The majority of the two-wheeler insurance policyholders aren’t aware of the importance of renewing their bike insurance on time. Below mentioned are the details on what happens when you do not process your 2-wheeler insurance renewal. Read to know more!
- You will not get adequate financial coverage
You are wrong if you think buying a two-wheeler insurance policy is enough. Buying a bike insurance policy is not only a one-time job, but you should not also forget about a 2-wheeler insurance renewal.
If your policy gets lapsed, you will not benefit from your bike insurance policy. No matter what are you into, you should try a 2 wheeler insurance renewal online or buy a new one. Because ignoring policy will eliminate all benefits that you can claim when met with an accident. For extended coverage, always renew your insurance on time.
You will not get third-party liability cover
2-wheeler insurance renewal is not only important but mandatory in India. Whether you should renew your insurance or you should buy a new bike insurance policy. However, if you do not renew your two-wheeler on time, you will not get any financial assistance for third-party liability cover. It is one of the most important aspects of any policy.
If your bike has any damage to a third party, then the insurer will pay for the legal process as well as a compensation amount to you. Doing your bike insurance renewal on time will keep you safe from the hassles of paying third-party liabilities.
You will be penalized by RTO government officials
If you do not focus on your 2-wheeler insurance renewal and miss it, then it is a crime per law. Having an expired insurance policy is as similar to having no insurance policy. And, as per the rules of India, riding a bike without an insurance policy is a crime. So, if you miss your two-wheeler insurance renewal and government officials catch you, then you will be penalized heavily. In addition, we recommend you always renew your two-wheeler policy on time to avoid any damage and penalty.