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Common Mistakes to Avoid When Renewing Bike Insurance


Written by Sumit Arora

Updated Aug 19, 2021

Here are some basic mistakes that you should avoid while renewing your bike insurance policy. It will help you improve your coverage and get better insurance coverage.

When you purchase a new two-wheeler, the dealer can offer you a basic insurance policy with a one-year policy term. You need to renew the plan every year that could be a tedious task for many people, especially for those doing it for the first time. However, apart from renewing your policy on time, you must take some actions to capitalise on your policy that many people fail to do. So, let’s discuss the common mistakes to avoid while renewing my bike insurance.

Common Mistakes to Avoid When Renewing Bike Insurance

Mistakes to Avoid During Bike Insurance Renewal

The bike insurance policy renewal is a simple process that takes a few minutes only to get your bike insurance plan renewed. But, without a proper understanding of the bike insurance, you can make some mistakes during the policy renewal. Here are the mistakes you should avoid while renewing your bike insurance policy:

Not Availing NCB Discount

No Claim Bonus (NCB) is a discount rewarded by the insurance company during the policy renewal process for not making any claim in a policy year. However, many people renew the policy after its expiration in the grace period, which makes them lose the NCB discount. So, you should avail of the NCB discount by renewing your policy within the expiry date that reduce your premium for the next year. 

Not Opting For a Multi-Year Plan

During the policy renewal, people should opt for a multi-year policy, if possible. Many people tends to make this mistakes of not opting for a long-term plan and keep on renewing their plan every year. By buying a multi-year plan during the renewal process of bike insurance, you can save on the premium along with leaving the worry about the yearly policy renewal. 

Not Choosing the Higher IDV 

You are allowed to customise your Insured Declared Value (IDV) based on the requirement you experienced in the policy year. The IDV refers to the market value of your car which you are expected to get in case of total loss. The car insurance premium can be enhanced by opting for a higher amount of IDV but can be worth the money as it will increase the coverage of the plan. Hence, it is recommended for every policyholder to increase the IDV during renewal, if find necessary.

Not Assessing Your Add-on Needs

A comprehensive car insurance plan hosts a range of add-on covers that enhance the policy benefits. But during the renewal of the policy, you generally ignore those covers citing that they will increase your policy premium. But, the add-on covers are quite helpful in real and can protect you from a financial crunch later. For example, if the engine of your bike gets damaged, the engine protect cover can compensate your loss. Hence, you should assess your needs before policy renewal and add some add-on covers as per your requirements. 

Not Intimating About Modifications

Every bike insurance policyholder is required to intimate the insurance company about any modification done to the insured bike during the renewal process. In the process of declaring modifications, you should provide details about the modified bike insurance parts to ensure no-hassle occur during the claim settlement. In case you do not inform your insurance company about modifications during the renewal process, then your claim can get rejected or you can get a reduced claim amount.

Filling Out Incorrect Details

One of the most basic mistakes policyholders make is filling incorrect data, details or information during the bike insurance renewal process. You should be very careful while entering any details like two-wheeler registration number, last insurance policy details, year of bike purchase, etc. If any of these details are filling in wrongly, your bike insurance policy can be declared invalid. So, you should ensure providing the right and accurate information during the renewal of the bike insurance policy. 


It is easy to renew a two-wheeler insurance policy. But, without proper research and understanding, you can make a few mistakes aforementioned in this article. So, in this article, we have tried to put in the right things to avoid mistakes while renewing the policy. We hope the information in this write-up will help you improve and avail of your bike insurance policy to the fullest.

Also Read:

How to Avoid Buying A Wrong Two-Wheeler Insurance?

Bike Insurance Misconceptions to Be Ignored

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.


Written by Sumit Arora

Sumit is an insurance industry veteran with more than 20 years in the industry. Sumit is a frequenRead More

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