Registration, PUC and insurance are the compliances that every bike owner must adhere to. Registration is required once in fifteen years, generally enough to suffice the life of your vehicle. But PUC and insurance are periodic requirements, biannually and annually respectively. The PUC test checks for the emission of your vehicle thereby not requiring much hassle. However, insurance is often regarded as a baffling process. The reason being myriad options available. In addition to that, the different types of policies, i.e. a third-party cover or a comprehensive plan that is best suited for different purposes and coming to terms which is right for you involves efforts and time. To bypass this, there is reluctance among people in two wheeler insurance renewal. This unwillingness leaves them uninsured and exposing others to risks of accidents and damages. This article mentions a few reasons as to why there is hesitancy in renewal of bike insurance online and offline.

  • Pre-inspection required at each policy renewal: When you purchase a bike insurance policy, the insurance company inspects your vehicle for any dents or damages that already exist prior to offering insurance coverage. This is done so that the liability of repairs for such damage does not lie on the insurance company, but instead you. There is a myth that each bike renewal requires a pre-inspection, but it is only one side of the coin. But in reality, if there 90 days have elapse after the end of the policy cover, then the policy benefits like NCB lapse requiring you to purchase a fresh insurance cover. You can visit the official website of IRDAI for further details. Only at such time, an inspection is required. In all other cases for renewal before the end of policy term, no inspection shall be made. A mere self-declaration is sufficient. Thus, a misconception on renewal procedure creates a reluctance in renewal of bike insurance online and offline.
  • Renewal of insurance plans is tedious: In 2021, renewing bike insurance is a breeze. All you need to do is a few clicks and your policy is renewed within minutes. Digitisation has helped facilitate the entire online buying and renewal process wherein without having to visit several insurance companies and compare its features and two wheeler insurance price, you can do it from the convenience of your home.
  • Notion of online renewal not being secured: There is a common notion for non tech-savvy individuals believing that online renewal isn’t secure. On the contrary, online purchase of bike insurance policies uses secure encryption for transmission of payment and data thereby making it secure. The information, personal, vehicle related, and payment is encrypted in so that it isn’t disclosed to anyone other than the insurance company.
  • There is no option to change your insurance company: Another reason as to inhibition to renew policies is that the insurance company cannot be changed at renewal date. However, this isn’t the reality. An insurance policy is valid for a specified duration after which it can be changed or even upgraded. Along with it, any accrued benefits like the no-claim bonus or NCB are also transferable at the time of change. Moreover, all of this can be done online. You can visit the official website of IRDAI for further details.

Now that the above pointers clear the different notions about bike insurance policy and its renewal, make sure you do not fall prey to these misconceptions and renew your policy on time. Also keep in mind that insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.