How to Save Money While Renewing Two-Wheeler Insurance Online?

A two-wheeler can help you reduce your dependency on public transportation. It is one of the most effective ways to get through traffic. Protecting your purchase with a policy can help you take care of the damage costs in the event of an unfortunate incident. You can protect your vehicle by getting a bike insurance policy. While it is an effective way to keep your vehicle safe, purchasing the policy should not be a burden that you cannot afford. You can decide on the one that suits you from the myriad affordable policies available out there. Apart from this, if you want to save money while getting your policy renewed, you can do so by following certain steps.

Why should you renew your two-wheeler insurance policy on time?

When you don’t renew your two-wheeler insurance on time, you end up with a break-in policy. This happens when you renew the policy after the expiry date, in which case, the insurance company has to check your bike again as per protocol. Other than that, you could also be looking at a higher bike insurance premium.

When you renew your insurance within the specified time period, you can easily consider which add-ons you should include or exclude. This renewal period is beneficial for the policyholder to adjust the budget of their policy without any hassles which occur after the policy’s expiry.

By renewing your insurance cover on time, you can ensure that you can retain your No Claim Bonus to be carried forward. Depending on the insurance company, there is a specific frame within which you should renew the policy to retain the NCB. After this period, the chances of losing out on this discount are high.

Above all, an on-time two-wheeler insurance policy renewal is important for the policyholder’s peace of mind.

Save money during your bike insurance renewal with the following tips:

  1. Take advantage of the NCB:

When you are carrying out the online renewal of your two wheeler insurance, insurance companies offer a discount called the NCB (No Claim Bonus). This discount is applied to the upcoming policy premiums if you haven’t filed for a claim for that particular year. If you have not filed for the claim for 5 years, the accumulated NCB can provide you with almost 50% discount on your premiums on renewal.

2. Opt for a high voluntary deductible:

Bike insurance comes with two deductibles, compulsory and voluntary. A compulsory deductible is an amount you must pay, while a voluntary deductible is something you can pay when filing a claim. When you opt for a voluntary deductible, an insurance company will offer you a premium discount. This will help in reducing the payment amount at the time of renewal.

3. Avoid unnecessary add-ons:

An add-on is an additional coverage you can choose to enhance your insurance policy. They help you get coverage for specific situations that may not be covered by the policy. But you must be mindful while selecting the add-ons for your plan as including unnecessary add-ons in your policy will increase your premium amount. If you are stringent with the add-ons you include in the policy, it is possible to save money during your bike insurance renewal.

4. Renew the plan on time:

One of the easiest ways to save money at the time of bike insurance online renewal in India is to renew your policy on time. A failure to renew the plan on time will lead to you missing out on the No Claim Bonus. To retain your NCB discount, you will need to renew your policy within 90 days of its expiry. If any further delay leads to your plan becoming inactive, then you will have to forego your NCB benefits and purchase a new policy altogether. Getting the policy renewed on time will help you in saving this money.

5. Requirements: 

You must understand your requirements and make adjustments to your policy coverage during the tenure of the policy, as a lot of things can change in your life. You may have bought the policy with the need for extensive coverage for a brand-new car. Your bike may not need the same amount of protection as it gets older. To avoid losing money at the time of renewal, you should make the appropriate changes to avoid paying for unnecessary coverage.

6. Anti-theft devices:

An anti-theft device is an installation that will lessen the probability of your bike being stolen. Installing these devices on your bike will provide the insurance company with the confidence that you have taken measures to protect your bike. If possible, you should declare the installation of these devices at the time of renewal. The insurance company will consider the reduced risk and help you lower the premium.

7. Increased tenure of policy:

Generally, individuals opt for yearly policies, but you can get bike insurance policies for a longer tenure. For instance, you can get a three-year bike insurance policy, which will save you from the hassle of constantly renewing your policy every year. Plus, a policy with a longer duration is comparatively cheaper than policies that are active for one year.


To make the process of purchasing bike insurance simpler, you can always get your two wheeler insurance online. You can research online about the different plans available. A lot of good insurance companies also allow you to carry out the renewal of the policy through their websites. Getting your policy renewed on time can help you save money. You can also calculate the correct IDV, make use of your NCB, avoid including many add-ons to your policy and opt for a voluntary deductible to save money while getting the policy renewed.

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