A Guide to Renewing Expired Bike Insurance

Bike Insurance Made Easy: How to Renew Your Expired Policy at Oriental  Insurance

All riders of two-wheelers in India are required to have two-wheeler insurance, also referred to as bike insurance. Along with acquiring the insurance, you must renew it on time in order for it to be current. Let’s take a look at how to successfully renew your two-wheeler policy on time.

Why is it important to timely renew your two-wheeler insurance policy? 

Two-wheelers continue to be the most popular form of transportation in India. It is necessary to have an active two-wheeler insurance coverage, whether you use it for your daily commute or only for leisurely drives on the weekends. 

Driving while in possession of a lapsed bike insurance coverage is prohibited and punishable. You could face a sizable fine if a traffic police officer discovers you driving about without insurance. In the worst-case scenario, getting into a car accident without having insurance could result in protracted legal proceedings and expensive fines. 

Failure to renew the policy on time prevents you from receiving the NCB even if you ride your motorcycle cautiously and without any history of collision (No Claim Bonus). You will be required to pay a higher renewal premium if the NCB is unavailable. * Standard T&C Apply

We’ll look at the process of bike insurance renewal now that you’re aware of how crucial timely renewal is. 

How is a two-wheeler insurance coverage renewed? 

You can renew your insurance using one of the two options described below, provided it is still in effect and has not yet expired. 

  • Online Renewal

A two-wheeler insurance policy renewal can be done online in a few easy steps. Visit your insurance company’s website for a bike insurance check online. Look for the “Renew existing policy” option. Submit the policy number. In addition to the available NCB (No Claim Bonus) and add-on covers, you will receive information about the policy. Choose the necessary augmentations and NCB information. You will receive an insurance quotation with the premium amount you must pay for the following year. Make the payment online (using debit/credit cards, digital wallets, or internet banking). You will get an email with a copy of the amended policy as soon as your payment is finalised. Get a copy of it and keep it on your person when using your bike. * Standard T&C Apply

  • Offline renewal 

You can finish the process offline if you don’t feel comfortable paying online. The steps are as follows: 

Visit your insurer’s local branch. 

Send the Bajaj Allianz two-wheeler insurance renewal officer your policy number. 

You will receive the renewal application from the officer. Complete the form, select the necessary add-on covers, and verify your NCB information. The officer will give you a high-end estimate. You can make the payment in full by writing a cheque or DD.

How can a two-wheeler insurance coverage be renewed once it has expired? 

To avoid fines and to keep your NCB, it is strongly advised that you renew your bike insurance coverage before it expires. Here are your options if you neglected to timely renew the policy. 

After a policy expires, the majority of insurers provide a grace period. You can keep the NCB and other advantages of your bike insurance if you renew the policy by the deadline. Access the website of your insurer, select “Policy Renewal,” and enter your policy number. Set the IDV (Insured Declared Value), choose the add-ons if necessary, and finish the payment. 

The majority of bike insurance firms often send the policyholder several reminders to inform him or her of the impending renewal. Check your email, SMS, or WhatsApp messages for reminders about renewals. As an alternative, you can set up a reminder to notify you when bike insurance renewal is due. This way, you can do it on time.

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