Taking out two-wheeler insurance is mandatory in India, and this is good for you as it protects you against untoward incidents such as accidents, fire, explosion, theft, natural calamities, and many other unforeseen contingencies. Equally important is renewing your bike insurance policy if you already have one, as it will fetch you many benefits such as no claims bonus, and maybe even a more reasonable rate of premium.

Two-Wheeler Insurance Expires at The End of The Last Valid Date of The Policy

The problem with bike insurance policies is that they are valid only for a specific period, and if your do not renew them before the last date of its validity, then your policy expires and you have to take out a new one, thereby losing the many benefits you could have availed had you renewed your existing policy. Besides, you can incur heavy penalties if you are caught driving your bike without a valid two-wheeler insurance policy. Still, though it may be a bit of a hassle reviving an expired bike insurance policy, it can be done.

Consequences of Riding Your Bike After Your Insurance Policy Has Expired

If you continue to ride your bike after your two-wheeler insurance policy has expired, you will not only forego the claims you could have made from the insurance company in case of an accident or theft or any other kind of loss covered by the policy, but also may run headlong into legal hassles. The consequences broadly could be as follows:

• You will not be able to make any claim from the insurance company in case of any untoward incident, even if you have a comprehensive coverage policy. After your policy lapses, you bear all expenses out of your own pocket.
• The Motor Vehicles Act makes it mandatory for you to buy third-party bike insurance in India. In the unfortunate event of an accident taking place after the expiry of your two-wheeler insurance policy, you may have to bear the expenses incurred by the third party and also the legal expenses if you are dragged to court – all out of your own pocket.
• You forfeit your no-claims bonus, even if you have made no claim during the validity of your bike insurance policy, if you fail to renew your policy on time. Such a no claim bonus could be as hefty as 50 percent in some cases, and the loss is all yours.
• The penalties for riding your bike after your bike insurance policy has expired can be a stiff monetary fine, but more disconcerting is the fact that you could also land up behind bars.

It Is Not Difficult to Revive an Expired Policy

Stringent as the consequences of riding with an expired insurance policy may be, it is not very difficult to revive it. You just need to visit the office of your insurance company and the staff there will guide you as to the procedure. In case you are unable to go there in person, you can even revive your expired policy online on the website of your insurance company. Follow the step-by-step procedure given on the website and make your payment online. Do not forget to check out the most comprehensive and attractive bike insurance policies offered by Bharti AXA and have peace of mind.