Two Wheeler Insurance Renewal Online After Expiry with ACKO

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There is no denying that a bike brings a great sense of comfort for daily commuting but also, owning it comes with many responsibilities. For instance, you must keep all the vehicle-related papers, including the two-wheeler insurance policy, updated. Moreover, the Motor Vehicles Act of 1988 requires that every biker must have an active two-wheeler insurance policy. Hence, you should renew your policy on time to keep it active. However, there might be instances where this does not happen. This article will help you by explaining how to renew expired bike insurance online.

What Happens if a Bike Insurance Policy Gets Expired?

Let us understand this with an example: Rajesh forgot to renew his bike insurance on time, so it eventually expired. Fortunately, he renewed his bike insurance within a month of expiry saved his accumulated NCB, and received a renewal discount.

On the other hand, his friend Rahul also forgot to renew his bike insurance on time but didn’t renew it. Unfortunately, he was involved in a bike accident without an active bike insurance policy. Because he didn’t possess valid two-wheeler insurance, he had to bear the repair expenses for all the accidental damages. The takeaway from this story is that bike insurance has to be renewed on time. Nevertheless, if the policy expires, renew it as soon as possible.

Consequences of Riding with an Expired Bike Insurance Policy

In case you are found riding without an active bike insurance policy, here are the consequences you will have to face:

Paying Fines

Riding a two-wheeler with an expired bike insurance policy results in you paying hefty fines. You may end up paying up to Rs. 2000 or even get three months' imprisonment.

Loss of NCB

If you don’t renew the bike insurance policy on time and it gets expired, then it will also result in you losing the accumulated No Claim Bonus (NCB).

Out-of-pocket expenses

If you ride a bike without an active bike insurance policy, you might be at risk of huge financial loss in case the two-wheeler is damaged.

Buy insurance from Scratch

Another consequence of not buying bike insurance after expiry is that you may have to buy a new policy from scratch. This may include an inspection of your two-wheeler. This process could take up more of your time and money than renewing bike insurance on time.

Steps to Renew Expired Bike Insurance Online

Ideally, you should renew your bike insurance well before its expiry. Not being covered under valid bike insurance exposes you to huge risks such as penalties and no insurance coverage. Nonetheless, if your bike insurance has expired, here’s how to go about online renewal of an expired two wheeler insurance policy.

During insurance renewal you have the option of making changes to your insurance policy’s coverage. So, make sure you are certain of your new requirements.
Visit the website of your previous insurer (or the new insurer) and input details of your two-wheeler and previous policy.
Select a bike insurance policy that meets your requirements.
Set the Insured Declared Value for the bike, aka “IDV” (the current market price of the bike).
Pay using an online payment method and receive the policy document in your email’s inbox.

Once you receive the policy document, make sure to verify the details. In case of discrepancies, contact the insurer and make the necessary changes via the policy endorsement process.

How to Renew Your Expired Two-wheeler Insurance with ACKO

It is easy to renew an expired bike policy with ACKO. Follow the below steps to renew expired bike insurance.

New to ACKO	Existing ACKO customer
✅ Step 1: Visit our website or mobile application and sign-in to your account via an OTP sent to your registered mobile number.	✅ Step 1: Head over to the ACKO website or our mobile application and enter the details of your bike and previous policy.
✅ Step 2: Go to the bike insurance renewal section. Then, select your prefered policy by clicking “Buy Now”.	✅ Step 2: After that, choose a suitable policy and tenure to obtain a free quote.
✅ Step 3: Complete the purchase by paying online. After that, you will receive the renewed policy in your registered email ID’s inbox.	✅ Step 3: Finally, pay for the selected online two wheeler insurance cover and receive the new policy document via email instantly.

How to Check Bike Insurance Expiry Date Online?

Step 1

Visit the website of the Ministry of Road Transport and Highways – VAHAN.

Step 2

Click on the icon titled “know your vehicle”. Then, input your vehicle number and verification code.

Step 3

After that, click on “Search Vehicle” to find out the validity status of your bike insurance. Also, you can check your two wheeler insurance expiry date online.

If you are an ACKO customer, you can verify your insurance status by visiting the ACKO website and signing into your account. The expiry date is also mentioned in the policy document.

What is the grace period for two wheeler insurance renewal after expiry?

The grace period is a 30 to 90 day period after your bike insurance has expired, wherein you can renew your policy without losing the accumulated NCB and other benefits. However, you will not receive any coverage during this period. So, if you incur any accidental damages, you will have to pay for the repair costs yourself.

Apart from that, if you get caught riding without valid Third-party Bike Insurance, you may have to pay a fine or even serve jail time. That is why we advise against waiting until the two wheeler insurance renewal grace period to get your bike insurance renewed. It is wiser to get it renewed 10 to 15 days before the expiry of the policy.

How to prevent your bike insurance policy from lapsing

Here are some tips to avoid your bike insurance from lapsing.

1. The foremost way to prevent your policy from lapsing is renewing it well ahead of its expiry.

2. Closer to the expiry date, insurers usually send reminders via email/sms alerting you to renew your policy. If timely action is taken, you can avoid policy expiry.

3. Purchase long-term bike insurance. Such a policy has a 5-year term period, so you don’t have to worry about annual renewals.

*The premium rates mentioned are for EV two-wheelers not exceeding 3KW

Benefits of Renewing an Expired Bike Insurance Policy Online

Listed below are some of the benefits when you renew an expired bike insurance policy online:

In the online process, you can contact the customer team anytime when you face any query about renewing the expired bike insurance policy.
Almost zero paperwork is required when you renew your policy online with ACKO, and there is little documentation process.
The online process lets you easily compare the different bike insurance policies available and choose a suitable one for your vehicle.

Things to Consider Before Renewing an Expired Bike Insurance

Listed below are some of the things to consider before you renew an expired bike insurance policy:

Make sure to compare all the bike insurance policies available to choose the right one for your vehicle.
If you are dissatisfied with your existing policy and it has lapsed, try switching insurers to get better coverage.
Try to renew your lapsed policy on time to avoid paying expenses out of your own pocket in case of an unfortunate event.

Frequently asked questions

Here are some questions and answers related to bike insurance renewal after expiry. You can go through them to get some of your questions answered.

Is there any grace period for bike insurance?

Typically, a bike insurance policy does not come with any grace period.

Is bike insurance mandatory after 5 years?

Yes, if you have bought a new bike, third-party bike insurance will be mandatory for at least five years.

What is the legal penalty for expired bike insurance in India?

The legal penalty for riding without a bike insurance policy is usually a fine of Rs. 2,000 and or serving three months of imprisonment. For the second offence, you may have to pay Rs. 4,000 as a fine and/or serve three months in jail.

What is “break in period” in bike insurance?

The break-in period in bike insurance refers to the period between when your policy expires and when you get it renewed. During this period you will not receive any insurance coverage.

Is it possible to renew 2 wheeler insurance after the expiry date?

Yes, it is possible to renew bike insurance after the expiry date.

My bike insurance expired, should I renew it online or offline?

It is possible to perform expired bike insurance renewal online and offline provided your insurer has both facilities. However, it is more convenient to renew expired two wheeler insurance online than offline.

Is it possible to change my bike insurance policy after its expiry?

Yes, you can change your bike insurance policy after it expires, at the time of policy renewal.

How to compare bike insurance policies while choosing a new policy after expiry?

You can compare bike insurance plans online by utilising the bike insurance calculator tool on an insurer's website. This tool allows you to input your insurance requirements and generate a free quote. Compare multiple plans using this method and choose the one that best suits your needs.

Can I do two wheeler insurance renewal online after expiry?

Yes, you can do two wheeler insurance renewal online after expiry, provided your insurer has that option. So, check if this feature is available in advance. That way, you can easily renew your expired bike insurance from anywhere and at your convenience.

How to renew bike insurance online after expiry?

You can renew bike insurance online after expiry by visiting your insurer’s website/mobile app, entering your personal account and choosing the desired coverages. Once you have selected what you want, you can make an online payment and receive your renewed policy document in your email.