How to easily renew lapsed two wheeler insurance policy online?

bike insurance renewal

Two-wheeler insurance policies are mandated by the Government of India to ply your two-wheeler on the Indian roads. Although only Third-Party Insurance Plans are mandatory, it is better to opt for a comprehensive plan which covers the damages of your own bike as well.


However, many individuals forget renewing their two-wheeler insurance policies within time and as a result the policy lapses. So, if your customers’ two-wheeler insurance plans have also lapsed, don’t worry, the policy can be renewed online. Here’s how–


  • Compare and shortlist a plan


The first step is to compare the available plans and then choose the best two-wheeler insurance policy available in the market. The market is flooded with more than twenty two-wheeler insurance policies and without comparing the available plans, you cannot ensure the best policy for your clients.


  • Arrange for inspection of the bike


Since the existing policy has lapsed, there would be an inspection of the bike before renewal is allowed. Once the policy has been shortlisted, the insurance company should be contacted for arranging an inspection. The insurance company would send its surveyor for inspecting the bike after which an inspection report would be prepared. Once the report is submitted to the insurance company and the company finds the report satisfactory, the policy would be allowed to be renewed.


  • Pay the renewal premium and renew the policy


Once the inspection has been done and the insurance company gives its approval for renewal, payment of the renewal premium would be the only thing left for renewing the policy. Premium can be paid online since online renewals are quick and easy. Once the client pays the renewal premium, the two-wheeler insurance policy would be renewed instantly.


However, a break in your two-wheeler insurance policy can be renewed through your MintPro app without an inspection! The new policy’s risk cover starts in a day or two after the policy is renewed, depending on the insurer.




Wasn’t the process quite easy? Online renewals are meant to make your life hassle-free!


Things to remember when renewing the policy


When the two-wheeler insurance policy is being renewed, make sure your customers keep the following in mind–


  • The IDV of the policy should not be too low. It should be reasonable in the context of the market value of the bike and its age. Opting for a low IDV would reduce the claim in case of theft or total loss of the bike.


  • Comprehensive two-wheeler insurance plans offer a range of add-ons which help in increasing the scope of coverage. The add-ons required by your customers should be selected on renewal if the same had not been selected when the policy was bought


  • The renewal should be done within 90 days of lapse of the policy to retain the accumulated no claim bonus (NCB) discount. If the renewal is delayed, your clients would lose the NCB applicable in their policy


  • The NCB should be used for claiming a discount in the renewal premium


  • Your customer should try and retain the NCB for claiming discounts. Advise your clients to pay for smaller claims themselves because if a claim is made, the accumulated NCB is lost. By paying smaller claims, your customers can retain the NCB.


Long-term two-wheeler insurance policies


An attractive choice for your customers would be to choose long-term two-wheeler insurance plans. These plans would come with a continuous term of 2 or 3 years thereby eliminating the need for annual renewals. As the coverage would continue, the policy would not lapse and would not involve the hassle of inspections before renewals. Moreover, long-term two-wheeler insurance plans also help your customers save money as discounts are allowed on premiums. Read our article on long-term motor policies: what you should advise your clients for more details by clicking here. 


Continued coverage on two-wheelers is important if your clients want to use their bikes on Indian roads. Advise your clients on the need of renewals and help them renew their policies online. The online mode would provide a convenient way of renewals and would cut down on unnecessary hassles faced by both you and your clients.


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