What Are The Different Ways To Renew Your Two-Wheeler Insurance Policy?

Two-Wheeler Insurance Policy

It is a very hattrick work for every bike insurance policyholder to renew your two-wheeler insurance. Your responsibility doesn’t end just by purchasing an insurance policy for once. Especially when there are bulk insurance companies available in the market. Not only about the companies but the way to renew the policy has also changed a lot.

The insurance sector has been mounting in India since the 19th century. At that time people used to make a team and contribute to the share of their assets. Later this thing came with a new idea by the name of insurance. Also, in previous times we used to purchase insurance for earning assets like land, shops, houses, factories, and buildings. But nowadays we can insure any object like mobile, car, bike, house and a lot of other things. The insurance sector has no limits, think of an object and you can surely find an insurance provider for that.

In old times, the method of renewing or purchasing an insurance plan is also different from what we have today. At that time, we have to go to the company and do a lot of paperwork. Whereas in recent times, we can also choose to do it online. Obviously, the ancient time method is also there but most people choose online methods to save time and money. Let us talk about the different ways to renew a bike insurance policy.

  • Renewing through an insurance agent:

    The oldest fashioned way to renew your two-wheeler insurance policy is by contacting an insurance agent. Though people do not incline to this way in recent times. But this is the one and only way for our ancestors because they don’t know much about insurance. They need a helping hand to choose a policy for them hence they contact the most experienced person. Yeah, an insurance agent is the most knowledgeable person in this sector. He has the knowledge of the premiums, benefits, and features of a particular insurance company. Apart from this, this method is best recommended for people who are not technology-friendly. Also, an insurance agent is well trained and licensed to solve your insurance-related queries.

  • Renewing through an insurance Broker:

    An insurance broker is wholly different from an insurance agent. Most of the customers think that both have the same work to do i.e. to issue a policy for customers, then how can they be different. But to get out of this misconception it is necessary to know that an insurance agent deals with the policy of a single insurance company. Whereas an insurance broker has the authority to work for different insurance providers. Specifically, we can say that a broker works to take care of your needs. It works as a bridge between an insurance company and customers.

There are different varieties as some work for a single company while the other work for multiple companies.

  • A broker that works for only one company is called a Captive broker.
  • An independent broker is the one who works for multiple insurance companies. They have a wider variety of insurance products and options for their clients.
  • Visiting the branch of the insurance company:

    Renewing an insurance policy gets more flexible these days. If you are not a tech-savvy person or do not have too much communication with people to contact an agent or broker then you can go to a nearby branch office to renew your insurance policy. Surely it would take a little bit more of your physical time to visit the branch.

You can contact the executives at the branch of the company to renew a bike insurance policy. They will ask for your previous policy number or document to renew it. Fill up an acknowledgment form with some details. After this, pay the premium amount either by cash, debit card, demand draft, or cheque. Subsequently, they will apply for the renewal of your insurance policy and the new policy documents will be sent to your residential address within a week.

  • Renewing through an online method:

    Online ways to renew your two-wheeler insurance policy always comes with numerous options. A few years ago, it was not possible to renew an insurance policy online. You have to visit the nearby branch to renew it. With passing time, this new invention lets us have more freedom to save time and money. As previously you spend the same amount of money for consulting an agent or broker. Also, it is also a matter of seconds to renew the policy over an online platform. Moreover, you can choose to renew a bike insurance policy by either of the below ways as per your comfort.

  • Through partner applications:

Most of the insurers in recent times have tied up with various mobile payment vendors. Users can also use these applications to renew their policies conveniently. Some of the applications are google pay, Paytm, and Phone Pay. You don’t have to download any special application of a particular insurance company. This is just like doing a mobile recharge on any tied up application.

  • Through mobile applications:

Customers can renew their two-wheeler insurance policy through the mobile application of a particular insurance company. Most of the famous insurance companies have their own mobile application. Users have to log in to the application by entering their policy number and date of birth mention on the policy documents.

  • From the official website:

You can also renew your two-wheeler insurance policy through the official website of the insurance company. All major companies have their website where you can check multiple plans, premiums, and coverage options. You can also check for the customer reviews on the website. Checking for reviews will help you to decide whether a particular company is satisfying its customer through their service or not. Moreover, this is known as the best way to get an instant policy. You just have to purchase a policy and pay through any online medium.