Tips to Manage Two-Wheeler Insurance Lapse and Renewal

A two-wheeler insurance policy must always remain active and should not lapse as we can never predict when things may go wrong. Keeping two-wheeler insurance active protects your bike from a host of risks that your bike could be exposed to. Also, even if you ride your bike carefully and do not renew your insurance policy on time, you will lose out on the No Claim Bonus during renewal.

Normally, when your insurance renewal is due, the insurance company keeps sending a communication through various modes. They send constant reminders that your expiration is near so that you don't miss out on the perks or ride the bike without any insurance policy. If you ever get caught without an insurance policy, you will be charged a hefty fine for the negligence. Therefore, you must always keep the insurance policy active to prevent any out of pocket expense, to claim the no claim bonus benefit and to avoid paying any fines.

Points You Must Keep in Your Mind During Two-Wheeler Insurance Renewal: 


  • If you know that your two-wheeler insurance renewal is on the horizon, then renew the policy well in advance just to be sure and to avoid missing the expiration date.
  • If you’re looking for an add-on option to the standard policy, you can ask your insurance company about the various add-on covers they offer and check if they provide the cover you want. Also, at the time of renewal, you must ask the insurer about the NCB and how much discount you can avail on the premium.
  • At the time of renewal, you’re entitled to receive No Claim Bonus in case you haven’t raised a single request for any claim during the term of the policy. NCB helps in reducing premium rates for the forthcoming years.
  • It is best to get your two-wheeler insurance renewal done online as you can customize the policy as per your needs and get a good deal as well. Get your vehicle surveyed before renewal if asked by the insurance company. It is recommended so that both you and the insurance provider know the existing damage (if any) on the two-wheeler. This way, the insurance provider won't deny you a claim request.


Purchase A Longer Duration Two-Wheeler Insurance Policy

A lot of times in spite of taking all the measures, one may still miss the period to renew the policy. For that purpose, the IRDAI introduced the longer duration two-wheeler insurance policy. This allows the person to pay the lumpsum premium amount, and there is no hassle to renew the policy annually. This plan is perfect for people who have extremely busy lives and are constantly on the move.

At times for various reasons, we still miss the due date for insurance, and our policy gets expired. However, one shouldn’t miss the due date of insurance renewal as you may be penalized; in addition, it will also lead to the loss of precious time and money. You can renew the policy online and get to enjoy the following perks:

  • The renewed policy gets issued quickly.
  • You don't have to pay any additional charges online.
  • You can compare plans from all insurers and see what suits you best.

So, if your policy has lapsed or expired, these are the alternates that you can follow and get an insurance policy back in no time.

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