- About Coverfox
Renew Your Active/Expired Insurance Policy Instantly
As you enter your two wheeler details, quotes from different insurers will be displayed. Before renewal, ensure you compare Insure Declared Value (IDV) offered by various insurer.
Select add-ons that are best suited to your needs and include them in your comprehensive two wheeler insurance policy. They might be an added expense, but they enhance the policy benefits!
During a policy renewal, you can get previous mistakes rectified by providing the right information – remember, proper policy details are vital for speedier claims!
Forgetting renewal date is just human! Having so many things on mind, it’s easy to slip the renewal due date. Do not worry. Or fret. Because, Coverfox has hot your back. We help you to renew the expired two wheeler insurance policy without any hassle and documentations.
Renew expired two wheeler insurance policy with Coverfox:
No Inspection: Without inspection and documentation, Coverfox helps you to renew your two wheeler expired policy.
No Extra or Hidden Cost: No extra or hidden charges if renewed within the grace period. It will come at the same price as it cost to renew an active two wheeler policy.
Instant Policy: You will receive the policy within minutes. Instantly in your inbox.
Best Part: As said, no documentation, you don’t have to provide previous policy details even if the policy has expired for more than the 90 days.
Can I renew my bike insurance policy online?
Yes, you can – with a debit/credit card or even through net banking. Although, for expired policies you will have to contact us for an offline renewal process.
How to renew two wheeler insurance?
Possessing a valid two wheeler insurance policy is compulsory by law. With the drastic improvement in technology, renewing a two wheeler insurance has become very simple and convenient. More and more people are opting for online renewal of policy over offline mode. The reason being is online insurance process costs less and is quicker as it does not involve any paper work. It also does not require any two wheeler inspection.
Online renewal process
Offline renewal process
If you choose to do it offline then you would need to take your vehicle to the insurer's office. There you will need to do the paper work and submit copy of RTC and old policy document. The insurance company representative might do the inspection of your two wheeler before quoting you the insurance amount. After paying the amount you will get your two wheeler insurance policy.
How to renew expired bike insurance?
Renewal of your bike insurance online is simple and instant.
If you just want to renew third party bike insurance plan, you can directly buy online from any insurance company’s website or from a web aggregator.
And if you are planning to renew comprehensive bike insurance policy after expiry, do not worry. It is also, quick and easy.
Since, most of the insurance companies renew bike insurance policy without any specific inspection, it is completely hassle-free to renew.
All you have to follow the following steps:
Note: Few insurance companies may ask for an inspection before approving to provide coverage.
In that case, you may use Coverfox’s bike insurance comparison tool. No inspection. No documents required. Receive bike policy instantly.
You can easily renew your expired two-wheeler insurance policy with Coverfox:
Benefits of renewing bike insurance on time?
Your responsibility towards the Indian law doesn’t end by only buying a bike insurance policy. You need to ensure that you renew your bike insurance policy on time.
Riding a bike minus a valid insurance policy is a serious offence by law. It is imperative to renew your lapsed policy mainly because accidents are inevitable and can occur anytime and anywhere. This can put you in a serious financial crunch. Besides, you can’t afford to play with some one’s life.
Thus, getting the bike insurance renewed on time is as important as buying a new policy.
Mentioned below are the benefits of renewing your bike insurance policy on time:
Every year when you do not make a claim in your two-wheeler insurance policy, you earn a discount in the next year’s premium. This is called the No Claim Bonus (NCB) and it is cumulative in nature, i.e. the rate of discount increases for every claim-free year. If you fail to renew your bike insurance on time, you lose out the accumulated NCB. Here is the table showing the cumulative NCB for each claim-free year:
|After 1 claim-free year||NCB = 20%|
|After 2 subsequent claim-free years||NCB = 25%|
|After 3 subsequent claim-free years||NCB = 35%|
|After 4 subsequent claim-free years||NCB = 45%|
|After 5 subsequent claim-free years and more||NCB = 50%|
In case of an expired bike insurance policy, you would have to face the financial implications of any damages your bike causes or faces. In short, you would have to shell out the bucks for any damages or repairs for your bike. The insurance company won’t be liable to pay for these expenses simply because you missed to renew your insurance policy on time!
Renewing bike insurance on time will not only take care of all the expenses you incur but will also offer relief during distress. By making the renewal of bike insurance compulsory, the government is just ensuring that any damage to property, vehicle or person can be compensated.