Mistakes To Avoid While Renewing Liberty Bike Insurance
Updated On Aug 08, 2021
Read this article to understand and keep in mind the mistakes that you should avoid while renewing your bike insurance with Liberty General Insurance.
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When you get bike insurance coverage, you must renew it on a regular basis. If you want to stay insured, you must renew your insurance on time. Accidents happen, and if you haven't updated your bike insurance, they may be financially catastrophic. Although renewing your bike insurance is a simple process, it is common to make mistakes and miss out on a few benefits provided by insurance companies. In this article, you can read about the common mistakes that you should avoid while renewing your bike insurance with Liberty General Insurance.
Common Mistakes To Avoid While Renewing Bike Insurance With Liberty Insurance General Insurance
The procedure of renewing two-wheeler insurance online is simple, and it only takes a few minutes to renew your policy with Liberty General Insurance. All you have to do is give information about your two-wheeler and your prior insurance coverage. However, if you don't understand the basics of bike insurance coverage, you could make some frequent blunders when renewing it online. The following are a few common mistakes that you should avoid while renewing your bike insurance with Liberty General Insurance -
Not Claiming NCB
NCB, or No Claim Claim Bonus, is a discount offered by Liberty General Insurance during the renewal process if you have not filed any claims during the preceding policy period. You can get the NCB discount if you renew your insurance within 90 days of it expiring. However, one of the most typical errors is to renew the insurance after it has expired for a lengthy period of time. You will forfeit the NCB discount collected over the years if your coverage expires within 90 days. To take advantage of the NCB discount and assure continuous coverage for your two-wheeler, it is best to renew your two-wheeler insurance plan before it expires.
Not Determining Your Add-On Needs
A Comprehensive Policy includes a number of add-ons that supplement the policy's advantages. However, when it comes to renewing the insurance, you frequently overlook them, claiming that add-ons will raise the price. However, add-ons may be beneficial and save you money in the long run. The Engine Protect add-on, for example, will cover the loss if your bike's engine is destroyed. So, before you renew your coverage, consider your needs.
Not Informing Liberty General Insurance About Modifications
If you have made any modifications to your two-wheeler, you must notify Liberty General Insurance during the renewal process. To avoid complications during the claim, you must submit details regarding the changed parts. If you fail to notify us of any changes, your claim may be denied or your claim amount may be decreased.
Not Renewing Policy Before Expiry Date
Allowing your bike insurance policy to lapse will result in you losing coverage for your two-wheeler. A mistake within that time period would result in a substantial financial loss. You may also lose your NCB benefits if you do not renew your insurance within 90 days of its expiration date. As a result, make sure you renew your insurance before it expires.
Filling Out Wrong Information
Filling out inaccurate information during the renewal process is one of the most common blunders you may easily avoid. When submitting information such as the vehicle registration number, prior insurance data, and the year of purchase, you must be cautious. The policy may be invalid if this information is discovered to be inaccurate. As a result, make sure you submit accurate information when renewing your two-wheeler insurance policy.
The procedure of renewing two-wheeler insurance online is simple. However, if you don't have the right information or conduct an extensive investigation, you could make some of the blunders listed in this article. So, while renewing your coverage, be educated and avoid the pitfalls highlighted in this article.
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.