The process of purchasing or renewing bike insurance has become hassle-free due to online insurance portals. Furthermore, smartphones have made this process even more convenient.
Read this article to check out the steps you need to take to renew bike insurance online.
Bike insurance is a type of motor insurance that covers a policyholder’s vehicle against damages. It helps in reducing the financial burden caused due to accidental damage or theft.
Any third-party liability caused due to the policyholder colliding with another property is covered under two-wheeler insurance. Two-wheeler insurance protects a customer against natural disasters such as earthquake, flood, typhoon, storm, cyclone, etc. Meanwhile, a customer can also avail cover in case his/her bike gets damaged due to human-made calamities like riot, theft, strike, terrorist activity, etc.
You may have researched a lot in buying suitable bike insurance, but you may not know how to renew bike insurance online. Timely renewal is necessary to avoid policy lapse and penalty, no matter you own a third-party or a comprehensive policy.
The Process for Online Renewal of Bike Insurance
You can choose to renew your bike insurance online by visiting the insurance company’s website or mobile app. These two sources are user-friendly as well as reliable. Read on to understand the process to renew bike insurance using these online portals.
Insurance Company’s Website
Many policyholders prefer this option because of the convenience it provides. Most of the insurance companies offer assistance in order to make the renewal experience hassle-free.
Here is a step-by-step guide on how to renew bike insurance-
- Visit the company’s website
- Select your two-wheeler policy
- Click on the renewal option
- Fill all the necessary details
- Review all the details before paying the premium
- Choose a payment mode and complete the transaction
- Once you pay the premium, an online copy of your insurance plan will be generated
Nowadays, a lot of individuals opt for mobile apps to complete online transactions. Smartphones have made the shopping process more comfortable as the users can carry out plenty of transactions effortlessly. Insurance companies are also shifting towards mobile apps in order to improve customer experience.
Follow the below steps to renew bike insurance with the help of a mobile app-
- Download the insurance company’s app
- Fill all the existing policy’s details
- Review all the details before moving on to the next step
- Read the terms and conditions. Agree to them when you finish reading
- Start the premium payment process
- After completing the transaction, you will receive your two-wheeler insurance plan via email
Renewing two-wheeler insurance is as important as buying one. Therefore, most experts recommend renewing bike insurance in advance in order to avoid riding uninsured. However, customers are also allowed to renew lapsed policies. Policyholders can even compare different plans before renewing their bike insurance. They can switch to a different insurance company to purchase a more affordable plan.