How to Renew Your Two-Wheeler Insurance after expiry?

03 June 2019

In 2018, around two crore two-wheelers were sold across the country. This number highlights how well the two-wheeler industry has done in India.
The rise in two-wheeler purchases also means that two-wheeler insurance is mandatory, as per the Motor Vehicle Act.
However, most two-wheeler insurance policies last a year, and it is your responsibility to renew it. Fortunately, our representative at Liberty General Insurance will call you or email you with a reminder that your insurance policy is about to expire.
You have the option of either paying it online or offline.

In case of offline payment, you carry out the following steps

• Visit your nearest Liberty General Insurance branch
• Show all your previous documents for verification, and then fill out the renewal form
• Submit all necessary documentation
• Make the payment
• Get the receipt

When it comes to online payment, you must do the following steps

• Visit Liberty General Insurance's website
• At the top of the page, click on two-wheeler insurance
• You will be redirected to a page with two options: Buying online and 'Renew LGI policy'. Click on the second option.
• Here, you will be asked to enter your insurance number and your vehicle's registration number (Do note that if your vehicle was purchased last year, type 'New').
• You will be given the payment option, following which you will be redirected to a payment gateway.

Remember, insurance is a must, for the following reasons:

• Coverage in case of loss or damage due to an accident
• Coverage in case of theft/burglary
• Coverage in case of legal and financial liabilities arising from injury, damage or loss to a third party

Benefits Of Renewing Your Policy Online

Gone are the days when you had to call up your trusted insurance agent to come and collect the premium and then deliver the renewed policy document the next day. Go to your insurer’s website (or any other provider of your liking), key in the details, check the quotation and make the payment. Policy generation is instant, and you can download and print a copy almost immediately. This way, you can experience seamless convenience in choosing the policy provider, minimal documentation hassles, clear information and secured payment options.

Long-term insurance

Insurance providers have launched long term insurance products, which can cover your two-wheeler for three years. The significant benefit of this option is that the premium is fixed for the whole term and does not vary, unlike in the case of yearly renewal where usual price hikes by insurers or tax rate changes invariably increase the premiums. Additionally, you can relax for three years without worrying about missing the deadline for yearly renewal. So, summing up, remember to check the fine print before you renew your two-wheeler policy, know what feature you want, compare premiums, and most importantly, do it within the due date!