Insuremile
IRDAI/I NTAII/BA/51/2018
CIN: U72900KA2018PTC110119

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:

How to Renew a Lapsed Scooter Insurance Policy

Step 1: Assess the Policy Lapse


Step 2: Gather Required Documents

To renew the policy, keep the following documents handy:


Step 3: Choose Your Renewal Option

You can renew your lapsed scooter insurance policy through:

  1. 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.
  2. 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


Step 5: Select the Right Coverage


Step 6: Pay the Premium and Renew


Step 7: Avoid Future Lapses


Things to Keep in Mind While Renewing a Lapsed Policy

  1. No Claim Bonus (NCB): You lose the NCB benefits if the policy remains lapsed beyond 90 days.
  2. Penalty: Driving without an active insurance policy is illegal and subject to fines.
  3. Premium Changes: The premium may increase based on the time elapsed and vehicle condition.

 

Frequently Asked Questions (FAQs)

1. Can I renew a scooter insurance policy after 90 days of lapse?
Yes, but you will lose any accumulated No Claim Bonus (NCB), and the insurer may require a fresh inspection.

2. Will I face a penalty for renewing a lapsed policy?
No penalty for renewing, but driving without insurance can attract fines from authorities.

3. Can I change insurers while renewing a lapsed policy?
Yes, you can switch insurers. Compare policies online to choose the best coverage and premium.

4. Is vehicle inspection mandatory for lapsed policy renewal?
Yes, most insurers require a vehicle inspection to check for damages before renewing a lapsed policy.

5. How long does it take to renew a lapsed policy?
If done online, renewal can take minutes. Offline processes may take a day or two, especially if inspection is needed.


Renewing a lapsed scooter insurance policy promptly is essential to avoid risks and penalties. Always keep track of your policy expiry date and consider setting reminders or opting for long-term insurance plans to ensure uninterrupted coverage.

Loading

Leave a Reply

Your email address will not be published. Required fields are marked *