Benefits of Renewing Bike Insurance Online

Bike insurance companies in India are actively striving to make insurance policies more accessible and easily affordable for customers, given the presence of numerous young riders and drivers on Indian roads.

During any mishaps, a bike insurance policy provides safeguard and monetary assistance, enabling you to have a peaceful recovery. You can purchase two-wheeler insurance online by visiting the site and providing some of the essential documents.

The two wheeler insurance market has been growing over the years due to the increase in road accidents and rising traffic density. You can visit the company’s website to purchase a bike insurance policy online and ensure that you have a complete documentation package for buying or renewing the bike insurance policy.

What factors need to be considered while renewing bike insurance?

Guaranteed Declared Worth

The insured declared value (IDV) directly influences the special value. In the event of a total loss or damage to the insured motorcycle, this amount is transferred to the insured individual. Make sure to choose an appropriate IDV amount. Opting for a lower Insured Declared Value may result in your vehicle being underinsured, while a higher Insured Declared Value might necessitate a higher premium payment.

Choose Before to Policy Expiry

The bike insurance policy renewal should occur at least 45 days before the expiration date of your current bicycle protection policy. Avoid waiting for your bike insurance policy to expire, as if the policy lapses, you could lose all your accumulated benefits.

Cashless Support

Some insurance agencies offer credit-only assistance, while others do not provide such services.

No Claim Bonus

Ensure that, when renewing your bike insurance policy, you can avail the No Claim Bonus (NCB) benefit only if you haven't raised any claims during the previous contract.

However, if you need to choose an online bike insurance renewal that offers such services, especially when considering premium bikes.

What are the benefits of renewing bike insurance online?

Here are some benefits of renewing bicycle insurance for a comprehensive contract:

Remaining Safeguarded

Failing to renew your bicycle insurance policy exposes you to financial hardships in the event of unfortunate incidents involving your bike. A Comprehensive Two-wheeler Insurance policy covers your bike in case of damage due to an accident or disaster, and it also protects against theft. Renewing your bicycle insurance will help you stay protected and continue to benefit from your bike’s insurance coverage.

Being a Decent Resident

Renew or buy a bike insurance online policy to demonstrate adherence to the law. Doing so will prevent you from being penalized for riding a bicycle without a valid bike insurance policy.

Note that your bike policy becomes inactive immediately upon termination. Therefore, timely renewal of bike insurance online after expiry becomes even more significant.

Keeping the NCB Dynamic

The insurance company introduces a continuous discount (for a certain period) known as a No Claim Bonus (NCB) while renewing the policy. It is a rebate offered for safe driving and refraining from raising a claim throughout the policy period. No Claim Bonus will cease to exist if you raise a claim or fail to renew your bike insurance online policy within 90 days of its last date. 90 days is a grace period provided to keep your NCB active.

No Break-in Arrangement Burden

As mentioned earlier, you must renew your insurance policy before its expiry. If you renew it after a significant period (which varies from one insurer to another) following the expiration date, your bike insurance policy will be considered a lapsed policy. The insurance company should inspect your bike in such cases. This could prolong the process of your bike’s insurance coverage.

You get a rebate on Bicycle Insurance Installment

When you renew the bike insurance policy on time, your insurer can offer you a specific discount on the policy cost. If you hadn't raised a claim in the previous policy period, you will be eligible for a No Claim Bonus. This is considered the best possible discount as it can be increased by a percentage of the policy premium. NCB is restrictive, so you need to meet specific requirements to be able to benefit from the discount.

Ideal Opportunity to Survey

Typically, a month before your policy's expiration period is an excellent time to review your Comprehensive Two-wheeler Insurance policy. It addresses your various needs. Adding extras will slightly increase the insurance payment but will enhance the security cover by expanding its coverage.

However, you can also switch your insurance provider while renewing your policy. Digitization has transformed the insurance industry, leading to the emergence of new underwriters.

No Fines or Punishments

According to the law in India, purchasing an insurance policy for vehicles is compulsory. Therefore, if you fail to renew bike protection before its expiry, you will face fines and damages. The fine for not obtaining bicycle protection is 2,000 rupees or potential imprisonment.

Therefore, aside from not having a monetary cover against liabilities connected with your bicycle, you may have to pay a fine or, worse, face repercussions.

Choice to Analyze

Renewing insurance presents an excellent opportunity to compare various plans, features, and prices. You can use the online platform to make a decision. Therefore, you can switch to another insurance provider, or you can switch from a Third-party Bike Insurance policy to a Comprehensive Bike Insurance policy for broader coverage. Only with Comprehensive Insurance can you choose to include add-on covers to enhance the base coverage. Make sure to compare different bike insurance plans before renewing the current policy to ensure the right coverage for your vehicle.

Save time

Renewing bike insurance online is no longer a cumbersome task. Online bike insurance renewal is a hassle-free way to renew the policy without relying on agents or visits to the office. You can review various plans and choose the right insurance coverage for your bike.

Inclusion Stays in a Piece

When you fail to renew your bike insurance, you expose yourself to various financial risks associated with damage to your bike and other entities. Renewing bike insurance online ensures that you are covered against the following conditions if you have a comprehensive bike insurance policy.

  • Fire: The procedure also covers damages caused to your bike due to a misfortune associated with fire.
  • Outsider Liabilities: Bicycle insurance provides financial safeguard against liabilities such as injuries, property damage, and legal liabilities. You don’t have to worry about compensating others for their losses. Ensuring not to harm others should always be fundamental. However, in the event of an accident, you will be financially covered.
  • Individual Accident Cover: After another option, the death benefit offered on bike insurance depends on 15 lakh rupees. Therefore, in the event of death or disability, expenses will be covered by the bike insurance company with the assistance of personal accident cover bike insurance.
  • Own Damage: Just as stranger bike insurance liabilities are covered under a broad policy, own damage, i.e., damage to the insured bike, is also covered. Your contingency plan will offer financial assistance in case your bike gets hurt. If you take your damaged bike to a network garage, you can benefit from credit-only repairs.
  • Robbery: Your underwriter will reimburse you with the current market value of your bike if it gets stolen and the police can't find it, ensuring peace of mind against theft.
  • Disaster: Your bike insurance contract will provide financial coverage against damages caused by both natural and man-made disasters, resulting in disturbances in and out of town. Common disasters include earthquakes, floods, avalanches, etc., while man-made disasters include riots, vandalism, etc.
  • Remember to complete the renewal process through the bike insurance online platform with MyPolicyExpress before the expiry date to avail of the aforementioned inclusions.


    As you can see, renewing bike insurance online is convenient and offers several rewarding benefits. Therefore, missing the renewal dates only causes inconvenience and losses. With an affordable premium, bike insurance provides financial protection against various risks that you may encounter on the road.