Bajaj Allianz General Insurance Company was founded in 2001 It is the private sector general insurer in India and a joint venture between Bajaj Finserv Limited and Allianz SE. It has been relentlessly increasing its operations to reach out to all types of customers. The company satisfies individuals and the business sector with a wide range of insurance products as well as services and discounts last but not least This Company Conducts various insurance businesses and has become one of the top-most general insurance brands in India.
What is a Renewal of Policy in Bajaj Allianz General Insurance?
A single blunder on the road might be fatal. The renewal of your bike insurance policy might assist you in dealing with scenarios such as the death or incapacity of victims of accidents caused by your vehicle. The procedure of paying a premium to ensure that your policy stays in force and that you continue to get benefits is known as Two-wheeler insurance renewal.
What are the Benefits of Renewing your Policy with the Same Company?
1. Enable You to Ride Legally: Having third-party insurance is mandatory for all vehicle owners, and there is no way of opting out of it. Thus, by renewing your two-wheeler insurance policy, you can ride legally on the Indian roads.
2. Offers No Claim Bonus: No Claim Bonus is a reward you get for making zero claims during the policy tenure of two-wheeler insurance.
3. Monetary Backup for Man-made Hazards: Warnings do not come knocking on your door, therefore planning is essential. Theft, burglary, strikes, accidents, and other man-made risks can all cause damage to your vehicle. Your two-wheeler, on the other hand, is protected from such mishaps with the correct bike insurance, and you will be compensated for any losses suffered. As a result, it’s critical to renew your two-wheeler insurance.
4. Peace of Mind: Timely renewal of bike insurance policy ensures you peace of mind and a sense of security. So make sure that you get your bike insurance policy renewed before the expiry date.
What Happens if the Policy Expires?
Third-party Insurance: In third-party insurance, if you do not renew your Bajaj Allianz Bike Insurance Policy before it expires, the policy will lapse, and you will be legally prohibited from driving a bike in India if you do not have bike insurance. Due to the non-renewal of two wheeler third-party insurance, you may be required to pay a fine to the traffic police.
Comprehensive Insurance: If you do not renew your comprehensive bike insurance, you will not only be charged more, but you will also lose all of the benefits from the prior year. If your policy isn’t renewed within 90 days of its expiration date and your automobile needs to be inspected, you’ll lose your No Claim Bonus.
Stand Alone Own damage Bike Insurance: Stand-Alone Own damage bike insurance includes Only Accidental damages to the bike and the Owner’s driver cover.
What Can You Do if Your Policy Expires?
-Contact Online Quickinsure insurance brokers to know the further process of renewal.
-Avoid driving a bike till you get a new policy because your policy expired and you don’t have any protection right now.
-To renew, you need to visit https://quickinsure.co.in/ and decide which policy is suitable for you.
-You need to have your previous year’s policy for further documentation or renewal.