Being a two-wheeler owner means you have to be conscious and responsible for a lot of things. One of those things is buying an insurance policy and renewing it at the right time. Since you can make the renewal online these days, the task has become much easier. However, there are some things you need to keep in mind while renewing online. Or in other words, there are some mistakes you need to avoid. Why? Well, after saving the details you entered in the system, it may not be possible to change them. Any misinformation you provide may result in a higher premium, an issue with future claim settlement, or NCB loss. So, when you renew bike insurance policy, here are the mistakes you need to avoid:

• Foregoing the NCB concession

The two main benefits of the NCB (No Claim Bonus) are that it reduces the amount of premium payable at the time of renewal, and it can be transferred when you decide to purchase a new policy. Retain the NCB every year by avoiding claims for minor dents, scratches, etc. and maintaining a good claim history while maintaining the NCB. You can save a minimum of 20% and a maximum of 50% on the insurance premium each year. *All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply

You can check online how much you have deposited with NCB and whether you have received a concession on the renewal premium. If you do not see the NCB details, let your insurance company know before renewing. *

• Offering false information

When filling out details online, provide the right information when it comes to your bike and your personal details. If you change your location or move to another state, update your current address and contact number. Also specify things like any previous claims, the two-wheeler’s age, etc. You might think you can hide details to prevent the policy from being rejected or to get a lower premium. However, if in doubt about the facts, the insurer can cross check at any time during the policy term. This can lead to penalties or policy termination if they find out that you provided incorrect details. This can eventually cause damage to your coverage. *

• Ignoring the terms and conditions

Do not ignore the information given in the policy document. Check these carefully before your two wheeler insurance renewal. You will find the policy features, inclusions, exclusions, claim process, etc. that you mentioned there, which are important if you need to make a claim going forward. If you have any doubts, you can contact your insurance company. The contents of the policy document are important because the insurance company follows them closely. Do not assume or confirm anything that does not comply with the terms of the policy as you may have a claim settlement issue. *

• Not informing the insurance company about vehicle modifications

You may decide to make some modifications to your bike or install additional equipment, but you should always inform the insurance company about this. Modification means that you are changing your bike features that were not there at the time of purchasing the policy. If you do not notify them, there may be problems during the claim settlement. For example, changing the look of mirrors, painting, etc. can increase the premium. However, installing an anti-theft device or tracking device may reduce the premium. *

* Standard T&C Apply

Overall, whether you renew a comprehensive policy or third party bike insurance, consider the relevant list of factors. Making mistakes when you make a claim may increase the premium or cause problems in the future. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.