Is your bike insurance renewal due anytime soon? You might already know that it is mandatory to have your two-wheeler insured according to the Motor Vehicles Act, 1988. However, did you know that it is also crucial to renew it timely, and failure to do so can be illegal and face penal consequences?
Having said that, you need not worry too much about how to renew your bike insurance policy
on time. Earlier you might have experienced the lengthy and tedious old-fashioned way of visiting the insurer’s branch, but now the entire process can be done online and completely at the convenience of your own home.
So, without much further ado, here are the simple steps to renew your bike insurance online:
When renewing bike insurance online, following are some of the payment modes that can be used for easy access:
#1 Debit/Credit cards:
- The first step is visiting the insurance company’s website. Once you have logged in to your account, you need to locate the renew tab of the policies that are near its expiry or have already expired.
- Once you locate the two wheeler insurance renewal tab, provide the necessary details about your bike such as registration number, previous policy number, bike you want to insure, etc. At this stage, if you are switching your insurance company, you will also be required to provide details of the bike insurance policy held with the previous insurance company. Further, any no-claim benefits accrued also need to be specified at this stage.
- Next, confirm or modify the coverage you wish to have for the next policy tenure. Insurance companies allow you upgrade as well as alter your insurance cover. Downgrading is also possible; however, we do not advise the same for continued protection to your bike.
- At this stage, you also have the option to opt for a personal accident cover in case you do not have one.
One of the easiest modes to renew your policy is making using easily accessible debit or credit card facility. It helps to facilitate convenience at your fingertips.
#2 Net Banking:
If you are someone who is not confident of sharing card details, you can make use of the net banking facility. With transaction passwords, OTP based authentication along with 128-bit SSL connections offer some of the most secure transactions over the internet.
#3 Mobile wallets:
If you are a tech-savvy person, you might be familiar with the concept of e-wallets. Bajaj Allianz now offers the facility to use the balance from your e-wallet to proceed with two-wheeler insurance renewal.
#4 Unified Payment Interface (UPI):
Another upcoming payment mode supported by Bajaj Allianz in online payment for two-wheeler insurance renewal is UPI. Further facilitating convenience in renewal of your policy, a UPI transaction barely takes minutes that can help you renew your bike insurance online, swiftly without any hassle.
#5 Cash cards:
Using the cash card facility can also aid you in renewing your two-wheeler insurance cover. Cash cards are prepaid wallets where you need not have a bank account to use one. If you have an eligible cash card, making payment is easier is hassle-free amidst your busy schedule.
Using these different modes is how you can make an online payment for two-wheeler insurance renewal. Make sure you do not miss timely renewal of your policy and enjoy continued benefits without a break in coverage. Know more about two wheeler insurance online renewal after expiry
on Bajaj Allianz.