How to Change Two Wheeler Insurance Policy?
There can be multiple reasons for you to change your bike insurance policy. Maybe you want to switch to a comprehensive policy from a third-party plan. Or, maybe you are getting a better deal from another insurance company. You might simply want to add new riders to the policy. Regardless of the reason, here are the details of how you can change your two-wheeler policy.
During bike insurance renewal
The best time to make any change to your two-wheeler insurance is when you are renewing the policy. Bike insurance renewal is almost like getting a completely new policy. You can choose different terms of policy, different riders, and even a different insurance company. If you have a no-claim bonus, then it will be transferred to your new insurance policy under the new insurer. You will not have to worry about losing the bonus because of any changes you make to the policy.
During the active policy period
You are allowed to change the insurance company even during the policy period, though there are a few things to remember in this matter. Firstly, you will have to talk to your current insurance company and know about their process of policy cancellation. You should compare bike insurance policies beforehand because your new policy under the new insurer must be activated as soon as the old one is cancelled. You cannot ride your bike before the policy is activated.
When you get a new bike
When you buy a new bike, it’s necessary for you to get a bike insurance policy for it. While the bike dealer can help you get insurance, you can also buy bike insurance online. However, purchasing a policy without researching can cause trouble in the future. Thus, it’s recommended to compare policies and check their benefits before choosing one.
When the vehicle changes ownership
The insurance policy is attached to the bike. So, when you sell your bike to someone, you also need to transfer your insurance policy to that person. Now, the insurance policy will be in the name of the new owner. If the new owner is aware of how to change two wheeler insurance policy, then they can get the policy changed as they want.
When the bike insurance policy lapses
If your two wheeler insurance online third party has lapsed and you are trying to renew it after that, then you can make any changes during renewal. You can add new riders or even get the policy from another insurance company. However, it is better not to let the policy lapse because driving without insurance is illegal in the country.
Buy or Renew a Policy After Comparing Different Plans
Whether you’re buying a new policy or renewing an old one, it’s recommended to compare multiple insurance plans before making a decision. This will help you select a policy that offers the most benefits and fits your budget.
You can also get in touch with your insurance company and inform them about the changes that you want. They will help you to make the process easy and swift.
