You have heard about the importance of two wheeler insurance, time and again. Two wheeler insurance is very important as it safeguards your Activa scooty from a number of circumstances like physical damage, accidental cover, theft, etc. Hence, it is recommended that you should buy activa insurance for your activa. If your insurance is expired then make sure you renew it before it gets lapsed. This is extremely important as in case of any unforeseen mishap you have to undergo unnecessary anxiety.
However, before you opt for two wheeler insurance renewal, here are a few things that you should keep in mind.
Decide Before The Expiry
It is advisable to make a decision related to the renewal of your activa insurance prior. You should make a decision 45 days prior to the expiry date of your existing policy. Do not wait for your policy to lapse. If your policy lapses, you may lose all the benefits you had accumulated so far.
Avail The No Claim Bonus
If you are renewing your policy from the same insurer then you can ask for no claim bonus, if you haven’t claimed anything in the previous year. You can get a discount of 15% to 20% on the premium of your two wheeler insurance renewal as a No Claim Bonus. If you do not claim anything for multiple years, then this amount can go much higher.
Review Your Coverage
After having a policy for a year, you would know what works for you and what doesn’t. So, at the time of your two wheeler insurance renewal, you can ask for higher or lower cover by changing the details of your policy. Changing the cover of your policy will affect your premium. For instance, if you ask for add-on cover in the policy like towing charges, then your premium will also increase.
Correct Your Information
Pay close attention to what details you are filling under your personal details section. If you notice any mistakes or discrepancy such as an error in the name, age, etc. then you can submit an application. Send your application along with the documents to substantiate the change. If you fail to do so then it may result in repudiation or a delay in the claim settlement process.
Do Not Miss The Renewal Date
It is advisable to renew your policy before in advance. But, in case if you’ve missed the expiry date of renewal, you can make the most of the grace period provided by the two-wheeler insurance companies. Insurance companies usually offer a grace period of almost a month or a bit more than that depending on the policy. In case you forget to pay the premium on time then you can recover the policy by utilizing this grace period.
It is important to renew your policy on time. You can even renew it online to save your time and money. Just choose the right platform.