Renew Bike Insurance Online

Bike Insurance Renewal

A bike is every youngsters dream. For some it is medium of daily commute, while for some it is a means of getting that adrenaline rush. And, when it’s about getting yourself a bike, buying the right financial security to take of sudden accidental damages is vital too. After all you do not want any financial crunch to put a halt on your bike rides. And, as third-party bike insurance is mandatory as per the Motor Vehicle Act, 1988, you don’t want to ride on India roads without a bike insurance plan. Having said that, renewing your two wheeler insurance policy is as important as buying it the first time. Wondering what could happen if you miss renewing your bike insurance plan? Read on to understand why you should consider two wheeler policy renewal.  

Why Should you Renew your Bike Insurance Plan?

Just as getting a bike insurance plan is important when you get yourself a bike, it is equally important to get your two wheeler insurance plan renewed on time. After all, you do not want to miss out on continuity benefits of your bike insurance plan. Moreover, timely renewal is a must so that you have an active two wheeler insurance policy, in case you were to encounter accidental damage.

So, here’s why you should renew your bike insurance plan:

• Third-party bike insurance is mandatory

With third-party two wheeler insurance being mandatory as per the New Motor Vehicle Act, you don’t want to get caught driving an uninsured vehicle.

• To stay covered

Bike rides could bring in the risk of accidents that come unannounced. And, with not active bike insurance policy in place, you could be left with not financial cover to take of the losses. Hence timely bike insurance policy renewal is important.

• NCB may get lapsed

Insurers in India offer No Claim Bonus or NCB as a reward for not filing a single claim in the previous policy year. To ensure that your NCB benefit is intact, it becomes important to renew your policy in time.  

What are the Types of Bike Insurance Plans offered on Bajaj Markets

Insurers today, understand the needs and requirements of their customers when it comes to getting a financial protection for your bike. That is why, at Bajaj Markets, we have two wheeler insurance plans designed to fit your needs and your budget that is best suitable for you.

1. Third-party Bike Insurance

If you are some one who is looking for a basic financial backing, third-party bike insurance is a plan for you! This plan offers coverage for financial liabilities towards a third-party incurred due to an accident. It takes care of financial losses incurred due to damage to third-party property or injury to a third-party. Moreover, third-party bike insurance is mandatory as per the Motor Vehicle Act, 1988. Riding on Indian roads without a third-party bike insurance cover to result is penalty, imprisonment and sometimes, even both. So, getting a third-party plan remains crucial for every bike owner.

2. Comprehensive Bike Insurance

A comprehensive Two-Wheeler Insurance policy is an all-round plan that combines the benefit of coverage for third-party damage and own damage. It covers a two wheeler against any damage or loss incurred due to an accident, natural or man-made calamity, burglary, riot, and other such scenarios. A comprehensive Two-Wheeler Insurance also comes with a personal accident cover for the bike owner. So, if you are looking for a plan that offers greater scope and financial coverage, comprehensive bike insurance is the right choice for you, despite having to pay a slightly higher premium for it.

You can get an instant quote for the plans available on Bajaj Markets by using our bike insurance calculator. It will give you an estimate of the premium amount of your chosen insurance policy. That way you will be able to take an informed decision while selecting the policy coverage that fits your budget.

Best Bike Insurance Plans At Bajaj Markets

Bajaj Allianz Two Wheeler Insurance

Acko Two Wheeler Insurance

Things to Keep in Mind while Renewing Bike Insurance

Your two wheeler insurance renewal date is nearing? While you are getting your bike insurance policy renewed to enjoy continual benefits, it is important to keep a few important things in mind.

• Type of Plan

Whether you need affordable yet limited financial protection with a third-party bike insurance plan that allows you to be legally eligible to ride on Indian roads or you need a 360-degree financial protection for your bike, the choice is yours. It’s time you pick the plan you need as per our needs.

• Look up Online

Before getting bike insurance renewal done, it is advised that you do a thorough research online to understand the coverage, features and benefits of the plans before making the be-fitting choice. With multiple plans from multiple products on Bajaj Markets, we make it this step easy for you!

• Renew on Time

Timely bike insurance renewal is a must! This not only ensures that your policy benefits are intact, but also ensures that you are not stranded on the road with an in-active two wheeler insurance policy which cannot be claimed, while in an emergency.

• Coverage

Bike insurance renewal does not just mean keeping the policy going. It also gives you a chance to enhance your coverage with the help of add-on covers such as zero depreciation bike insurance that you can opt for by paying a nominal premium over and above the premium for your comprehensive bike insurance plan.

• No Claim Bonus

Bike insurance renewal means NCB benefit that offers discount of your premium for a successful claim-free policy year. Make sure you keep a check on this to make the most of your plan.

Check Out Bike Insurance Plans Available at Bajaj Markets