Renewing Your Bike Policy – Not a Choice or Luxury but A MUST!

A meal for two in a nice, comfy restaurant in Mumbai could cost you Rs.1000 minimum. A movie for two could cost you Rs. 500 minimum. A doctor visit and the prescribed medicines for something as simple as flu could cost one patient anything from Rs. 500 to Rs.1000. You did not hesitate when it came to these expenses. What makes you re-consider your bike insurance?

Now that there is some fresh development to consider with the Motor Vehicle Act being replaced by the New Draft Bill, there has never been a better time to emphasize the need to ensure that your vehicles are insured and that your lapsed policies are renewed!

A comprehensive policy for an average two wheeler costing Rs.50,000 could be anything be from Rs. 1000 to Rs. 1200. That said, it’s not as if you need to pay so much every year either. As your bike gets older even by a year, IDV is applied and it lowers the premium further, making it much more economical for you to renew.  

Remain guilt-free even if you forgot to renew your policy!

Renewing is a once-in-a-year must-do errand. And we very easily miss the deadline given our everyday fight with life and its priorities. Which is why Coverfox.com makes it their priority to make life easier for you? 

Traditionally speaking, expired two wheeler insurance requires inspection and submission of lots of documents. Unearthing these documents for submission is what makes life even more difficult, more than having to remember to renew your lapsing policy. But Cover fox offers you easy ways of renewing your expired policy. You get instant online policy without having to get into any of the above mentioned hassles! And not just that, once you get your Two-wheeler renewed @Coverfox, we make it a point to remind you about your timely renewals and all you would have to do it click on the right place. Life is easy again! 

Renewing your policy offline Vs renewing that same policy online
when you try to renew your policy offline, you are required to submit the RC copy, the previous year’s policy and the bill of any accessories that you may have fit onto your bike. And when it’s the case of an EXPIRED policy, you need to submit, again, an RC copy, the previous year’s policy, that accessories bill PLUS photos with an added inspection of your bike that you will have to pay again for!

Related Article: Don’t risk an angry bike – insure it!

When you try to buy/renew your policy online, here is all the documents you need to submit – ZERO! 

What about the claim process, you ask?

This is usually the dreaded part for even a customer who has been making regular payments and has a fairly easy policy. There is always a debate of how insurance is supposed to make your life easy but doesn’t, when it comes to the claim process. Which is also why we prompt our customers to try Coverfox.com since the aim is only to simplify and break down the two wheeler insurance online process to its simplest form.
And for that, it’s necessary for ANYONE to keep in mind these checks if and when it comes to making a claim:
1. When your bike has an accident anywhere, at any time of the day, make sure to call your Insurance representative to inform that you are facing bike trouble. By making the call you are not just making the claim process easier but also taking help from an expert who has done this before and knows how to guide you.

2. The one thing your bike is extremely vulnerable against is theft and partial theft. Your bike is at extreme risk of being stolen as a whole or in parts i.e. partial theft. We know that calling the police and lodging an FIR is the first thing to do not just because you are helpless but also because an FIR is much-needed at the time of making claim for your stolen bike.

[Source: https://www.coverfox.com/two-wheeler-insurance/articles/two-wheeler-policy-renewal/]