When it comes to buy a bike insurance plan, some bike owners think about the safety of the bike while others try to follow the rules and keep insurance for the same. However, here one needs to know that the policy offered by the insurance service provider is just for a specific period. In most of the cases, it is for one year. However, in some cases, there are also service providers who offer insurance for a longer-term, say two or three years. It does not matter when the policy gets expired, but the important thing here is whether one goes for the timely renewal of the same or not.
Why you should get the policy renewed on time?
- Total protection against unforeseen events: Having a bike is always helpful when it comes to commuting on a day to day basis. In case of an earthquake, flood or lightning, it may get damaged, and if one does not have got it insured, he may have to bear the repair cost from his pocket. Natural calamity is something one cannot counter easily. To deal with such situations, it is better to get the policy renewed your time and enjoy the protection against any odds.
- Provision of law is followed: As per the motor vehicle act, one should get their bike insured. If one renews the policy timely, he follows the law and hence avoids penalty or any situation that may trouble him. Adding to the same, one can also avail the benefits of discount and build a better track record which can help him in case of any claim. For this reason, timely renewal of policy matters a lot as far as vehicle insurance is concerned.
- Get protected against the manmade acts: One may be caught in some situations where he may escape unhurt, but the bike gets damaged. The acts of riots, vandalism, and terrorist activities are of such nature where the bike may have to suffer damage, and it could be beyond repairs. When one renews the policy on time, he can save his back from these unwanted expenses.
- Avail the No claim Bonus: No Claim Bonus is provided to those who have a Bike Insurance Policy but have not made any claim in the past year. It motivates people to keep away from making minor claims which may ruin the record of the bike and the policyholder. When one is not at fault, and the damage is severe, he can definitely make a legitimate claim and get the amount from an insurance company. If one wants to have the benefit of NCB, which can help one to reduce the premium, he must renew the policy on time.
- Live without stress: The moment one knows that there is no insurance policy active to protect his vehicle he would have to be extra careful about keeping the bike safe. No doubt, it would lead to some amount of stress, as the owner may always think too much about the safety of his bike. To avoid such situation and stress, it is better to get the policy renewed timely. It might take a few minutes to renew the policy; but in return, it will provide him with complete peace of mind. Plus, he will also get the benefits of having protection to the bike.
- Protects the bike and the rider 24×7: Accident does not happen too often; but one cannot predict either. It can happen all of a sudden. If one has his bike insured, where the rider and pillion are protected, he may not have to worry about the cost of treatment or getting a new bike when the existing one is severely damaged. The benefit of insurance is not limited to the owner only as there is coverage for a third party as well as other riders who ride the bike. For this reason, to keep the rider and the pillion safe, it is vital to have the policy renewed timely.
So, these are some of the main reasons for which one needs to renew the policy at the right moment. It may be a matter of few minutes; but it can offer complete relief from the hassle of not having insurance.