During 2021, two wheelers have accounted for maximum fatal road accidents (69,240 deaths), contributing 44.5% of total road accidental deaths, followed by cars (23,531 deaths) (15.1%) and trucks/lorries (14,622 deaths) (9.4%). This statistic shows that motorcycle riders are highly vulnerable to being involved in an accident.
With insurance, you are protected against financial loss in the event that your vehicle gets stolen, damaged, or otherwise compromised in any way. It can also protect you against damages to any person or property belonging to a third party that you may be held responsible for. For a convenient and easy way, it is always recommended to buy bike insurance online.
In addition, if you ride your bike without being covered by third-party liability insurance at least, you could be subject to significant fines. When you renew your insurance policy for your motorcycle in a timely manner, you keep yourself protected against unanticipated costs. The procedure for renewing your bike insurance online is outlined in this guide.
How to renew bike insurance online:
1) Renewing your bike insurance policy via online portals
To update your motorcycle insurance policy online, you can follow these steps:
- Go to the website of your insurance provider.
- Enter the specifics of your existing policy.
- Include add-ons if you wish to.
- Keep in mind that your vehicle’s Insured Declared Value (IDV) serves as the basis for the premium estimate that is provided.
- You may be eligible for a No-Claim Bonus if you did not file any claims during the prior year.
- You can make a payment online using your credit card, debit card, or through internet banking.
- Get a printout of the transaction for your records.
- You would shortly receive an email with the digitally signed soft copy of your insurance policy. Within a few days, you may also get the hard copy mailed to you by the insurance company.
* Standard T&C Apply
2) Download the official mobile application of your insurance provider
Download the app offered by your insurance provider to ensure that you could be notified far in advance of any lapses in coverage that may occur. Even if you do not have access to a desktop computer or laptop, you can use the mobile app for bike insurance renewal while you are on the move. Although the specific actions could vary from one provider to the next, the essential approach will be the following:
- Download the official mobile app of your insurance provider
- Fill in all the relevant details pertaining to your bike and your existing insurance policy
- Accept all the terms and conditions
- You can use net banking or a card to pay the cited premium
- You can expect to get an instant confirmation of the renewal, as well as a digital copy of the policy, in your mail
* Standard T&C Apply
As you can see, the renewal of your bike insurance online or through an app is a hassle-free process that usually only takes a few minutes and guarantees that you will never be without coverage. You can also do a bike insurance check online for various policies before choosing one.
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.