Bike insurance is a regulatory mandate for all two-wheeler owners. While registration and PUC are the commonly known compliances, bike insurance is often overlooked. The Motor Vehicles Act of 1988 lays down its requirement, and not abiding by it, attracts fines and penalties.
But apart from legal compliance, a bike insurance plan offers benefits of financial protection—coverage against the expensive cost of repairs, including legal liabilities that become payable to a third person. These coverages include protection from steep repair costs due to an accident, fire, natural calamities, man-made perils, and even compensation for theft. Hence, you must wisely choose a plan from a third-party policy or a comprehensive policy.
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Just like it is essential to buy a bike insurance policy, it is equally important to ensure that it is timely renewed. Since these plans are valid only for a limited duration, they need to be renewed on time, if not in advance, for a continued insurance cover. A break in policy cover may attract fines as well as exposure to risks. So, to ensure continued insurance coverage, you must speed up the bike insurance renewal process. And what better way than opting to renew bike insurance online
Renewing bike insurance online helps eliminate processing times. Any lag in approaching either an insurance agent or the branch office of the insurance company is removed in effect, ensuring prompt renewal. All leading insurance companies, including Bajaj Allianz General Insurance Company, offer online insurance renewal
, helping you avail of quick and hassle-free renewal of your policy.
Here are a few reasons how online renewal of your insurance plan help
· Savings in time
The foremost reason to choose online renewal is the efficiency (in terms of time). An offline policy renewal would either mean you take time out of your busy schedule to travel to the insurance company’s office or talk to an insurance agent. With online bike insurance renewal
, you need not worry about coordinating with the insurance agent or visiting the insurance company’s branch. You can renew the policy at your convenience.
· Ease of comparison
Followed by saving time, online renewal helps to effectively compare the multitude of available plans. Effortless comparison is possible by using the tools like a bike insurance calculator that helps the head-to-head comparison of the different policies, not just based on the price, but also on the features that matter the most.
· Website-only benefits
In a digital-first age, many insurance companies introduce separate insurance plans that are offered exclusively online. These policies, at times, are priced affordably and come with some exclusive features for online-only plans. Thus, online insurance renewal can offer special benefits in some cases.
Here’s a four-step guide to renew bike insurance online
It starts with visiting your preferred insurance company’s website and looking for the renewal section. At times, the renewal option may be found after logging in to the account of your insurance plan that is active or expiring soon.
At this step, your existing policy details are pulled up by the system on inputting the existing policy number.
Once the policy details are imported, you can choose the insurance coverage along with add-ons at the time of renewal. In addition to that, the amendment of any existing details is also possible at this stage.
On finalizing all policy details, you can make the payment online. Since the entire process is online, you can get instant delivery of the insurance plan in your mailbox.
Make sure to not wait for the eleventh hour for renewal, as undertaking research about the policy coverage is also essential at renewal. Therefore, start early so that you have ample time to compare the available options for suitable insurance coverage.
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.