What to Do If Your Two-Wheeler Insurance Policy Lapsed - Jinz Haiggh Blog

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What to Do If Your Two-Wheeler Insurance Policy Lapsed


We all are so much dependent on our vehicles to  go from  one place to another. Even though it is used daily, at times, we may forget about its insurance. It is legally mandatory for every two-wheeler owner to carry a valid offline or online bike insurance. But in addition to this, there are many reasons why we truly require it.

The high density of vehicles and poor road manners present a range of risks to the two-wheeler driver of today’s times. It is constantly recommended to have a valid two-wheeler insurance policy that creates a safety net when you really need it. Additionally, timely renewal of the insurance policy is crucial to protect you and our loved ones from financial hassles in case of an accident.


How to renew in case the insurance has lapsed?

Today, the online bike insurance renewal process is not as time consuming as it was earlier. With online bike insurance, you get to quickly renew the insurance coverage without any hassles at all. What's more, if remembering the policy renewal date seems a bit troubling then you can always go for the new long-term insurance policy renewal that protects your bike for 3 years.
There are two methods of renewing a lapsed policy, i.e. online and offline.

1- The online bike insurance renewal process is very simple if you have the required documents scanned on your mobile or desktop. All you need to do is upload the documents and pay using net banking or a credit/debit card. Documents you need at the time of buying a policy online are proof of identity, driver’s license, residence proof, previous policy, and vehicle registration documents.  An additional bonus of renewing the lapsed policy online is that many insurers  don’t come to inspect the vehicle, so your policy is renewed faster.

2 - The offline process is a little time-consuming. You have to visit the insurance office personally, submit the documents, and then wait until they send an agent to inspect the vehicle. Post inspection you get a cover note until the company processes the insurance.
The IRDAI has introduced a long-term insurance for a period of three years exclusively for two-wheelers. The benefit of this policy is that you avoid the annual price hike as you pay a constant premium for all the years.

Some insurers allow you to renew the policy after 90 days of the break-in period. The online method of policy renewal permits their customers to revive their two-wheeler insurance without prior inspection. It also needs lesser documentation. On the other hand, customers should be aware of the fact that the risk inception starts from third day from the date of purchase of the policy and  the insurer will not cover any damage to the vehicle during this period of 3 days.

To sign off
Opting for online bike insurance is much more convenient and time-saving. Renewing your two-wheeler insurance is compulsory because you are not only breaking the rules but also you are putting yourself at the risk of a big medical bill in case of accident. High Medical bills can clean out all your savings. So, save yourself from the hassle and renew your policy timely.
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