For most of us, our two wheeler is a sense of pride and an object of necessity. A two wheeler insurance policy is an absolute necessity if you are looking at protecting your vehicle against third party liability, unexpected damage and theft. A two wheeler insurance policy can come to your rescue and can save your precious pennies by covering the costs for repairs and damages. But, just purchasing an insurance policy for your beloved two wheeler won’t suffice. You must be attentive and careful enough to renew it before the policy lapses. Sometimes, it just happens so that you notice the renewal date only after it has passed by. You might have been on a vacation or loaded with work due to which the policy renewal date would not have crossed your mind. Even after a two wheeler insurance policy has lapsed, you can renew it online. Follow the easy steps detailed below to renew your expired insurance policy without any hassles.
- Finalize an Insurance Provider
You have to zero-in on an insurance company that offers the most competitive premium for your vehicle’s age and model. You can make use of third party comparison sites to compare the features of various insurance policies in the market.
- Get your Vehicle Surveyed
If you are getting your insurance renewed, you must also get your vehicle inspected by a surveyor to ascertain pre-existing damages. If there is an existing damage, your vehicle could be denied an insurance. Also, if the extent of the damage is less, the damage could be excluded from two wheeler insurance coverage. You might also be charged a basic nominal fee by your insurer for the inspection irrespective of if there is a damage or not.
- Purchase the Policy
Once the inspection is done, you are ready to buy a two wheeler insurance. With some insurers, you have to purchase the policy within 24 hours after inspection. You can also choose to purchase the policy online.
- No Claim Bonus (NCB)
In most of the cases, if the policy has lapsed for more than 90 days, you will not be getting the No Claim Bonus. NCB is the discount on yearly premium and this could prove to be a major loss if you have no claimed it for the past 3-4 years.
- Renew your Policy Online
If you are planning to again take a policy with your previous insurer and the policy has lapsed, you can call your insurer to get more information on how to renew it again. After an inspection, you will be able to renew your insurance policy online.
To drive a two wheeler that is uninsured and without a valid third-party cover is a liable offence in India. Hence, it is very important to keep your two wheeler insurance policy up to date and valid. You can set up renewal reminders to help you renew your policy on time. Even if your policy has lapsed, you must take all necessary steps to renew it immediately so as to avoid having to pay dearly for an accident or an unexpected mishap.
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