6 things to keep in mind when renewing a two wheeler insurance policy

Renewing your two wheeler insurance policy is a must! Fail or forget to renew your policy and you could end up with a hefty fine or a rejected claim. Moreover, before you go ahead and renew your policy, there are a few things you must keep in mind to ensure that the process is a smooth and efficient one. That’s why the following article will highlight 5 essential factors you must bear in mind when renewing your motorcycle insurance policy.


  1. Renew your policy before it expires.

If you wait till your policy expires, then you would be forced to either not ride your vehicle or ride it uninsured. Moreover, if it lapses completely, the insurer might have to re-evaluate your vehicle before insuring it again. To avoid such scenarios, experts suggest that you renew your policy at least 45 days before your policy expires.

  1. You can go to a new insurance company.

It’s not a compulsion that you stick with your current two wheeler insurance provider. If you dislike their customer service or premium rates, you can surely look at other options and switch insurance companies. However, you must remember to do a thorough comparison before jumping ship. Read reviews of the new insurer, cross-check the new plan with your existing plans and go into the decision well-informed.


  1. Reviewing your coverage is important.

Your ‘protection needs’ could have changed since you first purchased your insurance policy. For example, you could now have a spouse who travels to work with you. In such an instance, you might find it useful to add the ‘Pillion Rider Add-on’. You could also increase the deductible to reduce your premium and unlock significant savings.

Basically, after using your existing plan for a year, you will have a better idea of what you need and what you don’t need, this allows you to adjust the policy accordingly before you renew the plan.

  1. You could go for a different type of policy.

You could also opt for a long-term two wheeler insurance policy when renewing your existing plan. This will safeguard you from the headache of yearly renewals. Moreover, long-term plans work out to be more affordable. This is because the third party insurance premium rate is locked at the current rate for three years. With a single year plan, you pay a higher third-party premium rate every time you renew the plan.


  1. Bear in mind your NCB discount.

If you haven’t made any claims during the coverage of your existing plan, you are eligible for a ‘No Claim Bonus’ when renewing your policy. This discount will be applicable on the renewed plan regardless of whether you stay with the same insurer, choose another insurance company or opt for a long-term policy.

  1. Keep your next renewal date in mind.

Once you’ve renewed your 2 wheeler insurance policy, make a note of the expiry date. Set a reminder or ask the insurer to have an SMS service in place to notify you when the expiry date nears. This will ensure you do not forget the expiry date and save you from riding uninsured.

We hope these 6 pointers ensure that you have a smooth experience and help you enjoy uninterrupted protection from the perils of the road. Good luck and ride safe!


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