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Considerations to Make While Changing Your Two-wheeler Insurance Policy

By Juhi Walia
14 October 2022, 11:56 AM

Maintaining your two-wheeler insurance aids in both upholding the law and protecting your financial interests from responsibility resulting from your vehicle's involvement in an accident that damages a third party's person or property. Comprehensive insurance coverage also pays for repairs and replacements for damage to the insured vehicle along with covering third-party liabilities .

You have the choice to transfer insurers and alter your two-wheeler insurance coverage if you are not satisfied with the present one, regardless of whether it is a short-term or long-term bike insurance policy. You can modify the protection and the insurer based on the terms and conditions. The specific details of adjusting the two-wheeler insurance will be discussed in this post.

Changing Your Bike Insurance Policy

In general, it is simple to change your two-wheeler insurance policy. However, it becomes difficult when you decide to do it. The instances and procedures for renewing an insurance policy are listed below.

When You Renew It

The easiest time to select a different bike insurance plan is right now. A policy is an agreement that lasts for a certain amount of time. The contract expires after the specified period, at which point you are free to choose another one given by the same insurance provider or one from a different provider.

The procedure for renewing bike insurance is comparable to purchasing one. Hence, there is no need to be concerned about the difficulties brought on by a different approach. If applicable, your No Claim Bonus (NCB) will be kept if you select another insurer.

If You Choose to Renew it While the Policy is in Effect

You can switch insurers while your insurance is in effect, though doing so is not advised. Instead, discuss your choice with your current insurer and adhere to their procedures. You can quickly buy new insurance online, but make sure your old one is cancelled, and the new one is active now. If your old policy is terminated and your new one is not yet in effect, you should not ride your bike.

Switching Ownership

An insurance plan is specific to a vehicle. Therefore, you must change the insurance coverage for your two wheeler in the name of the new owner if you sell it. Typically, transferring the insurance policy is the duty of both the seller and the buyer. The crucial step is to finish this procedure as soon as possible to prevent legal repercussions.

When You Buy a New Bike

For a new bike, you'll need to buy a new insurance plan. Do not rely solely on your bike dealer regarding your vehicle's insurance. Although it might be practical, it isn't always fruitful. Due to their affiliations, the bike dealer may limit your options to a select group of agents or insurance providers. You don't have to get new two-wheeler insurance from a bike dealer; you can do it online, as needed.

When Your Bike Insurance has Lapsed

You should avoid being in a position where your insurance has expired. It is a crime to ride a bike with an expired bike insurance policy. In addition, a subsequent gap between the expiration of one policy and the application of a new one makes you eligible for a vehicle inspection, which raises your premium. Additionally, the accrued NCB will be forfeited if the gap lasts longer than 90 days.

Renewing Your Bike Insurance Policy

Online - You must first determine whether you want to remain with the same insurer and coverage level before renewing your two-wheeler insurance policy online. If both questions are affirmative, visit the insurer's website, log into your account, and restore the policy by paying the required fees.

It will take some time to investigate and locate the ideal policy that satisfies your needs if you want a different cover or are wondering how to switch your bike insurance company. To review the coverage and obtain free estimates, you can use aggregator sites or bike insurance calculators on individual insurers' websites.

Offline - To renew your bike insurance offline, contact a licenced agent or go to a company's branch office. People find this problematic because it typically requires filling out forms and submitting papers. It is advised to renew your bike insurance online for a convenient and practical experience.

Read more - Should You Renew Your Bike Insurance Plan Online or Offline?

Considerations for Purchasing or Renewing a Bike Insurance Policy

The following is a list of considerations you should make while ordering or renewing your bike insurance from an online insurance company.

  • Analyzing your needs for bike insurance and reviewing your present coverage should be your first order of business. You can choose to increase or reduce your cover depending on it.
  • The decision to renew your policy with your current insurance company or with an insurer recommended to you when you first bought the policy is also very important. Examine the bike insurance options and choose wisely.
  • Don't forget to evaluate the advantages and features of various online bike insurance plans. This will assist you in locating the coverage and pricing combination that works best for you.
  • When buying an insurance policy, always read the fine print. All the information required to understand the policy's terms and conditions is contained in the policy wordings. The insurance website has a download link for the same. On the website, the material is generally presented in an educational way. Never hesitate to contact the customer service department of your desired insurance provider by phone or email if you have any questions. 
  • Don't only consider bike insurance from a legal perspective. It is a strategy for reducing monetary losses. Opt for a comprehensive bike insurance policy and a customer-friendly insurer. 

Read more-


1. How do I change my bike insurance coverage?

You must notify your current insurer at least seven days in advance to accomplish this. Then, you can sign a new policy with the desired insurer in the interim. After the new insurance company issues the cover, you must present documentary proof to cancel the previous insurance policy.

2. How can I update my bike insurance with a new name and address?

You can do this by sending a letter and documentation of the updated information to the insurer. The insurance company will take the required steps to implement the modifications after evaluating the proof.

3. Can I switch my bike insurance provider after the policy has expired?

Yes, you can change your bike insurance coverage after it expires during the renewal process.

4. What happens if my motorcycle insurance isn't renewed?

Your bike insurance policy expires if you don't renew it before the deadline. Your insurer is no longer obligated to support you financially or to consider any of your claims if the policy expires.

5. Do we have to pay a penalty for not having insurance for a two-wheeler?

It is against the law in India to ride a two-wheeler without third-party insurance. According to the Motor Vehicles Act, enforcement authorities may charge you a fine of up to INR 2,000 and/or imprison you for up to 3 months.

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