Steps to Renew Two Wheeler Insurance Policy Online
Stop waiting for insurance agents, Renew your bike insurance online, See Steps
Renew Two Wheeler Insurance: There are companies who are providing a facility to renew a two wheeler insurance policy online within some minutes. What you need to do is login to the website or mobile app and submit the policy number and other required details. However, you always have better alternatives to buy a two wheeler insurance policy or renew the existing policy.
We suggest the following points mentioned in this article to see the steps to renew a bike insurance policy to get a better alternative and save money.
- First compare the options available in the market before buying a two wheeler insurance policy.
- Save money by comparing two wheeler insurance plans online.
Steps to Renew Two Wheeler Insurance Policy Offline
Bike insurance can be renewed by visiting the insurer’s office or calling agents of the company. All you need to know is your policy and vehicle details. You will need to fill the application form and provide necessary documents.
The branch may email your renewed insurance policy or can handover at the same time. If you want to buy new optional riders or add-on covers, you should inform the official and fill up the same in the application form. However, steps may vary from one insurer to another and it is always better to confirm the process by contacting your insurer before opting for additional covers.
Renew Two Wheeler Insurance Policy, Expired bike insurance renewal
Expired two wheeler insurance apart from attracting a penalty, may also lead to major losses in case of an emergency. If the policy is not renewed on time, you are no longer covered by the insurer for any damages, legal liabilities. We suggest renewing the policy before expiry date. If the policy is expired, the insurer may conduct a survey of the policy which may incur cost to you.
Facilities available when you renew two wheeler insurance policy
Renew insurance policy online:
You can renew or buy a policy over the internet. The process is convenient, fast and safe. You can login to the portal of the selected insurer and tap the renewal section and provide the details of your motorcycle or scooter. Details required by companies include make and model of bike, CC, manufacturing year, etc. Select the type of two-wheeler insurance plan and add-ons to boost the policy coverage. The policy can be downloaded immediately or the insurer will send you the policy document by email.
Switch to a better insurance provider:
You should compare the insurance plans and coverage provided by insurance companies before renewal of existing policy. You have the option to switch to a better insurance company.
Click here to know How to compare Two wheeler Insurance Plans?
Bike Insurance Premium Price for Two Wheelers
Recently IRDA has increased the price of third party bike insurance. This may lead you to pay more for two-wheeler bike insurance price for third party cover. The premium or policy rate of comprehensive policy is decided based on certain external factors. These factors are engine capacity, age, location, gender etc.
IRDA has proposed a rise of 4 to 21% in the financial year 2019-20. The highest rise of 21% will be noticed in two-wheelers with engine capacity between 150cc and 350cc. You can see the third party insurance rate below.
What are the Two Wheeler Third Party Insurance Rates, How Much Third Party Insurance Cost?
IRDA decides a two-wheeler third-party insurance premium cost based upon the engine capacity of the motor vehicle. See the list of bike insurance price –
| Third Party Insurance Premium Rate(Based on type of Two wheeler) | Old Price | Current Price(w.e.f. 1st June 2022) |
| Vehicle not exceeding 75cc | Rs. 482 | Rs. 538 (+12%) |
| Exceeding 75cc to 150cc | Rs. 757 | Rs. 714 (-6%) |
| Exceeding 150cc to 350cc | Rs. 1,193 | Rs. 1,366 (+15%) |
| Exceeding 350cc | Rs. 2,323 | Rs. 2804 (+21%) |
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