Renewing your bike insurance is important. Fail or forget to do so and you are riding down a one-way street to hefty fines & even jail time. Earlier, the process to renew a bike insurance policy was long and arduous – just the thought of it made people think ‘I will do it tomorrow. And you know how that old saying goes – tomorrow never comes!
Luckily things have changed. The internet allows you to renew bike insurance online. Just a couple of clicks and you can zoom through the process, just like you zoom through traffic. Now, renewing your plan is as easy as ordering a pizza. The downside is that people have become complacent and complacency leads to mistakes.
Here is a list of the common errors people make when they renew bike insurance online. Hopefully, it will ensure you stay away from making similar errors in judgment and ensure your renewal process is efficient & streamlined.
1. Not reviewing their coverage
If you have comprehensive bike insurance, you should review the coverage of your plan. Maybe you can include some add-ons, or maybe you can drop some. If you rode single then but now ride someone to work every day, maybe throw in the passenger cover add-on. If you’ve managed to rack up a good amount of NCB by riding safely, you can choose to protect your hard-earned NCB with the NCB protector add-on.
There is a lot you can do to keep your coverage in line with your needs. So the next time you renew your bike insurance online, remember to evaluate your needs and protection before making the payment.
2. Not thinking long-term
Single-year plans use to be your only option. However, times have changed and you can now buy bike insurance for up to 5 years now! What does this mean for you? Well, to begin with, it means better savings. This is because long-term plans are generally more affordable and come with more effective NCB benefits. Moreover, you do not have to renew your plan for up to 5 years! So the next time you renew bike insurance online, remember to give long-term plans a thought.
3. Being loyal
Sticking to one insurance company has its perks, sure. But stay for too long and you could be missing out on much better offerings in the process. Therefore, when you renew bike insurance online, remember to first check for better deals. There is every chance you will get a better plan, at a more affordable price just by switching your insurance provider.
You could also opt for a new-age insurance provider, one that has modern facilities such as online claims & customer support such as IFFCO Tokio. This gives you access to technologically advanced protection.
So if you are about to renew your bike insurance online, stop and take a lot at the 3 aforementioned pointers. They will help you get better coverage and maybe even a better deal. I hope this article has been helpful, good luck and all the best. Ride safe!