Renewing Lapsed Bike Insurance

We are all human
and we all make mistakes sometimes, such as forgetting to renew our two-wheeler insurance
policy. This can lead our policy to ‘lapse’,
i.e., a termination of the coverage and services provided under an insurance


If you have a lapsed
policy, here are
a few things which could happen :

  • You’re
    susceptible to a substantial fine if caught without an active insurance policy
  • In case of an
    accident, the cost of repair comes out of your pocket.
  • You’re liable for
    any damage caused to a third party involved in the accident.
  • No fair
    compensation in case your bike is stolen or damaged by natural or manmade
  • You lose your No
    Claim Bonus (NCB) attracting higher premium rates for the next time you buy a

Thus, having an
active insurance policy is a necessity at all times which saves you on the road
and saves your money in case of a mishap !

How To Renew a Lapsed Two-Wheeler Insurance Policy ?

You can renew
your lapsed two-wheeler
insurance in the following ways:

Online – This is a quick, safe and convenient way to
renew your lapsed policy as follows :

  • Keep your
    previous policy details, vehicle details (registration number, make &
    model, add-on details) and personal details (mobile number, bank details)
  •  Log on to the website of your insurance
    provider and enter your policy details.
  • Complete renewal
    process by making an online payment using options like NEFT, UPI or net-banking.
    The soft copy of your renewed policy will be sent to your email address.

It only takes
minutes to renew your policy online and you can avail great discounts and
services from companies like Bharti AXA which protect you in case of mishaps.

Offline : This is the traditional, longer way of renewing policy and is as
follows :

  • Locate the
    nearest branch of your insurance provider.
  • Submit policy
    details personally to start the renewal process.
  • In case of a lapsed
    policy, an insurance officer will come to inspect your vehicle.

The submission,
inspection and renewal process could take days, leaving you unprotected in the
interim period.  

There are certain
benefits of online insurance renewal such
as :

  • Most insurers
    waive the ‘mandatory inspection’ clause off in case of online renewal.
  • No convenience
    charge on renewal of policy.
  • Some insurance
    companies like Bharti AXA
    provide break-in insurance where if you renew a lapsed policy within 90 days of
    expiry, you can save your No Claim Bonus, and get a lower premium rate on
  • Compare multiple
    policy plans online and select the best cover at the best price.
  • Purchase a
    Multi-Year two-wheeler
    insurance policy which covers you for up to 3 years without an annual
    premium hike and get higher returns on your No Claim Bonus (NCB).

 So, correct your error and get online to renew
your lapsed policy and ensure you and your loved ones are always protected.