India has observed a good growth in its auto sale numbers. This rise in number of vehicles on road along with lack of regulation has increased the chances of accidents in India. Most of the individuals have health insurance to cover themselves towards accidental injuries, but when it is about meeting the finances of the accidental damage to the vehicle or towards third party one has to bear the cost from his/her pocket. Such expenses incurred towards your two wheeler, due to accidents or other unforeseen events, are well covered by
2 wheeler insurance policy.
A good 2 wheeler insurance policy in India can give financial assistance for repairing of your two wheeler or motorcycle. In addition, it also provides risk coverage towards loss/damage caused to third party during an accident.
2 wheeler insurance is an agreement between the motor insurance company and the insured (or policy holder), wherein the company agrees to bear a pre-decided cost of expenses incurred towards loss/damage of vehicle due to an unforeseen event. The company agrees to bear the decided sum after the policy holder pays a fixed cost called premium.
The risk coverage offered under a 2 wheeler insurance or a motorcycle insurance policy is applicable for a period of one year only. By end of the one year tenure, the policy holder would have to renew his/her 2 wheeler insurance or motorcycle insurance by paying a onetime fixed amount to the company i.e. premium.
A two wheeler insurance renewal is done in two ways. Either he/she can directly contact the insurer and get the policy renewed or can choose to do an online payment of 2 wheeler insurance premium on the company’s website and renew the motorcycle insurance policy. The second option of renewing a 2 wheeler insurance policy is considered as the best way of insurance renewal.
Online motorcycle insurance renewal is very beneficial. Renewing your motorcycle insurance or 2 wheeler insurance through offline mode would consume a lot of time, effort and money, unlike online 2 wheeler insurance renewals. By renewing your 2 wheeler insurance online, you can avail the benefits of automatic renewal reminders for premium payments, which in turn helps you in making timely premium payments and thus would keep you and your vehicle covered and secured always.
The process of renewing 2 wheeler insurance policy online would vary from company to company. However, the requirement to fulfill the process would be more or less same. Therefore, ensure to check with your motorcycle insurance company about the exact process of making an online payment for 2 wheeler insurance renewal
It is always advisable to renew your 2 wheeler insurance at least two months in before its expiry. This way you can avoid discontinuation of insurance benefits.
The common practice followed by most of the companies for 2 wheeler insurance’s online renewal is as follows:
1. Logon to company’s website
2. Fill in few details in the renewal online form
3. Get an online premium quote and make the payment
You can renew your
motorcycle insurance online in matter of couple of minutes by sitting at the comfort of your home.
For a deeper understanding, read more articles on two wheeler insurance