Avoiding Common Mistakes When Renewing Two-Wheeler Insurance Online

The procedure of renewing two-wheeler insurance online is simple. All you have to do is supply information about your two-wheeler and your existing insurance coverage.

However, if you don't understand the basics of a bike insurance coverage, you could make some typical blunders while renewing it online.

When it comes to renewing a two-wheeler insurance coverage online, there are a few frequent blunders to avoid.

Not Taking Advantage of Your NCB Discount : NCB, or No Claim Bonus, is a discount offered  during the renewal process if you have not made any claims during the previous policy term. You may get the NCB discount if you renew your insurance within 90 days of it expiring. However, one of the most typical errors is to renew the insurance after it has expired for a lengthy period of time. You will forfeit the NCB discount accrued over the years if your coverage expires within 90 days. To take advantage of the NCB discount and assure continuous coverage for your two-wheeler, it is best to renew your two-wheeler insurance plan before it expires.

Not Choosing a Multi-Year Plan : Not choosing a multi-year insurance policy is one of the most typical blunders made while renewing a bike insurance coverage. Y ou may save money by purchasing these plans. Whether you're renewing a third-party bike insurance policy or a comprehensive coverage, multi-year plans are advantageous since you save money and don't have to worry about the policy's annual renewal.

Not Choosing the Maximum IDV : Customize the bike's IDV (Insured Declared Value) according to your requirements. The estimated market value of the vehicle is known as the IDV. The price may go up if you choose a higher IDV, but it's worth it since it gives the most coverage.

Not determining your add-on needs : A Comprehensive Policy includes a number of add-ons that supplement the policy's advantages. However, when it comes to renewing the insurance, you often overlook them, claiming that add-ons would raise the cost. However, add-ons may be beneficial and save you money in the long run. The Engine Protect add-on, for example, will cover the loss if your bike's engine is destroyed. So, before you renew your coverage, consider your needs.

Failure to purchase Personal Accident (PA) Cover : In India, it is mandatory to have a Personal Accident (PA) Cover in order to comply with the laws and regulations. So, when it comes to renewing your bike insurance coverage, don't forget about PA Cover. If you own numerous cars, you just need one Personal Accident Coverage policy.

Filling Out Erroneous Information : Filling out incorrect information during the renewal process is one of the most frequent blunders you may easily prevent. When supplying information such as the vehicle registration number, prior insurance data, and the year of purchase, you must be cautious. The policy may be invalid if these information are determined to be wrong. As a result, make sure you offer accurate information when renewing your two-wheeler insurance policy.

Failure to renew your bike insurance policy before it expires : If you do not renew your bike insurance policy before it expires, you will be without coverage for your two-wheeler. A mistake within that time period would result in a large financial loss. You may also lose your NCB benefits if you do not renew your insurance within 90 days of its expiration date. As a result, make sure you renew your coverage before it expires.