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Consequences of Riding Bike With A Lapsed Two Wheeler Insurance

Written by Sharad Bajaj
Updated On Oct 23, 20202 min read

You must be aware about consequences of riding bike with a lapsed two wheeler insurance.

What happens if i don't renew my bike insurance? Bikes make life easier and quicker. From going to work every day to planning road trips, a bike does the job effortlessly. Hence, you must protect your bike against the uncertainties of the road. To do so, you get your bike insured soon after the purchase. However, you can often miss the renewal date. When you miss the renewal date, your policy gets lapsed and becomes invalid. Much like riding bikes without any insurance policy, riding with a lapsed policy can lead to severe troubles. You should never ride with a lapsed policy and here is why.

Why You Should Not Ride With A Lapsed Insurance Policy?

The insurer provides different coverage under different policies. However, when the policy lapses, the insurer is no longer liable to provide any coverage. Here is what you will miss out when different policies lapse.

What Happens When Third Party Insurance Policy Gets Lapsed?

What happens if I don't renew my bike insurance? As per the Motor Vehicle Act in India, bikes riding on the county’s road must have a third party insurance policy and riding without a valid third party insurance policy is a punishable offence. When your third party policy lapses, it becomes invalid. By riding with it, you become eligible for fines and legal charges. Furthermore, your insurer will not bear your third party liabilities. Any compensation for third party damage will go from your pocket.

What Happens When Own Damage Insurance Gets Lapsed?

Own damage insurance policy provides coverage for the insured’s bike. In case your bike gets damaged in any natural or man-made calamities, your insurer will take care of the expenses. However, if the policy has expired when your bike gets damaged, you will not get any coverage from the policy. All expenses will fall on you.

What Happens When Comprehensive Insurance Policy Gets Lapsed?

The comprehensive bike policy provides the coverage for both third party liabilities and own damage incurred by the insured’s bike. Hence, if you fail to get your bike insurance policy renewed on time, you will face legal charges for not having any third party cover and you will face huge loss for not having any own damage cover.

No Claim Bonus And Lapsed Insurance Policy

No Claim Bonus (NCB) helps to reduce the premium during renewal. If you have not made any claim in the previous year, you become eligible for the No Claim Bonus. A discount between 20% to 50% is applied to the premium of your renewed policy. However, you can avail this discount only if you renew your policy within 90 days from the expiration. If you fail to do so, you will end up losing the No Claim Bonus.

What Happens When You Fail To Renew Your Policy Even Within 90 Days Deadline?

Even after the expiry of your insurance policy, you can get it renewed. However, if you do not get your bike insurance policy renewal even within this 90 days window beginning from the policy expiry date, the policy becomes null and void and hence, cannot be reinstated. In such a scenario, you have to opt for a new insurance policy. As stated above, No Claim Bonus will also become invalid.

Policy renewal is an easy job. You can go for the traditional offline method and visit your insurer’s office or you can opt for the online mode. The online mode will be time saving and convenient. Remember, timely renewal is the key!

Types of Bike Insurance You Should Know:

Third Party Two Wheeler Insurance

Comprehensive Two Wheeler Insurance Policy

You May Also Like To Read:

Own Damage Two Wheeler Insurance

Two Wheeler Insurance Add-ons

Bike Insurance Details by Registration Number

Fine for Driving Two Wheeler Without Insurance

How to Get Duplicate Two Wheeler Insurance Copy Online

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.

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Written by Sharad Bajaj
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 Sharad is an insurance industry veteran who has managed motor insurance products for over a decade. He helped set up and scale the motor insurance vertical for a leading insurance company in his previous stint. In his spare time, Sharad likes to read and be in tune with nature.

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