Where To Renew Two-Wheeler Insurance?

If you have a scooter or a geared bike, then you know that you need Bike Insurance. Holding the insurance is necessary as it is mandatory in India. You not only need to buy Bike Insurance online, but you must ensure that it is always valid. Driving without one, even for a single day, is a punishable offence in India. For always keeping the insurance active, insurance providers enable you to renew the policy in different ways:

Insurance office

Two Wheeler Insurance renewal is possible by visiting the nearest insurance branch. Your insurer’s address is available on the policy document and the renewal reminder letter sent by the insurer. The letter also includes details of the premium amount payable along with the renewal date. Carry this letter, along with two passport size photos, your chequebook, photocopy of your bike’s RC book, driving license, and visit the insurance insurer’s office and renew the plan.

Online renewal

If you cannot visit the insurance offline, there are provisions for renewing the policy online. For this, visit the insurance website and enter your policy number. Once you add the details, the system populates your personal information that is, your name, address, contact details, vehicle details, and renewal date) and your current policy information along with the premium amount to pay.

Also, the online renewal facility enables you to review your policy, add or remove additional riders, and so on. You can pay the premium through different online mediums like Internet Banking Account, Debit Card, Credit Card, or Digital Wallets.

Insurance agents 

These are individuals who represent a specific insurance company. They might only sell insurance policies of the company they represent. Agents hold expertise about different insurance plans offered by the company they represent and help you and the company in buying and Two-Wheeler Insurance renewal. Communicate your needs to the agent and renew your policy.

Note, insurance agents charge a commission for the services rendered, and precisely why your premium pay-out increases.

Insurance brokers

Unlike agents, brokers are those who represent many insurance companies. These need not sell policies of a specific company and helps you choose a policy based on your needs from the different insurers. Brokers assist in buying Bike Insurance online and even renew it, like agents. Also, brokers work on a commission, which means you pay them a fee for the services they offer you. Approach an insurance broker only if you wish to change your insurer.

Of the mentioned methods, online renewals are the best. The other ways are best for policyholders who are not tech-savvy. Moreover, you must pay commission to agents and brokers. Under the online method, you become eligible for discounts on premiums as well.

Comments are closed