Your two-wheeler is your everyday companion - but riding without valid insurance puts both you and your wallet at risk. Bike insurance renewal isn’t just a formality, it’s a legal and financial necessity. Whether your policy is nearing expiry or has lapsed, this guide walks you through everything you need to know.
Why Timely Bike Insurance Renewal Matters
- It ensures continuous protection against accidents, theft, and third-party liability.
- Avoids legal penalties for riding uninsured.
- Keeps your No Claim Bonus (NCB) benefits intact.
- Prevents inspection hassles and premium hikes post-expiry.
What Happens If You Miss the Renewal Date?
If your insurance expires:
- You get a 30-day grace period (varies by insurer) to renew without losing NCB.
- After the grace period, your NCB is reset to zero.
- Policy renewal may require vehicle inspection and additional documentation.
- Riding without insurance is illegal and may attract a ₹2,000 fine or even imprisonment.
How to Renew Your Bike Insurance Online
Renewing with PolicyBachat takes just a few minutes:
- Enter your vehicle number and previous policy details.
- Compare quotes from top insurers.
- Choose the plan (renew existing or switch).
- Add/remove any riders like Zero Dep or RSA.
- Pay online and receive an instant policy copy via email.
What You Can Change at Renewal
At the time of renewal, you can:
- Switch from third-party to comprehensive cover (or vice versa).
- Adjust the Insured Declared Value (IDV) to match market value.
- Add optional covers like engine protection or zero depreciation.
- Switch insurers without losing NCB.
Test Case – Missed Renewal and Reinstatement
Example: Sahil missed his renewal deadline by 40 days. His NCB reset to 0% and the insurer required an inspection. The revised premium was higher, and coverage was delayed. Lesson learned: always renew before expiry or during the grace period.
Tips to Never Miss a Renewal
- Set calendar alerts or reminders a week before expiry.
- Opt for multi-year policies (2–5 years) to avoid yearly hassles.
- Provide your current mobile/email so insurers can send alerts.
- Use PolicyBachat’s renewal notification service.
Conclusion
Renewing your bike insurance on time isn’t just about compliance - it’s about protecting your hard-earned vehicle and financial peace of mind. With easy online renewal, competitive rates, and NCB benefits, there’s no reason to delay.