There are many bike lovers out there who would do anything to keep their vehicle protected from damages. On the other hand, some people purchase a two-wheeler only for the amount of convenience it provides. No matter why you have purchased the vehicle, it is true that there has been seen a rise of bikes on Indian roads, which has led to an increase in the number of accidents taking place. Therefore, securing your prized possession with a two-wheeler insurance policy is necessary. Also, you are legally required to buy one, or penalties will be charged.
At times, people don’t research enough and end up buying an expensive policy that provides them with little coverage. Or they go for a policy which later proves to be worthless. What must you do in a situation like this?
If you wish to change your two wheeler insurance online, there are various options available. You can make the switch for multiple reasons, such as:
- While the policy period is on
If you are not quite satisfied with your policy, while still in the policy period, and wish to switch to a new insurer, you can do so. When you buy a new insurance policy, know that you will have to go through a few steps to cancel your old policy. However, you must not have any open claims with your old insurance provider.
- Purchasing a new two-wheeler
In case you’ve bought a new two-wheeler, the insurance can be transferred to the new vehicle. The value of your new bike, however, will be verified by the insurer and the premium amount will be adjusted accordingly.
- Making changes during the renewal
During two wheeler insurance renewal if you feel that your existing plan isn’t sufficient, you can think of taking a better plan with your current insurance provider. If not that, you can also switch to a different insurer as per your choice. The process is hassle-free and all the insurance companies provide with an online process that can offer you the policy copy immediately for you to refer.
- Handing over your two-wheeler to someone else
If you want to sell or give away your bike to another person for use, the policy can be transferred from the old owner to the new one. Provide all the details of the new bike owner to your insurance provider and receive a new certificate.
Things to consider before making this change-
Don’t just suddenly switch policies without giving it a thought. Given below are a few things to keep in mind before you go ahead and make the decision:
- It is essential that you first know the reputation of a particular company in the market, before switching to a different insurance provider. Also, you must know the company’s claim settlement process as well as their history with previous customers. On the internet, you can get several reviews that you can go through. Read them and make a wise decision.
- Your reason for the change must also be valid. Don’t just make the switch because the premium will be lowered. It is foolish to save a little money and opt for a policy offering you with less coverage.
- You must receive a good two-wheeler insurance policy. Therefore, even after you are done with your research, you can talk to your friends as well as experts about the same, and see to it that you take an informed decision.
While you are switching your motor insurance policy, you can check for the premium amount, using the two wheeler insurance premium calculator, and get the best deals available.