It is essential to make sure that your two wheeler insurance renewal is up-to-date and done on time. Without a valid bike insurance policy, you are at risk of financial losses in case of an accident or other unforeseen events. By renewing your bike insurance timely, you will have financial protection and peace of mind. This article explains why delaying your bike insurance renewal should be avoided and why it’s best to do it online. Keep reading to know more about the magnitude of renewing your two wheeler insurance before it lapses.
A two wheeler insurance renewal should never be delayed because:
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1. Save on premiums by getting a No Claim Bonus (NCB)
NCB is a reward given to policyholders for not making any claims during the policy period. In other words, if you renew your bike insurance without any break-in or lapse in coverage, then you are definitely eligible for receiving a discount on your premium amount at renewal provided you have not made any claims in the expiring policy. This means you can enjoy cost savings when you timely renew your bike insurance policy and avail of the NCB benefit.
2. Avoid facing legal issues
If you delay your bike insurance renewal beyond the expiration date, it will be considered an offense with penalties under Section 142 of The Motor Vehicles Act 1988. With this in mind, renewing your policy before the due date is always best.
3. Save yourself from financial losses
If you experience any unfortunate event like an accident, theft, or vandalism while your bike insurance has expired, then any financial burden resulting from these incidents will be borne by you alone. To avoid such risks and ensure financial protection in case of any untoward events, you must renew your policy on time.
4. Enjoy hassle-free convenience:
With the onset of technology, it is now easier to quickly renew bike insurance online with just a few clicks at no extra cost! The renewal procedure is also very convenient; all you have to do is enter/put in your details like registration number & policy number, and voila! Your renewal is done in a matter of minutes.
5. Get access to quick customer service
If you have any queries regarding your bike policy or need help to make the renewal process easier, you can get round-the-clock assistance from the customer service team of the insurance company. This makes it even more convenient to renew your bike insurance on time and without any hassle.
Therefore, bike insurance renewal online should never be delayed to enjoy financial protection, cost savings, legal compliance, and hassle-free convenience. With Kotak General Insurance, you can easily and quickly renew your two wheeler insurance with just a few clicks at no extra cost.
From the discussion, it is clear that delaying your bike insurance renewal should be avoided at all costs. It is best to renew your two wheeler insurance online before the expiration date to make sure that you don’t miss out on any discounts or other benefits. Doing so will ensure financial protection and peace of mind while giving you access to a wide range of features and offers. So, go ahead and renew your bike insurance policy online today!