What are the ways to renew two-wheeler insurance?
If you own a motorcycle, you must be aware that you need to buy insurance. In India, driving without valid two-wheeler insurance means driving without a license. Both acts are considered a punishable offence. If you have never made a claim earlier, you must keep renewing them annually. Most are unaware there are several ways of renewing the policy.
Following are some of the easy methods for renewing bike insurance –
- Online
Considering we live in a digital age; it is excellent, to begin with, online renewals. Nowadays, you can do both – buy as well as renew two wheeler insurance online. You need to visit the insurer website and renew them in a few easy steps. Enter your name, contact details, motorcycle details, and policy number. Then, pay the insurance premium. These can be paid through debit/credit card, or via net banking. Some portals allow paying through digital wallets as well where you get cashback offers. You get to modify the plans by adding or removing some riders. If applicable, the no claim bonus is also at the perusal.
- Insurance companies
The other way is to visit the nearest insurance company office directly. A simple search can help you find the closest office to your home. The insurer address is also mentioned in the policy document. If you opt for this route, make sure to take your bike insurance file along. This helps in having a clear conversation with the company representative, especially concerning NCB. Carry the renewal reminder letter to the insurer, driving license copy, and registration certificate along with cheque book, and passport-sized photographs. Carry all the papers for verification.
- Agent
An insurance agent can legally represent only one company at any given time. Insurance agents are skilled at their task and possess in-depth knowledge about different plans offered by the insurance companies as they receive extensive training concerning the products and services provided by various companies. Such agents are trained to understand client needs and offer facilities based on the same. The agent helps you buy and do two wheeler insurance renewal and recommend riders as well.
- Broker
As insurance agents, brokers are trained and licensed who help buy and renew bike insurance plans. However, brokers represent more than one insurance company. An insurance broker is ideal if you wish to compare different plans offered by various insurers. Brokers possess in-depth knowledge of multiple schemes and add-on covers. They offer suggestions based on your requirements.
Whether you opt to do two-wheeler insurance renewal offline or online, broker, agent, or insurance company, never skip renewing the policy for receiving desired protection and coverage.
