The importance of acquiring a two-wheeler insurance needs no elaboration. It is mandatory by the Law that every two-wheeler rider must have in their possession, a valid license as well as insurance policy. Otherwise, when checking on the road, the rider will be taken to task for failing to produce both.
Once obtained, it becomes imperative to renew two-wheeler insurance before expiry and keep it valid. Let us see here how you can renew your insurance cover easily online.
Why is the renewal necessitated?
When you buy a two-wheeler and ride it on road, there is always the likelihood of many risks and unfortunate events occurring. The meaning of the very word “accident” is it can happen anytime unexpectedly – by your fault or by the fault of anyone else.
Whatever the reason of the accident, the ultimate damage is borne by you, and if any third party gets hurt or damage caused to their vehicle or property, you have to bear the legal liabilities of making good of the losses. It is therefore, immensely necessary that you keep your two wheeler insurance valid and enforceable always.
You need to renew two wheeler insurance for the following reasons –
- Legal Obligation that requires you to possess a valid insurance cover
- Your own security and safety to overcome any financial or physical damages to you, your two-wheeler, any third party physically or damages to their vehicle and properties.
- Continued coverage of risks involved without break or lapse
- To enjoy the benefits of prompt renewal of license offered by the insurance company, by way of discounts and No Claim Bonus etc.
- Above all, the mental satisfaction that you can enjoy riding your bike or any other two-wheeler worry-free
Procedures involved for renewal of two-wheeler insurance:
The Insurance Cover is a legal contract between the insurance company and the owner of the vehicle. The terms and conditions of coverage are clearly enumerated by clauses in the insurance policy. Importantly, the Sum Insured by the insurance company is based on the value, the condition of the vehicle, the possibilities of risks that may occur etc.
In the case of new vehicles, the Insured Declared Value (IDV) is calculated by the insurance company, based on the bill for the purchase of the vehicle and additional fitments of parts, if any.
But if the originally issued insurance policy is to be renewed, there are many questions raised by the insurance company, with regard to all the above factors. Normally, when the insurance policy is renewed for another term by the same insurance company, they will go by their own record about the vehicle tendered by the owner, at the time of the first policy.
If you want to change the insurance company to renew two-wheeler insurance of your vehicle or allow the original policy to lapse and then want to make the renewal at a later date, the insurance company will insist on sending an assessor, to see the vehicle physically and give the observed details to the insurance company.
The vehicle owner has to produce all the necessary documents of proof for identity, address, vehicle registration, license and also a copy of the previous insurance policy etc.
How to Renew Two-Wheeler Insurance easily online?
Now that we have the internet facility, both purchases of Vehicle Insurance, as well as renewal thereof, have become so easy.
- All the popular insurance companies have their websites, where you can get all the details pertaining to your Vehicle Insurance
- You have many options open for you – to select the Best Insurance Company if you want to renew Two-Wheeler Insurance; best benefits accruing by buying their policy; and also the deductions or discounts available for such policies etc.
- You can use many updated software tools, to compare between policies issued by selected companies and the conditions thereof. Insurance Premium Calculator can help a lot, in saving hugely by picking the right policy for you, based on different circumstances, conditions and eventualities etc.
- You can leisurely study the clauses for exclusions, inclusions of coverage, additional coverage items if needed etc. to get a perfect insurance policy that can fulfil your requirements squarely.
- Interaction with the insurance company is very easy; and there is no chance for time-delays for correspondence, submission of documentary proofs etc.
- Online insurance companies are flexible in issuing Two-Wheeler Insurance from one year to three years, at a time.
- You will get periodical reminders about your policy renewal date etc.
Forget them all. Here is another short-cut. Just contact Coverfox Portal where you can Renew Two-Wheeler Insurance in a jiffy!