Bike Insurance Renewal Process and Companies

by Kirti Saxena Kirti Saxena is a web enthusiast and a writer It is very important for all two wheelers holders to get their vehicle insured. There are very many insurance companies which offer this facility. However, you need to go in for the one which best suits your requirements. Once the insurance policy is taken, it is important to renew it from time to time to enjoy hassle free services. Below follows an overview as to how you can go about with the bike insurance renewal process.

Nowadays private sector insurance companies are bound by government rules and regulations.  So your financial interests are equally secure with the private insurance companies. You can buy insurance policies from them also.  In government companies you have to settle claims through Third Party Administrator (TPA), who plays the role of an intermediary and hence there are chances of typical poor services. In private company, you have the benefit of dealing directly with the company and hence there are possibilities of efficient and satisfactory settlement of claims, particularly when the competition in the field of insurance is quite high.

Bike Insurance Renewal

Buying the bike with your hard earned money and not renewing it in time is like trying to run the bike without fuel.  Never play the risk of delaying renewal of your insurance policy. All the benefits accruing to you from the insurance company are dependent on renewing your insurance policy every time without delay.  Committing this single mistake of non-renewal in time, just think how much would you lose.  Just to count a few major losses,

You lose third-party insurance cover on accidental death of the third party, which can run to lakhs or even tens of lakhs of rupees. Whereas third-party unlimited cover is full liability of the insurer, but due to non-renewal of the policy in time it becomes your liability.

You lose compensation for self and third-party in case of accidental injuries and thus face a heavy financial burden to defray expenses on self and offering compensation to the third-party, the most of which would have been the liability of the insurer had you paid the premium in time.

Likewise you will have to bear all expenses towards your two wheeler’s damages, theft, loss etc. if the policy is not renewed in time.
Bike Insurance Companies
•    Certain reputed insurance companies are quoted below:
•    Reliance General
•    ICICI Bike Insurance
Given below are particulars of certain government sector bike insurance companies:
•    Oriental insurance
•    Top General Insurance Company
•    United India Insurance

Kirti Saxena is a web enthusiast and a writer for different areas including insurance and banking and numerous other sectors.

For more information visit: Bike Insurance Renewal and Bike Insurance Companies

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Created on Dec 31st 1969 18:00. Viewed 0 times.

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