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Don’t Wait For Lockdown To End: Renew Your Car and Bike Insurance Before Expiry

Team AckoJan 17, 2024

The COVID-19 lockdown has swept vehicles out from the roads, and they are sitting idle in their parking spaces. Some dust-laden while some with dead batteries. In this situation, one would argue about the role of motor insurance where a vehicle is not in use. If a vehicle is not taken out on the road, it will not face damage due to an accident. But what about other contingencies that may occur when your car or bike is parked in a garage? These risks are discussed in this article. Read on to find out more.




Reasons of Renewing Car/Bike Insurance Before Expiry:

As mentioned earlier, your insurer might be able to honour your claim only if you have an active motor insurance policy. If not, you will have to bear the expenses incurred for repairing your damaged vehicle. Here are the reasons for renewing motor insurance:

No Claim Rejection:

The very first thing that your insurance company will review is the tenure of your car and bike insurance policy. If you have raised a claim after the expiry, it will be rejected without any further investigation.

No Claim Bonus Cycle Secure:

Motor insurance companies offer a discount on your ‘own damage’ policy if you do not raise any claims during the policy period. This discount can go up to 50% of the premium. One needs to keep renewing their policy in time to enjoy the benefit offered by No-claim Bonus. If not, all the accumulated bonus will drop down to zero.

Inspection Might Not be Required:

Renewing your motor insurance policy on time can be done within minutes. This is not true in case there is a long gap between the expiry date of the previous policy and when you finally decide to renew it Your insurer would want to inspect your vehicle for any pre-existing damage. And since the country is on lockdown, even a physical inspection is likely to get delayed. This may expose you to grave financial liabilities in case of damage.

No Increased Premium:

Not renewing your policy in time implies that you have to buy a fresh motor insurance plan. Buying a fresh policy can be more costly than renewing the existing one. 

Also, read: How to Protect and Support Kids During the Coronavirus Crisis

Damages That Could Occur During COVID-19 Lockdown:

A motor insurance policy lists down various risks that could result in the damage of your vehicle. When you buy an insurance policy, the insurer makes a promise to cover you against these risks. However, the insurance company can only provide monetary help if you renew your policy on time. Here are the things that could burn a hole in your pocket if your vehicle is damaged during the lockdown:

1. Natural Calamity:

You could be living in a region where natural calamities like landslides, earthquakes, floods, etc. are common. These could damage a vehicle beyond repair. On the other hand, you could be living in a region that is virtually safe from natural calamities but something as common as a falling tree could hit your vehicle and damage it.

2. Theft:

Vehicle theft is not uncommon in India. One morning you would wake up and see a vacant space where your beloved car or bike stood humbly the previous night.

3. Vandalism:

A large amount of money is spent on repairing vehicles subjected to vandalism each year in our country. Repairing the damage would be an expensive affair, be it deliberate or a child playing with sticks and stones.

Also, read: How to Renew Car Insurance During Coronavirus Lockdown?

What Are Types of Motor Insurance Policies?

Your motor insurance policy can be of two types – Third-party liability policy or Own Damage policy. The former will financially protect you against expenses incurred from compensating any third party for damage caused by your vehicle. Whereas the Own Damage policy will be helpful while repairing the damages to your own vehicle.

Note that it is mandatory by law in India to buy at least a Third-party motor insurance policy and to keep it active at all times. This is irrespective of the vehicle being used or not.

The amount of premium that you pay depends upon the coverage and tenure of the policy you choose. It may also slightly differ based on the terms and conditions of the insurance company.

Also, read: How to Transfer Bike and Car Insurance to New Owner

Frequently Asked Questions:

Here are a few questions that you may have after reading the above article. Take a look:

How to renew car insurance on


To renew your car or bike insurance policy simply visit car insurance page and click on ‘renew now’ or enter your car number to continue. Then you need to login via one-time password and follow a simple process. After renewal, you may receive your car/bike insurance policy via email or SMS within minutes.

A tree fell on my car while it was parked. What should I do?


If a tree fell on your car when it was parked, you need to get in touch with your car insurance company before moving the car. Also, make sure to click photos or create a video for your insurer’s reference. Your insurer will guide you through the claim process provided you have a valid ‘Own Damage’ car insurance policy.

How can I ensure that my bike does not have issues after the lockdown is over?


You can ensure that your bike remains in working condition by firing up the engine regularly. Doing this at least two times a week will avoid the draining of bike batteries.

What is the meaning of add-ons in car/bike insurance?


Add-ons are additional coverages that can be bought along with the Own Damage’ component of your car/bike insurance policy. Buying suitable add-ons is beneficial for added financial protection.

What is Grace Period?


The grace period is the time after the expiry of the insurance policy. During the grace period you can renew the old one without losing benefits like No Claim Bonus. You do not have to buy a fresh policy during the grace period. However, your insurer will not settle a claim if your vehicle gets damaged during this period.

What should I do if my car insurance lapsed during Coronavirus lockdown?


In case your car insurance policy lapsed during the Coronavirus lockdown, you should immediately get in touch with your car insurance company and complete the renewal process. Renewing the policy online is the best method of renewal during the lockdown as the entire process will be completed in a touch-free manner.

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