Renewing a lapsed scooter insurance policy is crucial to avoid legal penalties and ensure continuous financial protection against unforeseen events. Here’s a detailed guide on how to renew a lapsed policy effectively:
Step 1: Assess the Policy Lapse
- Confirm the policy has lapsed by checking the expiry date in the policy document or online account.
- Understand that a lapsed policy means you lose coverage, including third-party liability and own damage protection, until renewal.
Step 2: Gather Required Documents
To renew the policy, keep the following documents handy:
- Previous policy document.
- Registration Certificate (RC) of the scooter.
- Vehicle details (engine number, chassis number, etc.).
- Personal identification and address proof.
Step 3: Choose Your Renewal Option
You can renew your lapsed scooter insurance policy through:
- Online Renewal
- Visit the insurer’s website or mobile app.
- Provide your expired policy details and scooter information.
- Pay the renewal premium online.
- Receive the renewed policy instantly.
- Offline Renewal
- Visit the nearest branch of your insurer.
- Submit the required documents.
- Pay the premium and receive the policy in person.
Step 4: Inspection of the Vehicle
- For lapsed policies, insurers may require a physical inspection of the scooter to check for pre-existing damage.
- Schedule an inspection as per the insurer’s instructions.
Step 5: Select the Right Coverage
- Reassess your insurance needs and consider adding or removing optional covers like:
- Zero Depreciation Cover.
- Personal Accident Cover.
- Engine Protection Cover.
Step 6: Pay the Premium and Renew
- Once the inspection is complete, pay the premium as quoted by the insurer.
- You will receive the renewed policy document, usually via email, and a hard copy if requested.
Step 7: Avoid Future Lapses
- Set reminders for the next renewal date.
- Enable auto-renewal or opt for long-term policies to ensure continuous coverage.