As per the Motor Vehicles Act of 1988, if you want to ride a two-wheeler on Indian roads, then you have to insure the vehicle with a mandatory third-party insurance policy. Some people purchase comprehensive insurance for better protection of their bike. Regardless of which insurance policy you have, renewing it on time is important. However, some people may find it tedious to go to the insurance branch and get the process done. An easier alternative is online bike insurance renewal – it is easy, convenient, and time-saving. Let’s get to know how to get your bike insurance renewed online in a few, easy steps in this article.
1. Choose a reliable insurer
For many people, bike insurance renewal is also a time where they consider switching insurers. Now, before you finalize a new insurer, consider these factors to understand how reliable they are: claim settlement ratio, customer service, number of network garages, their experience in the insurance industry, and of course, the coverage they provide. If your insurance provider is well-established and you are satisfied with their services, then you may skip this step.
2. Go to the company’s website
It is always advisable to renew your motor insurance online through the company’s website and not any other site. You will find that, in most cases, the option to renew the policy is available on the home page itself. After you click on the ‘renew’ policy tab, you may be asked to provide the basic yet vital details – your insurance policy number and your vehicle registration number.
3. Fill in the relevant details
Now, you will be asked to provide relevant details and documentation to take the process forward. Necessary documents include your driving license, a copy of the vehicle registration certificate along with the RC number, and details regarding the insurance policy that is about to expire. Though these are some legally necessary documents as specified by the IRDAI, the insurer may ask for other documents as well.
4. Review the coverage
This step of the online bike insurance renewal includes reviewing your present coverage. If you have a comprehensive insurance policy, you may consider opting for add-ons that you do not have yet to increase the level of protection for your bike. Based on the coverage you choose, you will be shown the applicable premium. You can adjust the coverage accordingly.
5. Make the payment
After you are satisfied with the coverage and the premium, you can go ahead with the payment for the bike insurance renewal. It can be done through net banking, debit/ credit card, or via payment gateways.
A quick tip for the payment process: Avoid making online payments if you are in a public location or are using publicly available Wi-Fi. Ensure the payment is done in a safe environment, preferably at your home or office with your own private internet connection.
6. Access the renewed policy
If you have made changes to your policy, you will be given a new policy number. You can download the new insurance policy and keep it safely for further use. Some insurers send a copy to your registered email address, while others may send a hard copy to your residential address. Whichever may be the case, ensure that you have the policy documents with you when you are riding your bike.
Did you see how easy and convenient that was? So, the next time the renewal date draws close, consider renewing your motor insurance online.