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Reasons Why You Should Never Ride Your Bike With Lapsed Insurance Policy

Updated On Aug 09, 2021

Read this article to find out why you should never ride your bike without a valid bike insurance policy.

What if I don't renew my motorcycle insurance? Mountain bikes simplify and speed up life. A bike does the job easily from working daily to scheduling road trips. Therefore, your bike has to be protected from road uncertainty. So soon after the purchase, you'll receive your bike insurance. However, the renewal date can often be missed. Your policy is delayed and invalid when you miss the renewal date. Like riding bikes without insurance, a lapsed policy can lead to serious problems. You never should ride on a late policy, and that's why. 

Reasons Why You Should Never Ride Your Bike With Lapsed Insurance Policy

Why You Shouldn’t Ride Your Bike Without Bike Insurance

Under different policies, the insurer provides various coverage. If the policy deficiencies, however, the insurer will no longer be liable. This is what you are going to miss when various policies lapse.

  • Legal Trouble 

According to the motor vehicle law, cycling on the roads of the country should have a third-party insurance policy, and it must be punishable for cycling without a valid third-party insurance policy. It becomes invalid when your third party policy lapses. You are eligible for fines and lawsuits by riding with it. In addition, the insurer will not bear any liabilities of your third party. Any third-party damage compensation is taken out of your pocket.

  • Remaining Covered Is Important

In this situation, the coverage you purchased the policy expires. You cannot benefit from the two-wheeled insurance benefits, as the insurance company does not pay a premium to renew this contract. In the event of an unfortunate event, such as a bike accident, you will bear the full cost of the crash.

You may also like to read:- Steps To Get Duplicate Bike Insurance Copy Online 

  • No Claim Bonus

No claim bonus (NCB) contributes to the premium reduction during renovation. You become eligible for the No Claim Bonus if you did not make a claim during the previous year. The premium of your renewed policy will be reduced from 20% to 50%. However, only if you renew your policy within 90 days after the expiry of this discount can you use it. If you don't, the No Claim Bonus will be lost.

  • Post Expiry

You can get it renewed even after the expiry of your policy. However, even within this 90-day window from the date of the expiry of the policies, if the policy is not renewed, the policy will become null and void and therefore cannot be reinstated. You need to choose a new insurance policy in such a scenario. No claim bonus, as stated above, is also invalid.

Renewing Your Bike Insurance 

The experience of the recently acquired or renovated motorcycle insurance has evolved to meet the different needs of the policyholder. One of them is the experience with online insurance. Insurance companies offer the majority of services via the Internet with the advent of digital technology. To renew lapse double-wheeler insurance, your bike insurance policy will be renewed without any problems following a few steps.

Renewing offline bike insurance can take time because there is a lot of red tapes involved. The insurer must first apply in conjunction with the required documentation for bike insurance. The insurer can then request a bike inspection. If the inspection was approved and your motorcycle is insured by the insurance company, in a few days' time you will receive the policy via post. Note that until you receive your bike insurance policy you shouldn't ride the bike.

Also Read:- How To Get Duplicate Bike Insurance Certificate Online

Take Away

Not only is bike insurance mandatory, but it is also essential to purchase an insurance policy. If, after your insurance expires, you are involved in an accident, you are not able to make a claim, which will lead to a substantial financial loss. Make sure that your bike insurance is regularly renewed and ride carefully.

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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