However, with a little planning, you can navigate through this break-in period smoothly. 

In this blog, we’ll delve into the essential details you need to know about the break-in period in bike insurance renewal, and how to effectively manage it.

Understanding the Break-In Period in Two-Wheeler Insurance

When your two-wheeler insurance policy expires, a break-in period ensues until you renew it. 

For example, your bike insurance policy expires on 5th December, and you manage to renew it on 25th December. 

In the 20-day interim between expiry and renewal, your insurance policy remains inactive, constituting the break-in period.

The Legal and Financial Implications

The break-in period can have significant consequences from both a legal and financial perspective. Let’s explore these implications in detail:

1. Legal Effect

According to the Motor Vehicles Act of 1988, it is mandatory for all vehicle owners in India to possess at least Third-party Liability insurance before driving their cars or riding their bikes on Indian roads. This means that riding your two-wheeler during the break-in period is illegal.

Engaging in such an act can result in monetary penalties, legal hassles, and even imprisonment. Especially if the two-wheeler is involved in an accident causing injury to a third party. 

It is crucial to respect the law and avoid riding your bike during the break-in period to ensure compliance and maintain your safety.

2. Financial Security Effect

Insurance serves as a safeguard against unforeseen financial losses. However, during the break-in period, your bike is essentially uninsured. 

If an accident occurs or your bike gets stolen during this time, you will be solely responsible for the resulting financial losses.

It’s important to recognize that the break-in period leaves you vulnerable, as it’s equivalent to having no insurance coverage. 

To protect your financial security, make sure to renew your policy on time. And, if you fail to do so, refrain from riding your bike until the renewal is completed.

3. Preserving Your No Claim Bonus (NCB)

Nowadays, most insurers provide NCB to policyholders. Particularly, those who cannot make any claims during the policy period of Two-wheeler insurance.

Even if you manage to renew your two-wheeler insurance policy during the break-in period, you’ve got a cool 90-day buffer to keep your No Claim Bonus (NCB) intact. 

So, no worries if you renew within 90 days from the expiry date – you can still enjoy those awesome NCB benefits.

The NCB percentage is determined based on the number of consecutive claim-free years. 

Missing the renewal deadline can cause you to miss out on these valuable discounts. And, it can be as high as 50% for five consecutive claim-free years. 

Hence, renewing your two-wheeler insurance on time is not only crucial for coverage but also for preserving your NCB.

Renewing Your Two-Wheeler Insurance

Now that we’ve established the significance of timely renewal, let’s explore how you can renew your two-wheeler insurance effortlessly.

1. Two Wheeler Insurance Renewal Online

If you miss the deadline for bike policy renewal, don’t worry. You can easily renew your two-wheeler insurance online with just a few clicks, and the policy documents will be delivered to your inbox. 

Embracing digital convenience ensures a seamless renewal process and eliminates the need for paperwork and physical visits.

2. Break-In Policy and Vehicle Inspection

When there’s a break between two insurance policies, the renewed policy is termed a break-in policy. Different insurers have varying approaches to vehicle inspection during this period. Some may require an inspection before insuring your vehicle, while others may not. The insurer’s process typically depends on the time elapsed after the policy’s expiry date.

Proactive Approach: Renew and Stay Insured

To ensure you never miss the renewal deadline, adopt a proactive approach:

1. Set Reminders

Insurers often send messages and emails as your Bike Insurance Renewal policy approaches its expiry date. However, setting your own reminders is an additional safeguard. Utilize planners or mobile apps to include renewing your two-wheeler insurance in your to-do list well in advance.

2. Gather the Required Documents

When renewing your bike insurance policy during the break-in period, prepare the following documents:

– Take a copy of your previous bike insurance policy

– RC (registration certificate) book

– Your driving license

After your vehicle undergoes inspection, and you make the necessary payment, the insurance company will issue a new cover note. Keep in mind that the break-in period typically lasts for 90 days, after which you will no longer be eligible for No Claim Bonus benefits without a fresh policy.

Read More- 6 Essential Things To Know About Your Comprehensive Car Insurance Plan

The post <strong>A Comprehensive Guide to Break-In Period of Bike Insurance Renewal</strong> appeared first on Blogs - Policyplayer.

Furthermore, it provides financial protection against incidents such as thefts, natural disasters, vandalism, etc. Read on to know more about how to renew two wheeler insurance at low prices online in India.

Why Do You Need A Two-Wheeler Insurance Policy?

Mandatory as per law

In India, it is illegal to ride a two-wheeler without valid two-wheeler insurance. If you do so, you may be penalized or even imprisoned. 

According to the Motor Vehicles Act, every motor vehicle owner must have at least third-party bike insurance. This policy covers only third-party liability, not damages/losses to your two-wheeler.

Provides financial coverage

Today, it is common to see chaotic roads with vehicles moving in all directions. So, there is a high risk of accidents resulting in vehicle damage and deaths.

You may suffer financial losses as a result of such incidents. If you have purchased two-wheeler insurance, then the insurance company will take care of the majority of repairs (if you have purchased the PA coverage) and also provide medical treatment.

Third-party liability cover

Third-party liability coverage protects you from financial and legal liabilities associated with accidents involving third parties, their vehicles/property, injuries, or deaths. 

Protection against natural disasters

There are some things that we can control easily, like how we drive our vehicles on the road, but natural disasters are beyond our control. So, there is a possibility that they will cause significant damage to your two-wheeler. 

For instance, flooding can cause irreparable damage to your bike’s components. In such situations, a Comprehensive Bike Insurance Plan covers damage to the vehicle.

Theft (or) loss coverage

Two-wheeler theft is one of the worst nightmares for you, right? In such situations, you are unsure whether you can track the missing vehicle or not. 

If the authorities are not able to find your vehicle, you are at risk of significant financial loss. 

When you purchase insurance for bikes/scooters (Comprehensive Two-Wheeler Insurance Policy), even if your stolen bike/scooter is not found, you will be compensated. 

Personal Accident Cover

The chances of being injured in an accident are very high, so only having insurance coverage for your two-wheeler is not sufficient. This is the reason why the PA cover is mandatory in India. 

This policy covers you against permanent disability or death caused while riding a motorcycle or scooter. 

However, it should be noted that this PA cover is not included in the motorcycle policy. You will have to buy it separately while purchasing bike insurance.

Factors to buy/renew two wheeler insurance at low prices online in India

When it comes to buying two wheeler insurance, it is important to do thorough research. 

Also, it is crucial to evaluate your requirements and compare several two-wheeler insurance plans online to find the most suitable two-wheeler insurance policy. 

Listed below are some tips that will help you choose the right two-wheeler insurance policy for your needs and budget:

Understand Your Coverage Requirements

First, identify your needs and budget so that you can choose the best insurance policy. For that, a variety of factors must be taken into account when assessing your requirements, such as how you use your two-wheeler, how much you spend, and how much liability you have.

Select Add-on Wisely

The addition of an add-on to your two-wheeler insurance policy enhances its coverage. However, adding an add-on cover to your insurance policy will cost you an additional premium. 

The most common add-ons in two-wheeler insurance are zero depreciation cover, personal accident cover for pillion riders, and towing coverage.

Select a Reliable Insurance Provider

When choosing an online two-wheeler insurance company, it is crucial to check the claim settlement ratio. This makes the claim settlement process hassle-free.

Compare two-wheeler Insurance Plans Online

To make the best decision, it is important to compare different two-wheeler insurance policies online. There are many ways to compare different plans, including exclusions, inclusions, premiums, and more.

Read Online Reviews

Online reviews from verified customers who have bought two-wheeler insurance policies can help you choose the best insurance policy for you. 

However, read both positive and negative comments online to make the right decision.

Benefits of buy/renew two wheeler insurance at a low price online in India

Compare and buy

Comparison is one of the most significant advantages of shopping for two-wheeler insurance online. 

When comparing bike insurance policies, you can make an informed decision based on each policy’s merits and demerits. And, the process of buying two-wheeler insurance includes researching, comparing, evaluating, and buying.

Pay less, get more

Online purchase of a two-wheeler policy eliminates the middleman. Besides, a low operational cost also reduces the price of bike insurance. That’s why the digital-first insurer can offer low-cost two-wheeler insurance.

No paperwork

You don’t have to deal with tedious paperwork when you purchase bike insurance online. 

You can easily purchase two-wheeler insurance by entering a few details about the vehicle and previous policy, selecting a plan, paying the premium online, and receiving the policy instantly.

Saves time

When you purchase two-wheeler insurance online, you will save time and money. 

It is simple and convenient to purchase insurance for bikes/scooters online without traveling to the insurer’s office. 

Also, you can access insurance-related information, get assistance, and buy two wheeler insurance at your convenience with just a few clicks.

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