Bike insurance or two-wheeler insurance has become increasingly important in today’s time. It would be best if you had this insurance to get coverage for your damages and repairments without emptying your savings. Not only do you need to take care of getting yourself a policy, but you also need to ensure that you keep renewing your policy before the due date. In this article, we talk about the steps you need to take for bike insurance to renew correctly. HDFC provides you with an option of beneficial bike insurance.
The demand for two-wheeler in India has grown exponentially over the years. As automobile purchasing grows, so do the accidents on the road. People drive rashly and thus increase their chances of meeting with an accident. To help themselves and their family with accidental injuries, people have sought out the help of health insurance. But when dealing with vehicle damage expenses, they have to empty their wallets, which flips their entire budget. These expenses are unpredictable, so it is wise to buy two-wheeler insurance and keep that bike insurance renewed.
The two-wheeler insurance helps you out when you have to send your bikes to garages and repair shops to fix the damage. Additionally, it also gives coverage if there is any loss or damage to the third party during accidents.
What is two-wheeler insurance?
Two-wheeler insurance is a legal contract between the automobile owner and the insurer that says that the insurance company has agreed to bear a fixed amount towards damage or loss of two-wheelers because of unforeseen circumstances. The insurance company will bear this amount only when the two-wheeler owner has paid a decided amount known as a premium.
This risk coverage for two-wheeler insurance is only valid for a period of one year. When one year is up, the automobile owner has to renew their policy by paying the fixed price or the premium to the insurance company.
Bike Insurance Renew: how to do.
There are basically two methods for your bike insurance renewal. They are:
1. Directly contact the Insurance Company.
If you choose to go for this method, you have to visit the insurance company in person and pay your fixed amount or premium. You will get a receipt in print of your payment and a printout of your renewed policy.
2. Bike insurance renewal by paying online.
If you opt for this method and pay your premium online, you can do it from the comfort of your own home. To easily pay your amount, this method is just a click away. Save time in travelling and waiting. For this, you need to visit the official website of your insurance company and renew your policy. It has become the most used and preferred method of paying your dues.
You can pay your bike insurance renewal amount via:
- Debit card
- Credit card
Steps to follow if you want to pay your policy online.
Follow these steps to renew your bike insurance policy and pay your premium.
- Visit the official website of the insurance company.
- Select Renew the policy option.
- Enter all your required details.
- Whatever add-ons you will like to add, include those.
- The process will be completed as soon as you pay your premium online.
- The confirmation of your renewed policy will be sent to your registered email address.
The two-wheeler insurance policy can also be sent to your WhatsApp.
What are the perks of paying your premium online?
Paying your premium online has several advantages-
- You will get notifications on time regarding your premium’s due date, which is a saviour if you want to keep your insurance running smoothly.
- It saves you from any delay in your regular payments, which ensures the safety of your vehicle.
- If you are paying your premium online, you are saving yourself from the offline method, which is tiring, hectic, time-consuming, and requires a great deal of patience.
What to keep in mind when you are opting for the online method of paying?
The appropriate rules for bike insurance renewal and making regular premium payments may differ from company to company. The demand to finish the process, nevertheless, still remains the same. It is, however, always wise to double-check the proper method and process of making a secure online payment for the renewal of your bank insurance.
It is also strongly advised that you renew your two-wheeler insurance before its due date. The best time to update your policy is two months before the due date. It will help you enjoy the long-term benefits of your insurance policy.
What is a Bike Insurance calculator?
The bike insurance calculator is a calculator provided online that allows a policyholder to calculate their two-wheeler insurance premium by adding a few details of their bike, such as make, model, registration number of their bike, RTO location, and your vehicle’s year of purchase.
If you calculate your premium using a bike insurance calculator before purchasing an insurance policy, it will give your a clear idea of different quotes from different insurers, which will come in handy when choosing your insurance company.
Why choose HDFC ERGO Comprehensive Two-Wheeler Insurance?
This insurance policy includes coverage against harm to your bike or a third person’s vehicle. It includes all the damage from accidents, natural disasters, theft, and burglary.
Benefits of this policy include:
- HDFC has access to over 2000 cashless garages.
- All day, everyday roadside assistance.
- Two-wheeler repairs at your doorstep.
- Fast theft claim settlement.
- Claim your insurance without papers.
- You get zero depreciation claims.
Bike insurances are important and a life-saver in terms of money and saving. It could save you a lot of money in case of unforeseen events. But to continue enjoying its benefits, its renewal is even more important. Calculating the price for your renewal is easy and we hope that this article helped solve your queries and confusion.
DISCLAIMER: THE ABOVE INFORMATION IS FOR ILLUSTRATIVE PURPOSES ONLY. FOR MORE DETAILS, PLEASE REFER TO THE POLICY WORDINGS AND PROSPECTUS BEFORE CONCLUDING THE SALES.