09, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Good overall"
      0.5 4.0/5 "Great!"
      My two wheeler insurance is from Bajaj Allianz. The services and response is good. I had a claim experience and the process was fine. I did not have to pay in anything from my end. All was done by the insurer. Overall no hassles in using the policy.
      Was this review helpful? 0
      , warangal
      Reviewed on Dec 08, 2018
    • Chola Ms Two Wheeler Insurance
      "Its Good"
      0.5 3.0/5 "Satisfactory"
      First time I took insurance from Cholamandalam, the premium amount is low. Dealer suggested this policy and gave this policy for bike, I have royal enfield it got insured with them. But I am not sure about the plan benefits anyway I am fine with that.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Dec 07, 2018
    • Reliance General Two Wheeler Insurance
      "No claim experience"
      0.5 4.0/5 "Great!"
      I used to do the renewal through online. I have been renewing the two wheeler insurance policy with reliance for past 2 years. I have not claimed anything by using this policy. I have not received the no claim bonus so far. I paid the premium amount of Rs. 2000 in a year. I'm not sure about the vehicle value. When i purchase a vehicle, the dealer has provided the policy with the reliance and I'm continuing with them.
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 07, 2018
    • Royal Sundaram Two Wheeler Insurance
      "Good Product"
      0.5 4.0/5 "Great!"
      I have agent who did it for me, he referred this policy. The premium amount is fine but I never compare I didn't done any valuation. I got the policy copy without any hassles. For two wheeler. I have taken third party cover but I am not sure about the benefits.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 07, 2018
    • L and T Two Wheeler Insurance
      "Good Two wheeler insurance policy"
      0.5 4.0/5 "Great!"
      Holding my L&T policy with last 2 years. I used to pay the premium amount of Rs. 4000 which is quite high. Because of the higher IDV value, i have selected this L&T policy. They have offered me a higher IDV value of Rs. 1.20 lakhs. I have renewed the policy through online. I have bought the no claim bonus of 30%. I had no claim experience with this company.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 07, 2018
    • Bajaj Allianz Two Wheeler Insurance
      "Average policy"
      0.5 5.0/5 "Blown Away!"
      I have not faced any problems with Bajaj Allianz Policy. My two wheeler insurance policy was taken with Bajaj Allianz. I have renewing the policy for continuously for 4 years. I have paid the premium amount of Rs. 1900 for one year. They have offered me a coverage value of Rs. 61000. They charging the penalty for late renewal of the policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 07, 2018
    • ICICI Lombard Two Wheeler Insurance
      "Better premium for best IDV for 3 years"
      0.5 4.5/5 "Excellent!"
      I have Star City bike its 2012 model, I took ICICI lombard bike policy because the premium was good when compared to other insurance company. I have reliance general insurance earlier, then I came to ICICI lombard providing three years tenure and the value of the bike remains same.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 07, 2018
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