Is it Possible to Buy/Renew Bike Insurance Without Inspection?

Yes, sometimes it is possible to buy and renew bike insurance policy without an inspection. This might be possible during policy renewals or when the policy has recently expired. It is, however, also important to note that an inspection might also be required if the policy has expired for a long period of time. So, let’s understand about bike inspection and in which cases it is possible to get and renew a policy without inspection.

Two-wheeler or bike insurance inspection is a process in which the condition of the bike is assessed thoroughly. Insurers note every minute detail, every scratch, dent, state of the parts, etc., during an inspection. A surveyor is responsible for inspecting your bike and sending a detailed report to the insurance company. The insurer can accept or reject the bike insurance proposal based on the inspection report from the surveyor. Usually, an insurance proposal is rejected for bikes that have recently met with a major accident or are very old and in a bad state.

After a claim, we need to take a look at the bike and note down the extent of the damage. The insurer process the claim based on the inspection report. Inspection before buying bike insurance and after raising a claim are two different things. Do not get confused between these two types of bike inspections.

Some of the benefits of bike insurance inspection are as follows:

There are numerous events when bike inspection becomes mandatory, such as those listed below:

A few things that you need to be wary of for bike insurance inspection are as follows:

An insurance company decides whether to carry out an inspection before issuing an insurance policy or not. At ACKO, we do not inspect the bike before issuing a bike insurance policy. We use factors like brand, age, bike model, etc. to decide if we want to insure the bike. Our customer-first policy allows us to give you the benefit of doubt.

Buying ACKO bike insurance is a quick process. Answer a few basic questions, choose your bike insurance plan, and make payment. We will send your bike insurance policy within a few minutes. Yes, it is that quick.

Here is a list of steps to guide you during the purchase.
 

There are many ways in which you could lose benefits if you don’t renew your bike insurance on time. Inspection is not the only factor that makes insurance renewal time-sensitive. Here are some facts that will help you understand the importance of renewing bike insurance on time.
 

1. The bike owner is not covered during the grace period

The grace period begins after the bike insurance policy expires. If you renew the policy within the grace period, then you will not lose the benefits such as No Claim Bonus. Also, you don’t have to buy a fresh policy when you renew during this time.

On the other hand, you do not get any insurance benefits after the expiry date. Once the policy expires, you cannot raise a claim for damage that occurred after expiry. Thus, you expose yourself to financial liabilities related to the bike. Even during the grace period.

2. Traffic fines and challans

Buying insurance is necessary as per the law. You cannot ride a bike with no valid insurance policy. When you ride with an expired policy, it is as good as not having bike insurance at all. Thus, you need to pay a fine for riding the bike illegally.

3. No Claim Bonus expires

If you fail to renew the bike insurance policy within 90 days of expiry then you will lose the No Claim Bonus (NCB). NCB is a discount on premium for not raising claims. It is applicable on Comprehensive Bike Insurance Plans. As the discount can rise to 50% of the Own Damage premium (damage to your bike), you would pay a higher premium for policy renewals.

Renewing bike insurance on time is as important as buying a bike insurance policy in the first place. Failing to do so will expose you to many financial liabilities.

Being transparent about the condition of the bike and sharing all necessary details will help you get the best insurance plan. It also avoids claim rejection and related disappointment of a financial loss. At ACKO, you can buy bike insurance in a matter of a few minutes, but try to avoid last minute renewals. This can prove to be counterproductive during claims. Allow your insurer time to access the damage in case of an accident to calculate the maximum claim amount.