The Risks of Letting Your Two Wheeler 

Insurance Expire

Whether it is a small road in the countryside or a small metropolitan area, two-wheel drive is the easiest and most cost-effective way to get around. Thanks to this facility, the number of two-wheel-drive vehicles is increasing every year (1). According to the latest information available, FY21 has sold more than 1.5 million new two-wheel drive in India despite its closure. This figure was at an all-time high of 21 million units last year, reflecting the popularity of two-wheelers in the country (2).

However, on the other hand, two wheels are also at risk, largely due to the poor road conditions in the country. According to official statistics, one third of those killed in road accidents in 2019 were motorcycle riders (3). Therefore, it is important to buy the right road insurance policy for India, as it will not only protect the passenger and your two wheels from unexpected situations such as personal accident, third party debt or theft, but also from man-made disasters and natural disasters. However, what happens if your bike fails to renew after the insurance expires? Let's find out in this article.

Important of Two-wheeled Insurance in India: No matter what type of two-wheeler you have, having a valid insurance policy is urgently needed for some reason. It is important to make sure that you and your car stay safe from accidents and other accidents. Not to be outdone, cycling insurance policy gives you peace of mind in unexpected situations such as theft or third party debt.

In India, natural disasters such as floods and earthquakes wreak havoc on infrastructure and property, but you can always be sure that your precious car is protected with the help of complete bicycle insurance. In addition, it helps to keep you and your car safe in situations beyond your control due to theft, fire, explosion, violence, and terrorism or property damage.

Failure to renew your expired bicycle insurance - a major problem Sometimes, without repeated reminders from the insurer, two-wheeler owners may be dissatisfied or unaware of renewing their bicycle insurance. According to IRDAI data, about 60 percent of vehicles in our country cannot be guaranteed (4). Timely renewal of two-wheeled insurance is important in keeping your car and yourself safe and failure to do so can cause a lot of anxiety.

Control Issues - Under the Motor Vehicles Act, it is compulsory for every car owner to have at least a third-party bike insurance cover. If you are caught by the traffic police for driving without insurance, you could be fined up to Rs 2,000 or imprisoned for six months under the Traffic Act.
Rising Costs - Complete two-wheeled insurance serves as a protective helmet to protect you from many accidents and disasters. Failure to renew the policy will result in significant costs related to repairs, thereby damaging your financial situation. Now, what if the accident happened at the end of your policy period? In addition to the injuries of third parties, you will also have to bear all the damage to your vehicle.

The downside of the NCB-No-Claim Bonus (NCB) is the discount you get when you do not apply during your policy time. Ensuring that the insurance policy is renewed in a timely manner ensures that you will be able to obtain an NCB, up to 50 percent of the cost of insurance in accordance with the terms and conditions. However in the event of a breach of the policy, such accrued benefits may be forfeited and the owner may lose the opportunity to transfer those benefits to the newly purchased vehicle.

It Takes Time- It is always best to renew your two-wheeler insurance policy before the expiration date. Renewal of two-wheeler insurance is the same as buying a new policy and therefore a time-consuming process. You will need to test your bike and face the possibility of insurance being rejected. On the other hand, renewal during two-wheeler insurance is a breeze and you can do it online with a few clicks.
Choose a Trusted Insurance Provider- Considering the above, it is important that your bicycle insurance policy does not expire or go out of business for your legitimate insurance business. The smart thing to do is to set a reminder two weeks before the renewal deadline. This will give you enough time to evaluate your current policy, compare it with the new options available and renew the insurance once the information has been selected.

When renewing your policy, you should choose an insurance company that provides timely renewal reminders, as well as a good service to recover renewal benefits if those reminders are missed. You can choose a bike insurance cover provided by Bajaj Allianz General Insurance, which comes with small paperwork and an innocent customer service. The best part is that you can buy and renew your online bike insurance policy. Not only does it offer online shopping and renewals without the need for testing, but it also allows the bike owner to keep the unwanted bonus if the policy is renewed within 90 days. This policy also comes with 24 × 7 support.

Therefore, with Bajaj Allianz General Insurance Two Wheeler Insurance it is a good idea to protect yourself from unexpected road problems, which come with wide advertising covers, instant claim payments and free hassle-free upgrades. Provides clear plans. Insurance is a matter of claim. For more information on benefits, exemptions, restrictions, terms and conditions, please read the sales brochure / terms of sale carefully before completing the sale