Your Bike is your companion. It is your ticket to freedom and your comrade on treacherous roads.
However, your companion is only as strong as your care for it. To ensure performance, your bike requires regular maintenance and upkeep. Most of us take great care of our bikes from giving it the regular Sunday wash to servicing it every two months.
One of the key aspects of upkeep is having your two-wheeler insurance policy renewed.
Renewing your bike insurance ensures that your policy remains live, securing your life and property. Most insurance companies offer this service online via their websites and mobile applications.
The renewal process is fairly simple. You log onto the website of your chosen insurance provider, put in your policy number, mobile number and vehicle registration number. You can then add all the necessary add-ons that you would like to include within your insurance policy. You will get a quote for the premium that which you may pay using various internet payment methods (IMPS, UPI, NEFT, wallets etc) and renew your policy.
Sometimes, you may have to shift cities or buy a new bike. You may also attach accessories like a new GPS system to enhance your biking experience. A better bike also requires a better insurance policy.
A little upgrade in your insurance cover can go a long way in saving you from accidents, on the road and off it. Here are a few things to keep in mind :
- Natural or manmade calamities can lead to severe damage and loss to property, not covered by your basic third party cover. Thus, at the time of your next renewal, consider investing in a Comprehensive insurance policy which covers your basic third party liability and covers damage or loss due to calamities like floods, thefts, riots etc. at a slightly higher premium rate.
- It is important to keep a track and compare the premium rates from different providers. Some providers offer lower premium rates if you have an anti-theft device on your bike. You can even avail discounts of up to 5% on the premium if you pay online!
- Insurance claims can be tricky. You must compare the claim process of various providers. For example, Bharti AXA offers round-the-clock claim assistance making the claim process customer friendly and worry free.
- You can invest in a long-term insurance policy which you renew after a period of 3 years. This saves you from the trouble of renewing your policy every year. Other benefits of a long term policy include no hike in annual premium rates along with a higher return in your No Claim Bonus (NCB).
- If you forget to renew your policy, it lapses causing loss of NCB and a higher premium levied on you. This can be repaired if the policy is renewed within 90 days of expiry by some providers like Bharti AXA. They offer break-in insurance which prevents loss of NCB and saves your cover if renewed within stipulated time.
These adjustments in your two-wheeler insurance policy add an extra layer of protection, keeping you and your trusted companion safe.