Many motorbike enthusiasts would go to great lengths to preserve their ride from damage. Some folks, on the other hand, buy a two-wheeler just for the convenience it affords. Whatever your reason for purchasing the vehicle, it is true that the number of bikes on Indian roads has increased, which has resulted in an increase in the number of accidents. As a result, protecting your valued item with a two-wheeler insurance policy is essential. Furthermore, you are legally compelled to purchase one or face penalties.
People sometimes don’t conduct enough research and wind up purchasing a pricey policy with little coverage. Or they opt for a policy that later turns out to be worthless. What should you do in this situation?
There are several solutions accessible if you want to update your insurance for a two-wheeler online. You can make the transfer for a variety of reasons, including:
- While the policy is in effect
If you are dissatisfied with your coverage and want to move to a new insurer while it is still active, you can do so. When you get new insurance for two wheeler policy, keep in mind that you will need to cancel your previous one. However, you must not have any outstanding claims with your previous insurance company. Make sure all claims are settled.
- Buying a new two-wheeler
If you purchase a new two-wheeler, the two-wheeler insurance coverage can be transferred to the new vehicle. The value of your new bike, on the other hand, will be validated by the insurance, and your rate will be modified appropriately.
- Making modifications during the renewal
If you feel that your current plan is insufficient, you might consider switching to a better plan with your current insurance provider during two wheeler insurance renewal. If that doesn’t work, you can always switch to a new insurance. The process is simple, and all insurance providers offer an online process that can supply you with a policy copy immediately for your reference. The policy, in this case, will take over once the old one expires.
- Giving your motorcycle to someone else
If you sell or lend your bike to someone else for usage, the insurance can be transferred from the previous owner to the new owner. Provide your insurance provider with all of the new bike owner’s information to acquire a new certificate. Ensure your policy covers the right terms for lending your motorbike or scooter to another person or entity.
Consider the following before making this change:
Don’t just swap policy without thinking about it. Here are a few things to consider before making your decision:
Before transferring to a different insurance provider, you must first learn about a company’s reputation in the industry. You should also be familiar with the company’s claim settlement process and previous client history. You can find various reviews on the internet that you can read. Read them carefully and make an informed decision. *
Your explanation for changing must be valid as well. Don’t just switch because your premium will be lower. It is stupid to save a few rupees by choosing a policy with less coverage. A premium calculator will help you get the best value policy. ##
A good two-wheeler insurance policy is required. As a result, even after you have completed your research, you can consult with friends and specialists to ensure that you make an informed conclusion. Ensure you check what add-ons are available and make the right decision for yourself.
While switching your motor insurance policy, you can use the two-wheeler insurance premium calculator to determine the premium amount and find the best rates available.
* Standard T&C Apply
## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.