⚡ Quick Summary: Why Renewal Can't Wait
Riding a two-wheeler without valid insurance is not just risky for your finances but illegal in India. Under the Motor Vehicles Act, 1988, a Third-Party Liability policy is mandatory. If caught without it, you face a hefty fine of ₹2,000 for the first offense and potential imprisonment for repeat offenses. However, savvy bike owners know that a "Comprehensive Policy" is the real safety net, as it covers damages to your own bike during accidents, theft, or natural calamities, which Third-Party insurance does not cover.
Renewing your bike insurance online is now a 5-minute process that requires no paperwork. If your policy has not yet expired, you can switch insurers instantly to get a lower premium without a vehicle inspection. The biggest advantage of timely renewal is the No Claim Bonus (NCB). If you haven't made a claim in the previous year, you get a 20% discount on the premium. This discount increases every claim-free year, going up to a massive 50% after five years.
What if it expired? If your policy has already expired, don't panic. Most insurers allow a "Self-Inspection" via their mobile app (uploading photos/video of the bike) to renew a lapsed policy. However, if the gap exceeds 90 days, you lose your accumulated NCB discount entirely. This guide compares the best platforms (PolicyBazaar, Acko, Digit) and explains how to renew instantly while keeping your NCB intact.
How to Renew Bike Insurance Online (Save up to 60%)
Riding with expired insurance attracts a fine of ₹2,000 or even jail. Don't worry, you can renew it instantly online without inspection (in most cases).
Warning: The "Fake Policy" Scam
Roadside agents often hand over a printed policy paper for ₹800 instantly.
Beware: Many of these are fake PDF edits. If you get into an accident, the company will reject the claim. Always verify your policy status on the official Parivahan/VAHAN portal or the Insurer's website immediately after purchase.
The "IDV" Trap (Low Premium)
Don't just look for the cheapest premium. Check the IDV (Insured Declared Value).
Verdict: Always maximize your IDV. If your bike is stolen, IDV is the amount you get. Don't save ₹200 to lose ₹25,000.
Checklist Before You Start
- ✅ RC Copy: Vehicle Registration Number & Engine No.
- ✅ Old Policy: To check No Claim Bonus (NCB).
- ✅ Payment Mode: UPI, Net Banking, or Credit Card.
Are you ready?
Comparison: 3rd Party vs Comprehensive
Choosing the wrong plan is the biggest mistake. Here is the difference:
| Feature | Third Party (Liability) | Comprehensive (Package) |
|---|---|---|
| Legal Requirement | Mandatory | Includes Mandatory Cover |
| Own Damage | Not Covered | Covered (Accident/Theft) |
| Cost | Low (Fixed by Govt) | Higher (Varies by IDV) |
| Best For | Old Bikes (>7 Years) | New Bikes (<7 Years) |
1 Step 1: Go to Aggregator & Enter Details
Don't buy directly from one company. Use sites like PolicyBazaar, Coverfox, or InsuranceDekho to compare.
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1
Enter Bike Number
Enter your registration number (e.g., TS 09 EA 1234). If you don't remember, select "I don't remember bike number" and choose RTO/Model manually.
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2
Policy Status
Select if your policy is "Expired within 90 days", "Expired > 90 days", or "Not Expired". This affects your NCB.
2 Step 2: Adjust IDV (Critical Step)
What is IDV? (Insured Declared Value)
It is the maximum money you get if your bike is stolen or fully destroyed. It is basically the Current Market Value of your bike.
🚫 Mistake: Lowering IDV to save ₹200 premium.
If you lower IDV from ₹50,000 to ₹30,000, your premium might drop by ₹100. BUT, if your bike is stolen, you lose ₹20,000!
✅ Tip: Always set IDV close to market value.
3 Step 3: NCB & Add-ons
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🎁
No Claim Bonus (NCB) If you didn't make a claim last year, you get a discount (20% to 50%).
Warning: Do not lie about NCB. If you claim 50% NCB when you are not eligible, your claim will be REJECTED later. -
🛡️
Select Add-ons (Optional) Zero Depreciation: Must-have for bikes < 5 years old. Pays full cost of parts without deduction.
PA Cover (Personal Accident): Mandatory to have a ₹15 Lakh cover. If you already have it, uncheck this to save ₹350.
Frequently Asked Questions
Do I need an inspection if policy is expired?
If expired for less than 90 days, usually no inspection is needed. If more than 90 days, the insurer might ask for a "Self-Inspection" (uploading photos/video via app).
Can I change my insurer during renewal?
Yes, absolutely! You can switch to any company offering a lower premium. Your No Claim Bonus (NCB) will be transferred to the new insurer.
Is hard copy required?
No. A digital copy (PDF on phone or mParivahan app) is legally valid. However, keeping a printout is recommended for areas with poor network.