What are the reasons for buying a two-wheeler over a four-wheeler?

Considering the increasing congestion each passing day, maneuverability, inexpensive to maintain, and fun to ride are some of the important factors.

Motorbike enthusiasts often are extremely precautious of their bikes. It can be getting them serviced timely or even ensuring they remain clean of any muck or dust. While some others have a practical take at owning a bike, ensuring they operate without any hiccups. But a common factor in both the cases is having a 2 wheeler insurance.

Whether you plan to venture on a road trip or use your bike for commuting to work, you need insurance. Its mandatory nature makes it difficult to ignore as one of the essential documents to ride a motorbike in India legally.

But there are occasions where you might be dissatisfied with your policy coverage. It can be either better facilities available at the same price from competitors or higher coverage from different insurers. Whatever is your reason, you are free to switch your insurer.

Let’s look under which scenarios you can change your 2 wheeler insurance policy.

At renewal.

The most convenient time to change your insurance policy is during renewal. Your motor insurance policy is a contract that provides financial cover for a specified duration. On the expiry of this tenure, you are free to either continue and renew the same or opt for an insurance cover from a different insurer.

This process is akin to buying a fresh insurance cover. You need not worry about your previous policy benefits. All such benefits are transferred to the new insurer. Any No Claim Bonus (NCB) accrued in previous policy tenure shall be carried over to the new insurer.

During policy tenure.

Financial advisors do not recommend changing your insurer in between your policy tenure. But in certain scenarios where it is imperative for you to change, you can contact the insurance company and adhere to the process as described.

However, don’t forget to cancel your existing policy before buying a new insurance cover. It is a hassle-free experience to buy insurance these days with online facilities. Be it a comprehensive cover or third party insurance for bike, a few clicks and you’re good to go.

At the time of new purchase or change in vehicle.

Insurance policies are linked to each vehicle. Thus at the time of transfer of the ownership of your vehicle, make sure you get the insurance policy transferred along with its other registration documents.

When you change your vehicle, you need not rely on the insurance policy offered by your bike dealer. You can opt for an insurance policy of your choice. Evaluating your needs and then selecting the policy offers a comprehensive cover when required.

Lapse of your two-wheeler insurance policy.

It is not the best situation to be in. Riding your bike without a valid insurance cover is a legal offence and shall attract heavy penalties and even your bike being impounded. Moreover, any gap in policy tenure will require a vehicle inspection at renewal. You must note that a gap of more than 30 days will, in turn, cause your accumulated policy benefits like the NCB to become void.

To conclude, you can change your insurance policy at different times but don’t miss out on comparing before zeroing down. When you compare, don’t forget to compare two wheeler insurance before finalizing your purchase. Stay insured and stay protected.