Brand new Bike
Renewal Bike Insurance of SBI General Insurance
SBI general insurance company was founded 13 years ago and is a joint venture general insurance company. SBI general was named the best general insurance company in the award category “Under-served market penetration” and “Commercial Lines Growth Leadership” at the 6th edition of the Indian Insurance Awards. SBI General Insurance Company offers a variety of useful services and features that make it easier for policyholders to get the coverage they need.
What is a two-wheeler renewal of policy in SBI general Insurance?
India has one of the highest rates of road traffic accidents in the world. The percentage of traffic accidents involving two-wheelers is likewise quite high. The Motor Vehicles Act makes it mandatory for all motor vehicles to obtain an insurance policy for the same reason. The bike insurance policy provides enough coverage for two-wheeler owners and assists them in the event of an unexpected incidence involving their vehicles.
What are the benefits of renewing your policy with the same company?
1. Paperless Experience- Purchasing two-wheeler insurance used to be a time-consuming process. Buying or renewing two-wheeler insurance was sometimes complicated due to the involvement of intermediaries and agencies. Some things have become paperless and simple thanks to companies who offer digital processes.
2. Fast policy Renewal-SBI general insurance’s policy renewal system for its customers.
3. Easy to locate feature-The policyholder of the company can easily find a branch, Showroom, or garages associated with the firm on the website of SBI general insurance by just entering a few details like city, garages name, and so on.
4. Save from hassled experience-Not renewing your bike insurance on time can lead to paying penalties or rejection of claims. You might even have to look out for another plan or insurer due to irregular renewal or expired policy for long period. Hence, it is advisable to renew the bike insurance.
5. Availing Convenience- Buying two-wheeler insurance online has been made much simpler and faster in the past few years. Online platforms offer the most flexible way to buy or renew a two-wheeler insurance policy according to your convenience.
6. Safe transaction-Some people step down when it comes to online purchases. In that case, you can verify the insurer’s website by checking the reviews and ratings before purchasing bike insurance.
What happens if the policy gets expired?
Third-party liability insurance- It will be known as two-wheeler insurance, which protects you financially against third-party liabilities such as injuries and property damage. You don't have to worry about making up for the third party's loss. Naturally, avoiding harming others should always be a top priority.
Comprehensive insurance policy -Renew your bike insurance policy well in advance to prevent riding uninsured and to avoid additional costs that may arise as a result of not having an active insurance policy. Traffic police will levy a penalty if you are found riding your two-wheeler without valid insurance and license. You will also forfeit the discount if you do not renew your bike insurance within 90 days of the expiration date.
If your standalone own damage insurance coverage expires, you'll lose any NCB benefits you've accumulated, which may be worth up to half of your damage premium, depending on how many claim-free years you've had.
What can you do if your policy expires?
-Contact online quickinsure insurance brokers at https://quickinsure.co.in/ 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.
1. Is it possible to cancel a bike insurance policy midway?
Yes, a bike insurance policy can be canceled concerning certain conditions. The unused premium in such cases is refunded to the policyholder of SBI general insurance.
2. Can I avail a duplicate two-wheeler insurance policy?
Yes, you may approach or submit a request to a quickinsure insurance broker online website. A duplicate copy of your policy document will be issued on payment of a nominal fee.
3. What is the No Claim Bonus in SBI general insurance?
No Claim Bonus is a discount given to policyholders of SBI for making no claims on their two-wheeler insurance policy in the preceding year.
4. Can I renew a policy with a different insurer with SBI General two-wheeler insurance?
Yes, you may enter the details of your existing insurance policy and renew the policy with SBI General.
5. How long will it take for claim settlement in SBI General?
If all required documents are submitted, the claim settlement process will take not more than 8 working days.