How to Renew Your Two-Wheeler Insurance

17 Feb 2019

India has seen a rapid rise in two-wheeler ownership. And that has also increased the incidence of accidents involving two-wheelers. So, for your peace of mind and to protect you financially, you must get a good two-wheeler insurance for your bike or scooter. What's more, third-party insurance is mandatory under the Motor Vehicle Act.

However, most two-wheeler insurance policies last a year, and it is your responsibility to renew it. When you do renew the policy, you have the option of paying the insurance fees either online or offline.

In case of offline payment, you can carry out the following steps

• Visit your nearest Liberty General Insurance branch
• Show all your previous documents for verification, and then fill out the renewal form. In case of own renewal, there is no need to submit a new proposal form if there is no change in risk / coverage details.
• Submit all necessary documentation
• Make the payment
• Get the receipt

When it comes to online payment, you must do the following steps

• Visit Liberty General Insurance's website
• At the top of the page, click on two-wheeler insurance
• You will be redirected to a page with two options: Buying online and 'Renew LGI policy'. Click on the second option.
• Here, you will be asked to enter your insurance number and your vehicle's registration number (Do note that if your vehicle was purchased last year, type 'New').
• You will be given the payment option, following which you will be redirected to a payment gateway.

Two-Wheeler Comprehensive Policy Covers the Following:

• Coverage in case of loss or damage to the vehicle due to an accident
• Coverage to the vehicle in case of theft/burglary
• Coverage in case liabilities arising from Third-party losses

Benefits of Renewing your Policy Online

Gone are the days when you had to call up your trusted insurance agent to come and collect the premium and then deliver the renewed policy document the next day. Go to your insurer's website (or any other provider of your liking), key in the details, check the quotation and make the payment. Policy generation is instant, and you can download and print a copy almost immediately. This way, you can experience seamless convenience in choosing the policy provider, minimal documentation hassles, clear information and secured payment options.

Long-Term Insurance

Insurance providers have launched long term insurance products, which can cover your two-wheeler for three years (Old vehicles) / Two Years (Old vehicles) & Five Years (New Vehicle). The significant benefit of this option is that the premium is fixed for the whole term and does not vary, unlike in the case of yearly renewal where usual price hikes by insurers invariably increase the premiums.

So, summing up, remember to check the fine print before you renew your two-wheeler policy, know what feature you want, compare premiums, and most importantly, do it within the due date!

Disclaimer: For more details on risk factors, terms & conditions please read sales brochure carefully before concluding a sale. *The discount amount will vary subject to vehicle specification and place of registration.