Two-wheelers are, without a doubt, the most practical and affordable mode of transportation to get you anywhere, whether it’s a winding country road or a crowded city. This comfort has led to an increase in the number of two-wheelers on the road, which is increasing annually.
However, the country’s poor road conditions make two-wheelers more likely to be involved in accidents. Buying insurance is crucial for riding a two-wheeler in India. It safeguards you and your vehicle and covers personal injuries, third-party liabilities, theft, and both natural and artificial disasters. What occurs if you don’t renew your bike insurance after it expires? In this article, let’s learn more.
Natural disasters like floods, earthquakes, and others cause significant infrastructure and property damage in India. Still, getting a thorough bike insurance policy can ensure that your priceless vehicle is always protected. Additionally, it may assist you and your car in remaining safe in uncontrollable events like theft, fire, explosion, riots, terrorism, or vandalism.
Failure to Renew Expiring Bike Insurance Is A Serious Issue
The key to protecting your vehicle and yourself is timely Bajaj Allianz two-wheeler insurance renewal online, and failing to do so can cause various issues.
Regulations: Every vehicle owner is required by the Motor Vehicles Act to carry at least third-party motorcycle insurance.
Increasing Costs: A thorough two-wheeler insurance policy acts as a helmet to protect you from numerous dangers and catastrophes. Failure to renew an approach can significantly raise the high costs of repairs, which could hurt your finances. What happens if an accident occurs while your insurance is no longer in effect?
Loss Of NCB: When you don’t make any claims during your policy term, you receive a No-Claim Bonus (NCB). You can retain NCB, potentially up to 50% of the premium, by renewing the policy within the grace period. *
It Takes Time
It is always preferable to renew your two-wheeler insurance policy in advance rather than after it has expired. The process can be time-consuming because renewing two-wheeler insurance is similar to purchasing a new approach. You would have to have your motorcycle inspected and even risk having your insurance claim denied.
Select A Reputable Insurance Provider
In light of the considerations above, it is essential that you keep your bike insurance policy current and only ride with it. Setting a reminder for a few weeks before the Bajaj Allianz 2-wheeler policy renewal deadline is sensible. This will give you ample time to evaluate your current insurance coverage, compare it to the new options, and renew your insurance after making a well-informed decision.
In conclusion, renewing your two-wheeler insurance can significantly boost your savings by preventing potential financial setbacks from accidents, theft, or damages. It’s a wise investment in both your safety and your wallet, ensuring you’re protected without unexpected expenses.
The act of renewing your insurance, whether it pertains to your two-wheeler, car, home, or health, can significantly enhance your savings and overall financial stability. It serves as a proactive measure that yields essential benefits.
* Standard T&C Apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.