The two wheeler insurance policy is made for only 1 year timeframe. Usually it should be done before the old insurance time period expires. If there is a lapse of even 1 day, the vehicle needs to be inspected, which complicates the whole process. So its strongly advised to pay premium on time, and do the insurance renewal before present policy expires. for e.g. if the old insurance is about to expire on 15th April, then the renewal should be done at least by 10th April.
It is sad to note that it India, especially for 2 wheelers, insurance is not taken seriously. One of the reasons is that people perceive that the cost of spare parts is low, hence instead of making insurance payments, it would be worth the risk to go without insurance, and pay to the local garage in case of an accident.
This is definitely not a wise decision. Renewal of an insurance is a very simple process, and keeping your vehicle insured is mandatory under the law, especially 3rd party insurance cover. Even for your own vehicle safety and long service, it is highly recommended to always keep it insured.
We hope that you are aware of the benefits of No claim bonus: If you haven’t made any claims to the insurance company over the past year, then you are eligible for a no claim bonus. It will reduce the cost of reinsurance by almost 20%.You can also use this no claim bonus to get a competing quote from another insurance provider.
Also note that membership of certain 2 wheeler clubs also makes you eligible for low insurance premiums.
If you need any assistance in your two wheeler insurance renewal please fill in the form above and get the best insurance quote.