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What to Do If Bike Insurance Expires During This Lockdown?

Riding a bike lets you enjoy your commute with the wind in your face. Other than that, it also adds a lot convenience by helping you weave through heavy traffic. This means you save a lot of time while others must wait for it to open.

There is no end to the list of advantages that a bike can offer you. But for all its advantages, there are a lot of dangers to riding a bike as well. Making a single mistake on the road can lead to dire consequences for both the bike and you. The best way to avoid this situation is to drive safe. However, despite all the caution, accidents can happen at times. Hence, the best solution for you is to have bike insurance.

Bike insurance during lockdown

Since more than a year, the country has been under lockdown due to the COVID-19 pandemic. As part of this lockdown, the movement of people across their respective regions. This means that there is little to no reason to drive your vehicle. Due to this, a lot of people of have parked their bikes for the foreseeable future. Hence, it is natural to forget about everything associated with the bike. This includes bike insurance as well. There may be a situation where you forget about your bike and the insurance policy on it. Due to this, you may fail to renew it and it may expire.

What happens when your bike insurance policy expires?

A bike insurance policy expires when you don’t pay the premium in the stipulated time of the coverage. This means making the payment before the last day of coverage. In the case you don’t make it and the coverage expires, the insurance provider will offer you a break-in period of 90 days. This break-in period serves as a chance for you to reinstate your plan. This way, you can restore all the benefits of the policy as they were. But you will not have coverage during the break-in period. If somehow, you miss this time window as well, your policy is terminated.

Upon termination, all types of coverage and benefits of the policy are considered null and void. This implies that you not only have no coverage for own damages to your bike, but also for third-party liabilities. Hence, the next time you get into a situation like accident, theft, vandalism, etc., you will have to cover these expenses out of your own pocket. While there is a lesser chance of accidents during lockdown, but there is no sense of taking the risk of being in this situation with insurance coverage. Moreover, riding a bike without insurance is illegal. Getting caught riding a bike without insurance means you will have to pay a heavy fine.

What can you do if this happens?

Missing the renewal of your bike insurance policy may be a bad thing, but its not a crime. But if you want to ride your bike, you need a two-wheeler insurance policy. So, in the case of your policy expiring, the only thing that makes sense for you to do is to buy a new policy.

Ideally, it would be better if you make the premium payment before your policy is terminated. But missing this opportunity could be a blessing in disguise. This implies that now you can buy a policy with better benefits and coverage options. Hence, as soon as your policy is terminated, you need to start looking for another policy.

The most obvious doubt here is that with everything closed due to COVID-19 lockdown, how do you exactly buy a policy or even look for one. The simple answer is through online mediums. The first step is always comparing polices which can be done through third-party comparison websites. To buy a policy you can go to an insurance provider’s website and make the transaction.

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