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How To Cancel Two Wheeler Insurance Policy?

Written by Sharad Bajaj
Updated On Apr 13, 20212 min read

There are many reasons you may want to cancel your two wheeler insurance policy. There are certain circumstances in which you would be able to do this in order to switch to a different insurance company. Read all about when this is possible and how to do so.

While ensuring that your two-wheeler is insured is mandated by law, sometimes you may want to cancel your two-wheeler insurance policy and switch to a different bike insurance company. You may want this due to high bike insurance premium costs or general dissatisfaction with your insurance policy, or you may find another policy from a different company more appealing and more suited to your needs. In such a situation, you may be able to cancel your two-wheeler insurance during the policy tenure itself, without waiting for the policy to expire before switching to a different insurance company or policy. Let’s read all about how to do this.

When Can a Two Wheeler Insurance Policy Be Cancelled?

A two wheeler insurance policy can be cancelled in the following situations:

  • If there are no claims made on the insured vehicle during the running policy term, the insurance cover can be annulled.
  • If the policyholder has made arrangements for alternate coverage at least up to third-party bike insurance as is mandated by law and can produce documentary evidence of the same.
  • In case of ownership change, there is a requirement of documentary evidence of ownership transfer in order to get the policy annulled and switched to a different insurance company.

How Can Two Wheeler Insurance Be Cancelled?

The following are the steps required to cancel the two wheeler insurance:

STEP 1: Contact your insurance company and inform them that you would like to cancel your insurance policy.

STEP 2: After verbally informing the company, make sure that you notify them in writing as well.

STEP 3: Present all the required documentation for arrangement of alternate insurance as instructed, either by mail or fax, or by physically dropping the documents at the nearest branch of your insurance company.

Following these steps, your insurance company will retain a minimum premium of Rs 100 and the remainder of the premium that you would have paid to the insurance company would be returned to you on a pro rata basis.

Also Read

Benefits of Zero Depreciation Cover For Bike

Difference Between Zero Depreciation And Comprehensive Bike Insurance Cover


In a nutshell, it is possible to cancel two wheeler insurance only when you have sufficient documentary evidence of alternate insurance arrangements. This is to make certain that no vehicle is ever without insurance, at least up to third party, as is mandated by the Motor Vehicles Act 1988. You may want to switch to a different insurance company for a variety of reasons, such as more attractive schemes or lower premium. You will now be equipped with the knowledge on how to do so.

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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