A Simplified Guide to Renewing Your Bike Insurance Online

If you are the owner of a two-wheeler, then bike insurance is a necessity for you. It protects you financially in case of any unfortunate occurrences by paying for the cost of repairs or replacement of your bike, as well as any medical expenses or legal fees that you may incur. Renewing your bike insurance online is not only a legal requirement but also a crucial step to ensure your financial security on the road. With the advent of technology, renewing bike insurance online has become a seamless process that saves time and effort. 

Let us explore the step-by-step process of renewing bike insurance online so that you can stay protected while zooming through the streets.

How to Renew Your Bike Insurance?

The digital age has brought along with it many comforts, one of which is the ability to buy and renew insurance from the comfort of your home. Here’s the step-by-step process for renewing your bike insurance through the lender’s website/app: 

Step 1: Choose a Good Insurance Provider

Select a reputable insurance provider that offers an online renewal option. Research their policies, customer reviews, and claim settlement ratio to ensure you’re making an informed decision.

Step 2: Visit the Insurance Provider’s Website

Access the official website of your chosen insurance provider. Look for the ‘Renew Bike Insurance’ or ‘Online Renewal’ section on their homepage.

Step 3: Verify Bike and Policy Details

Provide your bike’s registration number and existing policy details (if applicable). The system will retrieve your bike’s information and display your policy details. Review these policy details, including policy coverage, premium amount, and add-ons. If you wish to make any changes to your coverage or add-ons, this is the time to do so.

Step 4: Personal Details and Identification

Enter your personal details and identification documents. This may include your name, contact information, and Aadhaar/PAN number for KYC purposes.

Step 5: Choose Add-Ons (if needed)

If you want to enhance your coverage, choose from a range of add-ons such as zero depreciation, roadside assistance, and personal accident cover for pillion riders.

Step 6: Premium Calculation and Payment

The system will calculate the premium based on your chosen coverage and add-ons. Review the premium amount and proceed to make the payment. Most insurance providers offer multiple payment options, including credit/debit cards, net banking, and digital wallets.

Step 7: Policy Generation

After successful payment, your renewed bike insurance policy will be generated instantly. You will receive a digital copy of your policy document via email. You can also download and print the policy for your records.

Step 8: Verify Policy Details

Thoroughly verify the policy document to ensure that all the details are accurate. This includes your personal information, bike details, coverage, add-ons, and premium amount.

Why is Renewing Bike Insurance So Important?

With the privilege of owning a two-wheeler comes the responsibility of preparing for the worst case scenario. Around 1,50,000 bike accidents take place every year in India, and riding around without a physical helmet and financial shield-bike insurance- is a simply foolish idea.

There are almost endless reasons why renewing your bike insurance is always a great idea; some of them are as follows:

  1. Legal Requirement: As per the Motor Vehicles Act, 1988, having at least a third-party liability insurance is mandatory for all vehicles, including bikes, driven on Indian roads. This insurance covers damages caused to third parties involved in accidents caused by the insured vehicle.
  2. Financial Protection: Bike insurance provides financial protection against unforeseen events like accidents, theft, natural calamities, and vandalism. Repairing or replacing a bike can be expensive, and insurance helps alleviate the financial burden by covering repair costs or providing compensation in case of total loss.
  3. No-Claim Bonus (NCB): One of the primary reasons for cost savings during renewal is the No-Claim Bonus (NCB). If you have not made any claims during the policy period, you become eligible for an NCB. This bonus results in a significant discount on your renewal premium. The NCB can increase with each claim-free year, offering substantial savings over time.
  4. Renewal Discounts: Insurance companies often offer renewal discounts to retain existing customers. These discounts acknowledge your loyalty and commitment to maintaining insurance coverage.
  5. Personal Safety: A comprehensive bike insurance policy not only covers third-party liability but also offers coverage for damages to your own bike. This is crucial as it ensures you are financially protected against repairs or replacement costs in case of accidents.
  6. Third-Party Liability: In the unfortunate event of an accident causing injury or damage to someone else or their property, third-party liability insurance covers the legal liabilities that might arise. It safeguards you from hefty compensation claims and legal disputes.
  7. Own Damage Coverage: Comprehensive bike insurance covers both third-party liability and own damage to your bike. It includes damages due to accidents, natural disasters, fire, theft, vandalism, and more. This coverage helps you avoid bearing the entire cost of repairs or replacement.
  8. Personal Accident Cover: Many bike insurance policies include a personal accident cover for the owner/rider. In case of accidental death or disability, the policy provides compensation to the insured or their family, ensuring financial support during challenging times.
  9. Coverage Add-Ons: Bike insurance allows you to customise your coverage with add-ons like zero depreciation, roadside assistance, engine protection, and pillion rider cover. These additional options enhance your policy’s scope and tailor it to your specific needs.
  10. Resale Value: A bike with valid insurance has a higher resale value as potential buyers are more likely to trust a vehicle that comes with a comprehensive insurance policy. This can be advantageous if you decide to sell your bike in the future.


Renewing your bike insurance online offers a hassle-free and time-efficient way to stay legally compliant and protect your valuable asset. With just a few clicks, you can secure your bike against unforeseen accidents, theft, and damages. Follow this step-by-step guide to renew your bike insurance online and enjoy the convenience of digital transactions, ensuring peace of mind every time you hit the road.

Amit Arora Finnable


I am a seasoned retail banker with over 21 years of global experience across business, risk and digital. In my last assignment as Global Head Digital Capabilities, I drove the largest change initiative in the bank to deliver the end-to-end digital program with over US$1 billion in planned investment. Prior to that, as COO for Group Retail Products & Digital, I implemented a risk management framework for retail banking across the group.
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