How to Renew Lapsed Two-Wheeler Insurance Online | Bharti AXA

The minute you buy a two-wheeler, along with fulfilling your desire of owning your favourite bike, you also take on a bunch of responsibilities. And here we don’t just mean the responsibility of being a good and safe rider, although that is paramount. Along with abiding by traffic rules, as a bike owner you need to comply with certain legal obligations as well. You are responsible for ensuring that your bike is duly registered at the nearest RTO and that you do not ride without valid two-wheeler insurance.

Having two-wheeler insurance is compulsory by law in India as per the Motor Vehicles Act 1988. Buying bike insurance is in your own best interest. After all two-wheeler insurance is what will safeguard you from financial loss in the event of your bike meeting with an accident, getting damaged, stolen or causing loss or damage to a third party.

Now that we understand the importance of having bike insurance, let us also understand what needs to be done in case your two-wheeler insurance policy lapses.

What Is A Lapsed Two-Wheeler Insurance?

Basically if you ignore all those ‘renew your policy’ messages from your bike insurance provider and fail to pay the premium for the policy you hold before or on the date that it is due to expire, your two wheeler insurance will lapse. This means that your policy has expired and you are no longer covered by insurance.

What Happens If Your Two-Wheeler Insurance Policy Has Lapsed?

1. f you’ve maintained your bike in good condition, been a responsible rider and not made any claims then you would have accumulated No Claim Bonus (NCB) on your insurance policy. If your policy lapses for more than the grace period of 90 days (within which you can create a break-in policy to retain NCB benefit), you will lose the entire benefit of NCB earned over the years that could be as much as 50% discount.

2. if your policy has lapsed that means it is not valid and your two-wheeler is no longer insured. Since you are left without the safety net of an insurance cover you are exposed to financial losses if your two-wheeler gets damaged in a road accident or causes loss or damage to a third-party or their property. You will have to bear the cost of repairs and third-party liability, and that could be a heavy financial burden. So if your policy has lapsed, make sure to use the break-in period (when old policy has expired and the new one is not yet in effect) to buy a new policy.

Steps To Renew Your Lapsed Two-Wheeler Insurance Policy Online

- A lapsed policy cannot be renewed after 90 days and you will have to buy a new Policy renewal can be done online or offline

- For online renewal visit your insurer’s website and enter the required details

- Keep your vehicle related documents handy

Being a bike owner, to revv up your machine and zip through city traffic or ride out with friends on a biking trip can give you immense joy and the feeling of freedom. But it also comes with its fair share of risks. Ride safe and stay protected with two-wheeler insurance. And remember to renew your two-wheeler insurance online, on time, each time.