When searching for a commuting option in an Indian city, most people prefer a two-wheeler to a four-wheeler. The reason is that bikes are easy to manoeuvre and park. Also, they are low maintenance than cars. However, different people have different reasons for opting for a two-wheeler. Some are simply too fond of their bikes. But, on the other hand, some invest in a two-wheeler looking at the practicality of the situation.
Considering the road conditions in India, no matter which two-wheeler you choose for yourself, it’s important to safeguard it from sudden mishaps. Even though the Indian Motor Vehicles Act mandates a bike insurance policy, you need to ensure that your chosen online two-wheeler policy will offer maximum protection.
Hence, insuring your brand-new two-wheeler is a sensible decision on your part. It’s not just legally mandatory, but it is also required for the overall well-being of your finances in the long term.
How to Change Bike Insurance Company/Policy Online?
Suppose you quickly purchased simple bike insurance soon after bringing your two-wheeler home. And now you have realised the importance of having robust online 3rd party bike insurance. Such policies would offer better coverage and ensure all-around protection of your bike during any accidents. So, how do you change your policy now?
Here are a few ways by which you can change your already purchased bike insurance policy online:
- Online renewal – You can change your bike insurance plan at its renewal online. You can switch to a better insurer that can offer better coverage at affordable premiums. Tata AIG, for instance, offers robust online 3rd party bike insurance policies at the most affordable pricing in India. Their policy purchase process is easy as well.
- New ownership – If you have plans to sell your two-wheeler or if you wish to give it to someone else for use, you can easily transfer the insurance policy from the old owner to the new owner. However, you need to provide every detail of the new owner to the insurer to receive a new policy certificate.
- Within policy tenure – If you are not satisfied with your current policy, you might have a question in your mind, can I change my bike insurance company? You can switch to a new insurance company after cancelling the previous First, however, you need to ensure that you do not have any open claims with your existing insurer.
- Change in the model – If you plan to buy a new two-wheeler, you can transfer the bike insurance plan from the old one to the new one. However, to do this, your new insurer will verify the cost of your new vehicle and may adjust the cost of the premiums accordingly.
Factors to Consider While Changing an Existing Bike Insurance Plan
Now that you are aware of the ways of changing your old insurance for the bike, there are a few factors that you need to consider:
- Remember that not all good bike insurance plans need to be expensive. And choosing the right one is crucial for the safety of your two-wheeler. Hence, do some research online and then make an informed choice.
- You need to have a valid reason behind changing the policy. Do not just pick another plan to lower the premium costs. Choosing an inexpensive plan that cannot offer the right coverage is foolish.
- If you are changing the insurer, ensure that you go through their reputation in the market. You even need to consider their past claim settlement ratio and history with their customers.
So, are you ready to buy bike insurance online or change an existing one? Keep the above-discussed points in mind to choose the right one for yourself and to make an informed choice. Happy riding!